Purchase of agricultural product (garri)

Simeon

Lagos , Nigeria

13% repaid

Entrepreneur

Name

Simeon

Member since

February 2019

On-time repayments

26 installments  •  38%

About Me

my name is Simeon Agboola and number two in a family of six I attended my basic school and further to the tertiary. I grow up with my father business of buying and selling of provisions. he thought my howto manage any little resources I can ladybug hand on. after my school I got employment in a maritime sector but due to the nature of our environment I got fired for no reason. this now propel me to start my own business of haulage all alone.

My Business

my business entails moving of agricultural products from one market to another or to the final consumer it depends. I also engaged in the retails too. I got money from my younger sister to obtain the small bus I star with before gathering my self to obtain another one and now another. I realized almost 50000 naira per week. from it I save for mentainace and feeding of my three children Isaac, Isabel and Israel. they are of 9,7,3 years of age.

Loan Proposal

I will use the money to purchase garri cassava flour for retail purposes and use the remaining part of the loan to service my bus for business and customer delivery.

Feedback

None

None

None

Loan Info

Project Type

Classic Loan

Disbursed amount

$275.00

Date disbursed

May 7, 2019

Repayment status

Late

Projected term

3 months

Lenders

Paul Buchheit

Mountain View, United States

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  • Simeon    Jul 1, 2019

    my goods got damaged by rain. so couldn't meet up with the initial plan.

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  • Simeon    May 7, 2019

    The last loan could buy fee goods which I was able to turn around for three times before repayment.

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  • Simeon    Mar 26, 2019

    thank you the zinc team. if approved I will use the loan for goods purchase and run mentanace on my van.

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  • Simeon    Mar 20, 2019

    thank you zinc team once again for believing in me. I used the said loan to buy more fixed agricultural product that is cassava flour (garri).the real amount released was above 50000.so I manage to buy 10bags.which is now 4500ngn each totaling 45000 .and was sold for 5500ngn.was able to use it three times before returning the loan. need more to be able to buy more because it a business of volumes.


    thank you zinc team for the loan. I intended buying tree bags of garri (cassava flour) for retails but after the deduction from the loan am left to buy just one bag at cost of 5500ngn per bag. and the remaining change for my bus mentainace .am looking forward for a bigger loan to be able to satisfy my customers.

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