165 installments • 81%
I am Richard Siafwa. I am 52 years old. I have eight children. One has finished school but is lacking sponsorship. The other seven have not finished; they are just at home. Five are married. The other three are not yet married. One of these has finished school, and the other is in grade seven. I'm running a shop, but I would like to improve orders of my shop so that I can earn a better livelihood.
I was working for Zambia Railways in 2000, then with the money I got, I decided to start a shop because the wages were too low. I started the shop in 2003, and the shop is currently is open on daily basis. However, I am incapable to sell some products in the shop because I have lack of funds.
I sell drinks, cooking oil, salt, biscuits, soap, fabric, and other groceries. People use these things on a daily basis. I chose to have a shop because it is the fastest way to make money.
In a week, I may spend 1,000 kwacha. Once I sell those things, I will make about 200 extra.
I spend money on sending my children to school, farming, and buying more groceries to sell.
Am requesting for the loan to pay Tuitions fees at the University of Zambia and also purchase of building materials to extend my retail shop due to demand from the customers within my community, the following is how i want to use the loan;
1.Pay tuition fees for my son at the University of Zambia
2.Purchase of Building Materials
- 50 pockets of cement
-1500 building blocks
-30 iron roofing sheets for the shop
The old retail shop am using has become too small due to increase in stocks and therefore i need to extend the shop so that i can be stocking the goods very well.However the profit margin will also increase and enable me to repay my loan time.
Jan 15, 2019
Cost to entrepreneur
Service fee: $26.97
Credit risk payment: $162.14