Additional stock for my secondhand clothing business

Dominic

Mishomoroni, Kenya

100% repaid

Entrepreneur

Name

Dominic

Member since

October 2016

On-time repayments

153 installments  •  35%

About Me

My name is Mwangi, a small time businessman in an area called Mishomoroni city. I was born in the central highlands of Kenya and this area is has rich soils and reliable rainfall. However, there is a high population density and the farms are too small to sustain large families like my dad's.

This is what led me to move from there to a distant town - Mombasa where I started living with my brother before finally moving to a smaller town called Mishomoroni where I do my business.

My Business

I deal with sale of second hand clothes where I buy at a wholesale price and sell at retail price. My profit margin ranges from 20 - 30% and my income is about USD 180 per month after paying my rent and other small bills. This is what feeds my family and takes the little one to school.

My business has been growing year after year and I hope it will now be catapulted by credit that I will be getting from Zidisha. Thank you for giving me this rare opportunity.

Loan Proposal

I will use the money to buy more stock of used clothes so as to satisfy the needs of my customers. I hope to use this money to get a better quality type of clothes which will attract more buyers.

I hope to make some tidy profit from this venture which will help me in repaying this loan as well as expanding my business. This eventually will benefit me by making it possible to give my family a better quality life.

Feedback

1

None

None

  • Margaret    Sep 14, 2017

    Dominic paid his loan off very early. would gladly lend to him again and encourage others to do the same.

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Loan Info

Project Type

Classic Loan

Disbursed amount

$156.00

Date disbursed

Aug 2, 2017

Repayment status

On Time

Projected term

7 months

Lenders

L

ldron7

Utah, United States

G

Goodwill

Oakland, United States

L

leniwiec

Poznan, Poland

lizandsteve

guelph, Canada

K

Kudrnova

Czech Republic

Paul Buchheit

Mountain View, United States

johnhudson

Washington, DC, United States

MD

Miles Dodge

CORVALLIS, United States

PG

Paul Graham

United States

GN

Gabriel N

Switzerland

J

James

United States

Craig Newmark

United States

The Zinc Team

San Francisco, United States

Humble Bundle Community

San Francisco, United States

K

Kyle

Durban, United Kingdom

D

Dalton

San Francisco, United States

GS

Gary Sinard

Franklin, TN, United States

M

Margaret

United States

Bo Rosén

Eslöv, Sweden

EC

Edward Conrads

San Francisco, United States

S

seahillpark

United States

A

Andrew

United States

R

RMIM

United States

DW

Dan Winetsky

United States

Paul Buchheit

Mountain View, United States

SS

Sandi Smith

Pimpama. Queensland, Australia

Keith Chan

Toronto, Canada

A

Anonymous

United States

Sean Richards

Wilmette, United States

CN

Craig Newmark

United States

JG

Jake Gibson and Beverly Picardo

San Francisco, United States

AW

Annie W

United States

RD

Ryan Duffy

United States

MP

Michael Poley

United States

Kiva Club

United States

AP

Ariel Pollak

United States

Daniel Toke Hansen

Copenhagen, Denmark

LM

Lee Montecucco

Washington State, United States

MB

MW Brown

United Kingdom

R

Richard

United Kingdom

Ask Dominic a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.

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  • Margaret    Aug 19, 2018

    Hi Dominic,
    ,
    Please make an effort to repay your loan. Zidisha offers a wonderful opportunity to grow your business and perhaps open another one in the future. We all understand that unexpected things happen but Zidisha provides you the tools to change your payment amount and schedule at any time by simply logging into your account. Show respect to your mentor and lenders by making repayments. Regards, Margaret

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  • Dominic    Dec 7, 2017

    I am currently not working because I went back to my rural home to take care of some emergencies. I will resume in a few week's time and revert to my initial installment.

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  • Justine    Nov 30, 2017

    hi lenders today have communicated to Mr dominic and he said due to business going slow, made him was not able to repay early but he will make payment soon as possible

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  • Dominic    Sep 18, 2017

    I will use the loan to buy more used clothes to sell as we approach end of the year when sales are expected to grow.
    Thank you very much.

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  • Margaret    Sep 14, 2017

    Hi Dominic,
    I am glad to hear that your business was increased with the loan. You paid it back super fast! Regards, Margaret

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  • Dominic    Sep 5, 2017

    Thank you for the loan. I bought more stock with the money and the business is doing well due to the cash injection.

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  • Dominic    Jul 29, 2017

    Thank you for the loan. I will use it to increase my stock.

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  • Dominic    Jul 22, 2017

    I was able to get more stock which did amazingly well. I was able to clear this loan before time since business is doing well. Thank you very much.

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  • Dominic    Mar 17, 2017

    Hello, I will use the money get more stock to resell. Thank you very much for helping in my business expansion plans.

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  • Dominic    Mar 13, 2017

    Thank you for the loan. I managed to get a stock of jackets and also managed to have my premised painted. It was a good start for this year. Thanks to your generosity and kind hearts.

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  • Dominic    Feb 6, 2017

    My business is doing well and my sales have increased due to the new stock. I managed to buy jackets which have proved to be popular with my clients. This was a good way of starting this new year and I say thank you very much.

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  • Dominic    Dec 29, 2016

    I will buy more trendy jackets to resell at a total of USD 45
    2. Give my stall a face lift by painting the exterior side. USD 15

    Thank you very much for this support.

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  • Dominic    Dec 16, 2016

    Thanks lenders. I bought a few jackets with the money I received two months ago. I am glad for the opportunity to apply for a bigger second loan which will help me grow my business even further.

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  • Dominic    Oct 15, 2016

    Dear lenders, I want to take this opportunity to thank you so much for giving me this loan. More importantly, I thank Zidisha team for allowing me to get into Zidisha system and I expect to gain much more from this program.

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