Expand barbershop and potato farm

Leonard Cheruiyot

Nakuru, Kenya

21% repaid

Entrepreneur

Name

Leonard Cheruiyot

Member since

January 2014

On-time repayments

301 installments  •  14%

About Me

I am an ambitious young man from Keringet, Nakuru County. I am married and we are blessed with one daughter. I went to Keringet Estate Primary School for my Kenya Certificate of Primary Education and I joined Amalo Secondary in the year 1999 for my Kenya Certificate of Secondary Education which I got in the year 2003. I was not able to proceed with my education due to financial constraints since I fully depended on my elder as a guardian having lived as a total orphan since when I was in primary school. I have been able to do various kinds of businesses in Keringet since that time. At the moment I run my own business where I deal in executive hair care, barber shop. This has really boosted me financially.

My Business

My business is located in Keringet, Nakuru County. I have been operating my barbershop, Leny’s Kinyozi, since 2006. Over time I have earned trust of most of the clients in the region because of several factors. Business requires consistency and that is what I have mostly given them. I have achieved this through unmatched services I offer. I do the shaving myself so I am able to monitor the business closely and ensure that it’s heading to the right direction and that customer’s needs are met. Due to the large number of clients I receive, I have hired one person to assist me. I pay him Sh. 200 daily. On average, I make around Sh. 1000 daily. The business has enabled do farming. I have been planting potatoes for a while now. The crop does well in this place. Recently, a cow and I get around 10 liters daily, which I supply to local hotels daily. I plan to use the Zidisha loan to buy an extra shaving machine and hire another person to help me serve my clients faster. I also wish to expand my potato farming from one acre to three acres.

Loan Proposal

I want to thank the entire Zidisha community for the support accorded to me in the first loan which i just cleared recently and would like to asked fro the same support in this second loan. As i said before, i am also into agribusiness where potato farming is part of what i do. Last month i harvested an acre of potatoes and i have planned make it two acres this time round. At the moment, I am preparing the land and will be ready for planting come January, 2015. I plan to buy new seeds this loan($283). An acre requires 12 sacks of medium sized potato seeds and that means I will need 24 sacks at a cost if Sh. 1250($14) each. I already have fertilizer ready. I will really appreciate your support. Thank you

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$286.52

Date disbursed

Dec 18, 2014

Repayment status

Late

Projected term

61 months

Cost to entrepreneur

Lender interest: $286.52 at 3.93% annual rate over 61 months = $57.04

Service fee: $53.65

Lenders

J

jgillard

Winchester, United Kingdom

S

SMRosen

Hershey, United States

S

Sparkle

Pennsylvania, United States

JimVandegriff

Trinidad, California, United States

chocpuma

Saint Paul, United States

chrsve46

Stockholm, Sweden

dcorbetta

Carate Brianza, Italy

G

gamblyjoe

Spain, Spain

T

TurgayAlihos

SOUTHBANK, Australia

C

cardiff

Falls Church, United States

W

willemsenphilippe

Edegem, Belgium

T

Travtroe

Lanesboro, United States

Anto82

Eraclea, Italy

L

lenders

United States

WhyPeace

United States

T

tmarkus

Netherlands

J

jayne62

Australia

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