Loan to start another food retail stand

Veronicah Macharia

Nairobi, Kenya

Funds disbursed

$0 to go

100% funded of $100 goal

0

days left

Entrepreneur

Name

Veronicah Macharia

Member since

January 2016

On-time repayments

6 installments  •  0%

About Me

My name is Veronica Wanjiru. A former student of Kiuru Primary School and langalanga High school in Nairobi. I studied up to form four but my academic performance was not so good. I therefore resulted to start businesses after school since i did not get funds to take me to the university.
This poor performance was greatly accredited to financial problems because i used to be chased out of school for school fees nearly every term. Back at home i could stay for more than two weeks as my mother struggles to look for school fees. Thus when i went back to school the term was close to ending and therefore i could not catch up well with other students. This challenge great;t led to my poor performance. I therefore did not give up because i took the challenges as a positive manifestation of new beginning, i resolved to starting a grocer which to date has been helping me.

My Business

I operate a grocer where i sell Onions, Tomatoes, Cabbages, kales, fruits and other seasonings. The goods that i offer to people are on very high demand because they are the most basic need that people need for survival each and every day. Thus customers must came and buy at my Stand because they need them for survival.
i chose these business because the demand for basic food supply is high and therefore i can generate a lot of income, also i chose to venture into this business because i can easily access these food supplies from farmers upcountry and bring to the locals at the urban area.
I used 200 Us to start the business and monthly i generate a double profit of up to 400 Us dollars or more.
i am planning to use the profits that i generate to reinvest back into the business and i am also planning to start another grocer business else where.

Loan Proposal

Granted 50 Us dollars, i am planning to use that money together with my pesonal savings of 200 Us dollars to open another food supply stand. I will use the money in the following ways; 100 Us dollars to buy vegetables, fruits and other food supplies, 50 Us dollars to make a wood stand for holding my items and also storing them at night under key and lock, 50 Us dollars to acquire a permit to allow me run the business and 30 Us dollars to buy a blender to use in blending fruits, the remaining 20 Us dollars will be used to construct a shade where customers will be shading from the sun as they take their juice.
This business will personally benefit me through generating more income for myself, help other by creating a job opportunity to another person who will be in my other stand or joint and it will also help my customers maintain their health by taking nutritious fruits rich in vitamins
i expect to generate a double profit margin of around 400 Us dollars per month.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$100.26

Date disbursed

Jan 22, 2016

Repayment status

Late

Projected term

6 weeks

Cost to entrepreneur

Service fee: $4.16

Veronicah opted to pay $41.47 into the Zidisha Members Loan Fund in return for a higher starting credit limit.

Lenders

B

bitofrits

New York City, United States

L

Leonora

TÄBY, Sweden

B

beckynagel

United States

M

mbarbier

United States

V

Vivek

Arlington, VA, United States

Taylor

Memphis, United States

UK

Uday Kolluri

New York, Singapore

MC

Mark Cowburn

United States

MC

Mark cowburn

United States

Matt and Erin Daly

San Francisco, United States

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