Entrepreneur
Name
Charles
Member since
February 2015
On-time repayments
52 installments • 46%
About Me
My name is Charles Tongi. I come from kisii town in Kenya from the west part of it. I am 27 years of age and out of college with a diploma in mass-communication. I am second born in a family of seven children, two sisters and four brothers.
Getting employment here has been so hectic going from one town to another. It is from my traveling searching for job that made me learn to self-employment in business. I started buying clothes in wholesale price and selling them in retail price.This is exactly how I started the business because Clothes are on high demand based on this fact. A friend of mine who new that I was still struggling with work capital introduced and invited me to join the peer-to-peer online lending.
I have learn't from other people's mistake that I always ensure that I do not give in to hardships and challenges in life. The time that I was desperate for a job, after going to many offices in different town, I got exposed to the business world and I decided to start my own business. I did overcome my depression of seeking and not finding job because from my business I gradually improved my financial status.
In my culture people are very many than the land available for them. In a small piece of land you can find a whole family gathered and living there. In a small room you can find 10 people living in the room. The very unique thing is that when disagreements or family violence occur due to overcrowding, small boys of age 10 are the one settling disputes. This is unique to our culture different from other culture where old men settle disputes.
My Business
I do sell second hand clothes which I buy them in wholesale price and sell in retail price. In town, I started a small store shop where I display clothes and sell. Customers come and they bargain prices but I make sure that I sell at a profit.
This business of selling second hand clothes is on high demand because many of my customers are not rich, they come to buy because they afford the prices.
The middle class income and low class people do not afford to buy clothes in big shops but they come to us and buy them. The clothes are not such bad and they are not worn out, one can even considered them new clothes but in actual fact they are second hand clothes. Clothes is a fast moving product since no one affords to walk naked.
In a month I buy clothes worth $100and sell them at $180, thus making a revenue of $250. I use this revenue to reinvest in the business and also meet my daily needs such as food and transport. I also use my revenue to pay for electricity bills and pay rent.due to the first loan that i received ,i was able to re stoke my store with my customers required segments.am looking forward to achieving my dreams through this lovely family zidisha. my target is to create job opportunities for young individuals.
Loan Proposal
Given an opportunity to get this money, first I will ensure that I have manage enough stock in my shop to meet my customers demand to avoid losing them to other sellers. I will use the money to buy the following items with prices as indicated: 10 jean trousers that will cost $20; 20 shirts that will cost $10; 5 skirts for ladies that will cost $10 and 5 heavy jackets that will cost $10. All these will make a very good stock for my clothing business.
I will greatly benefit from this. When I sell my clothes I will get a revenue of $60 in a month. i will use this money to do loan repayments every week. My customers too benefit. Due to my close relationship with customers I can perfectly tell their taste of clothing and preferable sizes thus making it easier for me to select stock that will move fast and generate income in a shortest time.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Feb 9, 2015
Repayment status
On Time
Projected term
2 months
Other loans
Lenders
Germany
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