Entrepreneur
Name
Stephen
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
If given this money, I will spend it to buy a new batch of second hand books to boost my current stock. The most popular books that I sell are dictionaries and atlases. I intend to buy 4 Oxford dictionaries at a total cost of $40 and 3 world atlases for $30. These are fast moving books and I am sure I will be able to sell them within a very short time.
The expected return will help me grow my business at even a faster rate and bring my dream of moving into a better place even closer.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Apr 13, 2015
Repayment status
On Time
Projected term
4 months
Lenders
Liminka, Finland
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