Adding more stock of clothes in my shop

Charles Mwangi Waiya

Kiratina, Kenya

21% repaid

Entrepreneur

Name

Charles Mwangi Waiya

Location

Kiratina, Kenya

On-time repayments

249 weekly installments  •  71%

About Me

My name is Mwangi Waiya,age 24 and currently residing in Nakuru,Kenya. I am the last born in a family of four, having one brother and two sisters. I lost my father at a tender age,and therefore i didn't know much about him. This accelerated hardships in our family since my mum being a widow and the same time the bread-winner had to toil and moil to feed us. I had to spend most of the days at home than being in school, not that i really enjoyed being in home, but because my mother's small hotel income would not sustain us and school fees included. This forced me to do casual jobs after school at least to assist my mum to pay for school fees.I had to face unbearable challenges for many years in education. But patience and perseverance enabled me to face everything calmly. After completing High School my sister took me in where she sought a cleaning job for me at a nearby office. I was employed at Lamp & light of Kenya, After one year i got an unexpected promotion due to my diligence and commitment.This opened a chance for me to start saving some small money from my monthly income that enabled me to open a small clothes shop.

My Business

Since childhood I have always been wanted to become a successful businessman. Having been born in a community that embraces business as a way of living and taking risks as a part of life,this revived my passion for operating my own business. Clothes being in big demand in suburb of Nakuru area,since making a travel to Nakuru Town is 120 shillings to and fro many people prefer purchasing clothes and other related items away from town. This has been an advantage and an excellent boost to my business forcing me to employ a committed young man to do sales since i have to be in office. Passion and enthusiasm has driven me to do this job and i am looking forward to opening another job in a different area if assisted. Reaching many people through a better service has always been my thirst. It would be a thrilling moment for me to open another clothes shop,because i have experienced and learn t a lot that i would enjoy expanding to different areas. I make a positive profit of between Ksh1000-Ksh2000 weekly that i believe will enable me to repay the loan offered to me on time.I use some profit to invest in my mother's cereal shop because she has been invaluable and very present when i needed her the most. I do invest also in business that i am extremely optimistic will grow some day in future. My dream is to become a helpful,prosperous businessman in the society and possibly to help many young people realize and go after their valid dreams . Getting assistance is one way of making this a reality, and i warmly welcome any help offered to me,to be able to expand my business that i adore very much. I promise to repay back the loan punctually, without failure or disappointments. Thanks a lot

Loan Proposal

Am planning forward to buying :

2 Bales of trousers costing 200USD .
Profit made after selling all trousers is 50USD on each bale
Total profit made after selling the entire Bales of trousers is USD 100.

2 Bales of Shirts costing 150USD
Profit going to be made on each Bale is 150USD
Total profit made after all shirts sale is 150USD.

60 pairs of socks costing 20USD
Each pair cost 0.3USD equivalent to Ksh 30
I plan to sell each pair at Ksh 50, making a profit of 0.2USD per pair.
Total profit gained after selling all pairs of socks is 120USD

Any other Profit gained i intend to use it in sustaining the family and adding more stocks in my business.
This will also enable me repay back the loan in time and efficiently, and see even how i can raise the livelihoods of my community and fulfilling my dreams of always running my business.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$373.91

Date disbursed

Aug 4, 2018

Repayment status

Late

Projected term

30 months

Cost to entrepreneur

Service fee: 5% of $373.91 = $16.81

Credit risk payment: $42.02

Lenders

Pere

Barcelona, Spain

Cloudways

Malta, Malta

ads68

Melbourne, Australia

P

Peksa

Espoo, Finland

JC

Jordi Cohen

New York, NY, United States

Z

zvrk2014

Brookline, MA, United States

B

bugdaniel

Switzerland

trincowski

Vilar, Vila do Conde, Portugal

SuperMario28

Cudahy, United States

W

Wade

United States

JK

Hamburg, Germany

AH

ajay hampapur

United States

IH

Isaac Hileman

United States

KirstenAlana

Los Angeles, United States

Ed

Howells, United States

BP

Bill Piper

United States

A

Anonymous

United States

Salvatore Martello

New York, New York, United States

Christian

Vienna, Austria

S

Sarah

Arlington, United States

daniel

maryborough, Australia

BA

Burf and Patsy

St. John's, Canada

Dao Nguyen

austin, United States

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