To buy welding machine to use in my workshop

Gidieon Kimani

Kihoto Estate Naivasha, Kenya

7% repaid

Entrepreneur

Name

Gidieon Kimani

Member since

March 2014

On-time repayments

308 installments  •  9%

About Me

am Gideon kimani.i live in naivasha at kihoto estate.I live in my small own house.i was born in nyeri district at othaya.I lastly went to school chinga high school where i finished in 200.6.Am married with three children two boys and a girl.My wife is called Margret and is a green grocer.Am a welder having trained at a polytechnic after school.I have a workshop at kihoto near my home.I make about $400 a month.I use $200 for my upkeep save $100 and reinvest $100 in my business.My future abation is to build a big workshop capable of supplying to the whole country.the undertaking requires a lot of capital which i hope to raise from your loan in future.Am an active catholic in faith and an active choir member.Sometimes i train surrounding secondary school music for music festivals and i have ever taken a choir up to the national level.Other hobbies are swimming and taking care of the environment

My Business

my business involve a welding work shop.I make metal door window grills, beds,and general metal fabrication.I have employed two people in the workshop.The business is good since there is a lot of construction in Naivasha as it is a growing town.The people who buy doors and grills use them to construct their houses.The challenges i face is the cost of material and their transportation.My customers prefer me because am a trained welder and am able to make high quality items.I make about $400 which i use $200 for my upkeep.Am left with about $200 at my own disposal to either save or reinvest in my business.This amount is usable to pay your loan.Why i need your loan is to help me buy equipments to make posho mills.Posho mills are used to grid maize making flour.They are very marketable in my country since maize flour is the staple food.Many farmers grow maize.I will be able to supply the whole country with posho mills.The machinery cost about $10000 which i hope to raise from your loan as i progress to higher amount.I want to expand my business also make farm machinery chaff cater and proughs and also irrigation equipment.If i expand mu business i will create employment for the youth since unemployment is a major challenge in Kenya.I hope to export my items to the neighboring countries earning my country foreign exchange which would contribute to economic growth of our country.I also want to start training young men and women my trade in my workshop in a way of helping the community.All these undertakings require huge investment and your loans will a great deal in accomplishing them.Thank you in advance

Loan Proposal

since taking the previous zidisha loans my business of making doors and windows in my workshop has improved tremendously.The profit i have made from these loans have enabled me to be able to buy materialism cash instead of taking them on credit.The volume in my business has increased and now i i have more customers since am able to finish jobs in time.I now want to start upgrading the machinery since the ones i have are old,of low quality and sometimes unreliable since they break down.This loan will help me acquire new modern welding machine which cost about sh60000.I will add the rest of the money.This will be a boast since it will add efficiency in my workshop.I hope to continue upgrading more machinery as i take more loans in future

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$440.89

Date disbursed

Sep 9, 2014

Repayment status

Late

Projected term

68 months

Cost to entrepreneur

Lender interest: $440.89 at 4.19% annual rate over 68 months = $104.09

Service fee: $89.75

Lenders

I

Interfree

Dubai, United Arab Emirates

C

cjmenchaca

Austin, United States

S

SelvaMarcus

Green Cove Springs, United States

phytoplankton

United States

ads68

Melbourne, Australia

B

bonndan

Bonn, Germany

Sarasota

Sarasota, Fl, United States

Sirko

Brandenburg An Der Havel, Germany

dlpringle

Denver, United States

pvilliger

Zurich, Switzerland

Matching Fund

Sterling, United States

J

JacobvdW

Netherlands

mepster

San Francisco, Ca, United States

A

AnnaLou

Switzerland

Vesa

Helsinki, Finland

Mikers

Netherlands

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