318 installments • 14%
My names are Alice Njoki Wambugu, a resident of Othaya. I was born in Muranga and this is the place we resided with my parents. I later relocated to Othaya after completing my secondary education. I got married in this area and we are blessed with three children. One is in a boarding secondary school within the area and the other two are in primary school. The area is very fertile and there is a lot of tea allover the area of Othaya. In our small piece of land we have planted some tea but this is not very usually good for commercial purposes. This is because the quantity produced yearly is not that much. I live in my own piece of land which is plot number 1581. I started a small business mali mali in the town of Othaya. This is a business that deals with selling of house hold items such as utensils, kitchen ware and all that is used in house hold daily chores. This business is good as It has enabled me to provide for my family.
I started this business of Malimali in the year 2005 and it has been running well since then. I started this business in the open market where I only sold my items during the weekly market days. There are only two market days in this area in every week. This means that when the days are affected by events such as rainfall which is very common in this area, I sold very few items and sometimes nothing. But I kept on the spirit and with the small savings that i was making, I was able to rent a house within the town and the business now transformed into a daily business. Nowadays I open the business daily, and I can really say that this changed everything as now the revenues I get from the business are far much higher compared to when I was operating on two days a week. I hope to improve this business even more with this loan that i will get from Zidisha organization. the main challenges that this business encounter are lack of enough funds to expand the business.
Thank you lenders,
This loan will be of very great importance in my business of Malimali. I will use the money to buy more stock and also to rent one more room where I will be storing more stock for my business. I usually store my stock in a very congested room and this is usually inconveniencing as when I have many customers I am not able to serve them properly.
Jan 28, 2013
Cost to entrepreneur
Lender interest: $497.32 at 9.67% annual rate over 7 months = $31.39
Service fee: $11.46