Entrepreneur
Name
Stephen Kimani
Member since
February 2015
On-time repayments
326 installments • 77%
About Me
My name is Stephen Kimani, but my friends call me Steve. I was born in Kiambu County in the central highlands of Kenya twenty three years ago. I was born in a farming community where most people are involved in food farming as well as livestock keeping. My parents are such farmers and I spent my childhood years in our farm helping them in their farming activities.
I went for primary school and later joined secondary school for my basic education. I did a course in electronics maintenance later and I am a qualified technician in mobile phone repair. However, I did not pursue that career because the I found the work too demanding and with very low income.
It is then that I decided to relocate to Mombasa town to live with a relative who had a business of selling motor vehicle spare parts. I worked for him for two years as a shop attendant and then decided to start my own business of selling second hand books. This is what I am still doing to date.
My Business
I deal with selling of second hand school books. I normally get the old books from parents whose children graduate to the next classes. This is a common practice in Kenya where old books are passed on to those who are in lower classes instead of buying new books which are more expensive.
I also sell new books when I run out old books stocks but this is very rare. The business is quite profitable since my profit margin is about 40%. The main challenge of this business is that it is seasonal and it normally peaks when a new school term begins usually in the months of January, May and September.
My business gives me a net income of about $200 per month. I spend this money to buy more stock and for my upkeep.
I run my business from a roadside structure but my dream is to have a secure store where the books will be safe from thieves and the elements.
Loan Proposal
When i will receive the requested monay i will use it to add stock in my books stores targetting to sell the books during the next term which is starting from next month may. This will double my profit and help me to pay my college school fees and also repaying the loan within the right time.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$1,267.01
Date disbursed
Apr 15, 2019
Repayment status
Late
Projected term
28 months
Cost to entrepreneur
Service fee: $50.29
Credit risk payment:
$301.80
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