Total loan: $1,225


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Lusaka, Lusaka Province, Zambia / Services

Isaac's loan finished fundraising,
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A loan helped To buy two trading kiosks and provide financial services needed by the10 million people in Zambia without bank accounts and to make jobs.

Isaac's story

Isaac is a determined man of 34, he is married and has a 3-year-old child. Isaac has been running his money transfer business in one of the townships called Zingalume in Lusaka, Zambia since November, 2014. He is requesting for a loan in order to purchase the two trading kiosk which he is currently using and to provide the funds needed to serve customers. The loan will also be used to employ one person to help serve customers faster. Access to financial services in Zambia is both scarce and expensive. Close to 10 million Zambians, do not have bank accounts. Distance and transportation factors hinder access to available financial services. Zoona is a company that specializes in low-cost mobile money and other financial transaction services by propagating an open network using small businesses called Agents. Isaac is one of the Agents, he earns a profit for every transaction that he makes at the kiosks. This is his story: When Isaac first started his business his main focus was to get people in his community to know about the service that he provides. He started off by doing direct sales to customers in his community by distributing flyers and explaining his business to them in person. His strategy paid off because barely a month later his transactions had increased from a mere 10 transactions a day to 30 transactions a day. He then set up his second outlet and because of the quick growth of his business he faces the challenge of working float (electronic and cash value of his working capital) which means he does not have enough working capital to satisfy his customers from time to time. He frequently has to close his shops and make trips to the bank to convert his electronic money to cash and vice versa. Isaac is certain that purchasing his trading kiosks so that he can own them and the capital injection in his business will help him grow his business and earn more profits. The profits will help him to provide basic needs for his family, as the business is his only source of income.