Capital for food-retail business & pay university fees for my daughter

Richard Siafwa

Simunchembu, Zambia

100% repaid

Entrepreneur

Name

Richard Siafwa

Member since

October 2015

On-time repayments

165 installments  •  81%

About Me

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.

My Business

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.

Loan Proposal

I ran a food retail shop and it is the main source of income and my livelihood, this is the same business that helps me pay school for children and improve the standard of living for my family.However,due to increase of tuition fees of daughter who is at the University, i need to raise $90.00 which will be able to assist me cover tuition fees and also boost my business.The loan will benefit by educating my daughter and boost the business for more income generation and sustain the business.

Feedback

4

None

None

  • Margaret    Dec 29, 2018

    The loan was paid back in a timely manner!

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  • Mary    Oct 12, 2017

    Richard is an excellent borrower. I would recommend loaning to him for any future loans.

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  • Margaret    Oct 12, 2017

    Richard paid off his loan perfectly, I would gladly lend to him again and encourage others to do the same.

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Loan Info

Project Type

Classic Loan

Disbursed amount

$815.30

Date disbursed

Jul 28, 2018

Repayment status

On Time

Projected term

5 months

Cost to entrepreneur

Service fee: $23.48

Credit risk payment: $84.53

Optional expediting fee: $23.48

Lenders

G

Gil

Portugal

A

Anonymous

United States

M

Margaret

United States

DW

Dan Winetsky

United States

Carrie

Arlington, MA, United States

R

RM

Australia

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