Name
Ben
Member since
February 2015
On-time repayments
100 installments • 34%
I am Kenyan citizen aged 28 years. I am brought up in an entrepreneurial environment. Educationally I hold a bachelors degree in mechanical engineering. I have passion for business and currently I operate a grocery in one of the leading universities in Kenya-JKUAT. I am very much composed and I like taking well calculated risks. My future ambition is to own fruits processing firm. My drive to engage in business came as a result of my parents who were entrepreneurial, most of my youth hood were spent in my father’s grocery .
I am dealing in a grocery business situated in JKUAT- one of the leading universities in Kenya with student population of about 27,000. The location of my business is very strategic since the large student population coupled with high purchasing power makes it possible to thrive. On average this business generates net monthly turnover of 25,000 Kenya shillings .Currently I have employed three people and expanded to value addition of fruits by processing juice. I have also conducted market research in the neighboring institutions and the situation is promising. In order to expand and achieve this estimated demand I will need capital and labor with a financial estimate of 1.2 million Kenya Shillings. Having been introduced to the Zidisha loan by a friend I saw it fit to join as it will help me finance my business with ease owing to its friendly terms and conditions.
I will use the loan to purchase a pop corn machine worth US $ 270/= to boost my product range and my earning . The machine will be stationed within the institution (JOMO KENYATTA UNIVERSITY). Since the machine cost is above the requested loan amount, I will top up using the savings from the business. once acquired, I will employ one attendant preferably a lady to take charge of the pop corn sale. Through this I will create job opportunity and hence increase my employee base to 4 people since currently I have contracted 3 gentlemen to help in the juice production. Through this machine the business is estimated to generate about US $ 200 /= per month and this will help in expanding the business both financially and asset-wise. the increased profit will be re invested in the business and part of it will be used to renovate some of the production facilities/equipments.
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Project Type
Classic Loan
Disbursed amount
$101.00
Date disbursed
Jun 3, 2015
Repayment status
On Time
Projected term
11 months
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