196 installments • 22%
I live in Nairobi Buruburu Estate with my family, one child in standard one in a nearby private school, am a Pastor at Kenya Assemlies of God Pumwani Slums in Nairobi and I started this business early this year - 2012 with the aim of improving the life of vulnerable women, youth and children infected and affected with HIV &AIDS in Tumaini NGO -website (www.tumainifund.org) . I am tyring to improve tumaini members to join zindisha microfinance to empower their business through borrowing loans. zindisha has helped me to think out of the box and also aidded in my future growth, in my family we have seen changes though zindisha financial aid which has improved our living standards. the second loan will help me expand my business to another level.
I sell hand-made bags that are currently on high demand as we now approach chrtismas period since more tourists are visiting the country; this makes it a very profitable business need to expand.When all factors are favourable for business i make a profit of close to 40% per month.
Challenges among others are, lack of huge stock due to shortage of finance, Transportation cost to the factory and also sometimes lack of stability in the country as this makes the tourists fear visiting the country.
The 40% of the loan will buy material to boost the weaving bag froom there also some of the profit will pay the maker and distributor us commision.The remaining 60% will boost the solar latern project which it will be sold at the rural area and it will also reduce the coast of the kerosen.some of the profit will pay the distributor and those who will show them how to use.
Nov 12, 2012
Cost to entrepreneur
Lender interest: $498.00 at 4.39% annual rate over 12 months = $23.20
Service fee: $19.38