Business expansion financing

James

Thika, Kenya

100% repaid

Entrepreneur

Name

James

Member since

August 2013

On-time repayments

303 installments  •  40%

About Me

i am James Muigai maina 24 years old. i come from a family of three,where i have 2 small brothers one in primary school and the other in high school. i am a certified public accountant of Kenya and currently i am pursuing my bachelors course online.i recently got a job in thika where by i work as an M-PESA attendant in thika town. due to the financial condition because my father recently was involved in an accident and lost his arm i have had the obligation of supporting my family. due to this factors i thought of a business venture of selling males shirts and female tops.

My Business

as i said earlier i came in to the business of selling female tops and male shirts, this i do it mostly in the evening during the rush hour where by i have been standing in thika town streets mainly near Gathimaini Chemist and also near Mac-vast hotel which are the major streets in Thika and have the most population during the rush hour. i decided to deal with female tops and male shirts mainly because of the nature of ladies being so much into impulse buying. i buy these clothes from Gikomba market where for example i buy a shirt at 100 shillings and then when i come to selling i do sell them at least at 200 shillings thereby making a profit of at least 100 shilling per cloth and due to my reliability i have been able to have some loyal customers and thus i am able to make sales each evening to about 6 people thus making a profit of at least 600 shillings which i use to assist my family and pay for my school fees.i also started a photocopy business which is also much profitable, although i have not yet been able to come up with a method of determining the profit per unit but so far it has reached the break even point.

Loan Proposal

i intend to use the 48 dollars in the following manner: 42% which is equivalent to 20 dollars i will invest in female tops which goes for around 1.2 dollars each hence add my stock with 17 pieces, also use 42% in male shirts which also goes for about 1.2 dollars each hence add my stock with around 17 pieces and use the remaining 8 dollars as fare and facilitation to the market to purchase my stocks.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$50.00

Date disbursed

Mar 12, 2014

Repayment status

On Time

Projected term

5 weeks

Lenders

J

Jopar

Corroios, Portugal

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