I am a hardworking 26-year-old young man with an Accountant’s diploma. Through my tertiary education, I have wanted to grow a business and affect my world positively. I have worked with two banks previously in the retail, marketing and sales aspects and have developed great business skills such as direct marketing. I am where I am today because I have been opening my heart to new challenges and opportunities.
My business deals in the receiving and sending of money countrywide. I feel it is a service that impacts positively in my city because it is accommodating to people from all walks of life. Anyone can walk into my shop and be comfortable to transact business with me.
On a daily basis, I have over three hundred people come to my shop to send and receive money. However, I only serve about a hundred and fifty of them. This is because I do not have enough working capital to satisfy them all. The situation worsens when it is the end of the month, as that is the time of the month when most people in Lusaka get paid. I tend to have even more people come to transact money transfers. It is for this reason that I am taking out a loan. This loan will have a very big impact on my business because I will be able to serve all my customers and this will stimulate my revenue.
Getting this loan will also change my personal life. I will earn more profits and this will help me to finally move out of my parents' house and fulfill my responsibilities of helping out my family members.
More information about this loan
This loan is a combination of the following: 1) Capital Growth Loan: An asset-based loan provided to both existing and new Zoona agents for setting-up or expanding their mobile transactions business. Part of the amount is an in-kind loan to enable agents to acquire assets for their mobile transaction business. For existing agents, the loan is designed to inject medium-term working capital assistance to purchase additional assets or expand to new locations thereby helping their businesses grow. 2) Electronic Float Advance: Short-term liquidity assistance to qualifying Zoona agents to allow them to make mobile money payments when their electronic balance is too low to meet their immediate business needs. The loan is intended to provide borrowers with a boost to their electronic float to allow them to handle more revenue generating transactions and also give them a means to support transactions during peak demands. The borrowers will be able to draw down their electronic advance on a per-transaction basis. There are no monthly repayments, rather the borrowers will earn less commission on per transaction basis on the funds utilized from the advance. Repayments will include fixed monthly repayments for the capital growth portion and a bullet payment at the end of an 18-month term for the electronic float advance. By supporting this loan, you’re helping an entrepreneur set up or expand their business.
About Zoona:Zoona is a mobile money operator that invests in emerging entrepreneurs in Africa who provide underserved communities with financial inclusion. Zoona offers entrepreneurs an opportunity to build their own businesses and create wealth and employment through mobile payment solutions, financial services, business management tools and support. Kiva loans made through Zoona provide mobile banking service agents with funding for fixed asset purchases, setup expenses, and working capital float to ensure resources to manage cash in/out transaction requests.
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Success!! The loan was 100% repaid