Lender Interest: $994.85 at 4.15% annual rate over 12 months = $41.29
Service Fee: $994.85 at 5% annual rate over 12 months = $49.74
Total Loan Cost:
$41.29 + $49.74 = $91.03
Upon joining Zidisha, Nicholas paid a lifetime membership fee of $0.00.
Nicholas also deposited $168.75 into the Zidisha Members Loan Fund as security for lenders against default. Nicholas may withdraw the Members Loan Fund deposit at any time, as long as all outstanding loan amounts are repaid to lenders.
The cost paid to join Zidisha is only paid once and entitles Nicholas to raise an unlimited number of loans at zero interest. Learn more
I am a man aged 50years with a wife and now 5 beautiful children.I am a businessman, runing a shop at mitimingi trading centre. I deal with consumables and non consumables. Zidisha team and the lenders have assisted me so much and improved my standard of living and that of my family. With profits from loans granted, i have taken my children to good schools and three of them are in universities now a proud to say my firstborn born daughter graduation is this December. Thanks
to zidisha lenders and entire for regular and timely loans over the years. I need another loan to boost my business and repair my vehicle which i use to transport goods at my shop.
my business deals with selling both consumable and non consumable goods. this includes food stuffs, farm inputs(fertilizers, seeds), farm tools(hoes, spades, axe), animal feeds. this business also include a boutique. the business is worth kshs 200000, and approximately makes a profit of kshs 15000 every month after paying all the bills and paying a salary of kshs 10000 to my employees. challenges in running the business are, counterfeit goods in the market but cost like the genuine good but of low quality, change of fashion, unpredictable change of foods stuff prices, high competation, poor infrastructure eg poor roads during rainy season leading to high cost of trasportion.
The planting season is around the corner and this is the appropriate time to stock my small business with seeds(maize and beans), fertilizers and farm impliments like hoes and jembes. At this time the seeds are readily available as many people are waiting for the last minute rush. I would therefore like some little assistance in terms of finances so that i take advantage of the opportunity at hand. Any help accorded to me will be highly appreciated. I hope to make profit from the sale of stock because as of now, i can manage to fully stock my shop since the prices of goods is relatively cheap. Transport is also not a problem as the rains have not started so the roads are still passable. This makes it even the best time to purchase goods and stock my shop.
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