Supplies for my grocery store

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 will buy the same commodities that I usually do, but I will buy in bulk so that I will not have shortages of commodities. I should make about 350 kwacha (27 USD) in profit from this loan.
cooking oil - 11 USD/12 bottles
washing paste - 12USD/box
soda - 4 USD/crate
bath soap - 9 USD/box

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

$140.88

Date disbursed

Dec 20, 2015

Repayment status

On Time

Projected term

18 months

Cost to entrepreneur

Service fee: $3.31

Richard opted to pay $0.30 into the Zidisha Members Loan Fund in return for a higher starting credit limit.

Lenders

Laurie

Sry, Canada

Roy

Espoo, Finland

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