To buy a plot to station my kerosene pump

Benson Muhu

Kiptangwanyi, Kenya

100% repaid

Entrepreneur

Name

Benson Muhu

Member since

August 2012

On-time repayments

241 installments  •  91%

About Me

I live in Kiptangwanyi shopping center which is approximately 43km from Nakuru town. Nakuru town is our nearest major town within this area. I am married with four children, three of them are schooling at a nearby school. I live in plot number 52B at the shopping center where I carry out my business with my family. My business entails a kerosene pump at the shopping center. The business is profitable as kerosene is an essential commodity.

My Business

I engage in the services of providing kerosene at the shopping center. The business is profitable as kerosene is an essential commodity in this area especially in the villages surrounding the shopping center. Most areas in this region are not connected with the electricity prompting them to use kerosene and therefore the demand for this commodity is very high. The challenges that this business face are lack of finances to expand the business and frequent fluctuation of world fuel prices.

Loan Proposal

Dear lenders,
I am grateful for another chance of improving my livelihood in this platform. I wish to use this loan to purchase a plot in my town where i will station my diesel electric pump. This will cut down on the rent i pay and eventually help me increase my profits. I integrated selling diesel in my small kerosene shop and I manage to sell to tractors and lorries this commodity therefore this will also create a bigger space where i will comfortably serve my customers. The plot will cost 100000ksh(978.47US dollars) The loan from Zidisha is 42143ksh(412.35US dollars). the remaining amount(566 US dollars) will be from my little savings that i have. I hope to increase my monthly revenues to ksh 50000(489US dollars).
Thank you

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$420.00

Date disbursed

Feb 15, 2016

Repayment status

On Time

Projected term

3 months

Cost to entrepreneur

Service fee: $17.44

Benson opted to pay $107.96 into the Zidisha Members Loan Fund in return for a higher starting credit limit.

Lenders

Craig Newmark

United States

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