Expand my shoe business for the upcoming rainy season

Peter Serem

Nairobi, Kenya

100% repaid

Entrepreneur

Name

Peter Serem

Member since

February 2015

On-time repayments

145 installments  •  32%

About Me

I was born in the Rift Valley region of Kenya. This region is famous for producing over 90% of Kenyan long distance runners who have gone on to conquer the world. Naturally, as I grew up, my dream (as well as that of almost every other young child there) was to become a track athlete. I was never successful to this end, partly because of the intense competition and the injuries that halted my development, but I maintained a healthy and fit lifestyle. Unfortunately, I did not continue my education past O levels and so did not get the opportunity to land a good formal job. I decided to venture in business and naturally, I settled on selling second hand as well as brand new sport shoes because of my love for 'the track'.

My Business

I sell new and used sport shoes. Due the increased appetite for leading a healthy lifestyle, there has been increased demand for sportswear. A key and vital component of a sporty wear is shoes. My clients are mostly people who require shoes for exercising but there are others who just love sport shoes for their trendy look.
My typical monthly costs usually include $60 for rental space, $30 for trading licenses and miscellaneous expenses of about $30. I get revenues of about $450 a month with profits averaging $200. I use the profits for my family expenses, paying fees and growing the business. As explained above, i use a rental space to do my business and its just a temporary structure so i humbly request for a loan to built a semi permanent structure so as to improve my business environment thus improving it.

Loan Proposal

Dear Lenders,

I intend to expand my shoe business by including Gum Boots as the rainy season in Kenya is soon approaching. Previously, I have been witnessing reduced sales during the rainy season but I have decided to take measures to boost my earnings this time round. I will acquire new stock of 20 Gum Boots at a total cost of $100 ($5 each).
This will allow me to protect my profitability as well as possibly enhance my profits. I will also be selling a product that will be in demand because of the weather conditions. For the months of March and April, I expect to realize an additional profit of about $100 as a result of this additional investment, which I hope will allow me to repay the loan comfortably.
Your support will go a long way to helping me build my business and possibly change my life and those around me. Thank you.

Kind regards,
Peter

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$100.33

Date disbursed

Mar 5, 2015

Repayment status

On Time

Projected term

2 months

Cost to entrepreneur

Service fee: $0.76

Lenders

H

Hilke

Bremen, Germany

W

wmonroe

Paris, France

N

Neoptol

Zell am See, Austria

S_Begay

Allston, United States

F

Fabrizio

Grottaferrata, Italy

M

Monarch84

Las Vegas, United States

thepaddy

Essen, Germany

zebby24

Ft.myers, United States

Dymero

Manchester, United States

G

Givemoreuseless

Waterloo, Canada

C

cperkins

United States

artzrouni

Pau, France

J

jra299

New York, United States

S

Spock

Koeln, Germany

HI

Highly Improbable

Saskatoon, Canada

T

TMDunn

Pelham Manor, New York, United States

Irvin

Vancouver, Canada

Jakub

Velke Svatonovice, Czech Republic

D

dbedell

Brooklyn, United States

J

johan

Oslo, Norway

P

Peter

München, Germany

A

ahnante

Yokohama, Japan

torelizer

Reggio Emilia, Italy

M

MarkAndMary

Seattle, United States

J

JonnyPrice

San Francisco, United States

M

MrMc2

Saugerties, United States

A

aniculai

GENK, Belgium

Veronika

victoria, Canada

McJulio

New Jersey, United States

TM

Theo Mbise

Switzerland

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