Entrepreneur
Name
James
Member since
June 2014
On-time repayments
329 installments • 96%
About Me
I am a 47 years old married man with four children; three sons and one daughter.
I work as a minister of the gospel, and am paid a monthly salary, which helps for my upkeep and supporting my family.
Lately, I have found myself straining a little as my children progress to higher levels of education, two of them currently in Secondary School, while the third-born is in a private boarding school. I have therefore had to look for a side job to make ends meet.
My Business
I have been trading in mobile phones in a small way from retailers well known to me, selling a piece at a time and earning a commission.
Having realized my selling skill, I wish to buy a few handsets from him at wholesale price, so that I can sell at retail and earn from the markup as this will be significantly higher than the commission.
I have been selling approx. five handsets a week, earning a commission of approx. $10 per piece, which totals to $50 per week. When I buy the handsets and sell them as my own stock, I will be able to make $20 per piece, which would double my earnings.
My startup costs will be significantly low, as my friend/supplier is willing to store the handsets for me as I do office-to-office deliveries against orders made online/by phone. - I have been using www.olx.co.ke to advertise the phones I sell, a website greatly used in Kenya for person-to-person selling, removing the need for a physical premises.
However, after I have grown sufficient capital, I hope to do car-boot phone sells, from my small car, parking at strategic areas around market centres, and in the long run also have a central distribution shop in the town centre.
Hopefully, this will in the long run help me to cross over to become a Zidisha lender to also also help others who, in future, will wish to start how I have started.
Loan Proposal
I first appreciate Zidisha team for giving me an opportunity by lending me funds to improve my mobile phone business. The amount of 150 dollars you gave me eased the way I respond to clients because have ready cash at hand i.e An orders for a piece is placed,there is an immediate response because there is no waste of time for moving around borrowing cash from friends.Thanks a lot.
As I apply for this second loan,I have targeted this festive season because mobile phone sales gets better.
I have budgeted to put 180 dollars on mobile phone handsets purchases,this means I will have some readily available hands sets which I plan to sell as I move from town to town by displaying them on my car boot.This is a method we use here in kenya.
I will put 50 dollars into purchasing of the license because the law of our country demands so.
The remaining amount of 65 dollars will go to the initial method I have been using of supplying to the clients as per demand.This way I feel there will be a great improvement in my business.From the look of things its possible to make a profit of 100 dollars in day.
Thank you so much for your continued support .
About Me
I am a 47 years old married man with four children; three sons and one daughter.
I work as a minister of the gospel, and am paid a monthly salary, which helps for my upkeep and supporting my family.
Lately, I have found myself straining a little as my children progress to higher levels of education, two of them currently in Secondary School, while the third-born is in a private boarding school. I have therefore had to look for a side hassle to make ends meet.
My Business
I have been trading in mobile phones in a small way from retailers well known to me, selling a piece at a time and earning a commission.
Having realized my selling skill, I wish to buy a few handsets from him at wholesale price, so that I can sell at retail and earn from the markup as this will be significantly higher than the commission.
I have been selling approx. five handsets a week, earning a commission of approx. $10 per piece, which totals to $50 per week. When I buy the handsets and sell them as my own stock, I will be able to make $20 per piece, which would double my earnings.
My startup costs will be significantly low, as my friend/supplier is willing to store the handsets for me as I do office-to-office deliveries against orders made online/by phone. - I have been using www.olx.co.ke to advertise the phones I sell, a website greatly used in Kenya for person-to-person selling, removing the need for a physical premises.
However, after I have grown sufficient capital, I hope to do car-boot phone sells, from my small car, parking at strategic areas around market centres, and in the long run also have a central distribution shop in the town centre.
Hopefully, this will in the long run help me to cross over to become a Zidisha lender to also also help others who, in future, will wish to start how I have started.
Loan Proposal
I first appreciate Zidisha team for giving me an opportunity by lending me funds to improve my mobile phone business. The amount of 150 dollars you gave me eased the way I respond to clients because have ready cash at hand i.e An orders for a piece is placed,there is an immediate response because there is no waste of time for moving around borrowing cash from friends.Thanks a lot.
As I apply for this second loan,I have targeted this festive season because mobile phone sales gets better.
I have budgeted to put 180 dollars on mobile phone handsets purchases,this means I will have some readily available hands sets which I plan to sell as I move from town to town by displaying them on my car boot.This is a method we use here in kenya.
I will put 50 dollars into purchasing of the license because the law of our country demands so.
The remaining amount of 65 dollars will go to the initial method I have been using of supplying to the clients as per demand.This way I feel there will be a great improvement in my business.From the look of things its possible to make a profit of 100 dollars in day.
Thank you so much for your continued support .
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Loan Info
Project Type
Classic Loan
Disbursed amount
$295.00
Date disbursed
Nov 14, 2014
Repayment status
On Time
Projected term
11 months
Other loans
Lenders
Chicago, United States
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