Expanding my second hand clothes business(mitumba business)

Anthony

Rongai, Nairobi, Kenya

100% repaid

Entrepreneur

Name

Anthony

Member since

February 2015

On-time repayments

254 installments  •  34%

About Me

I am a 27 year old Kenyan, born in Kilifi County, within the Coastal province of Kenya.
I am the second-last borne in a family of 5 siblings; having been single parented since I was 10 years old; following the death of our father in the year 2001. My father was the bread winner of the family. After his demise, it was difficult for my mother to cater for each one of us. I acquired my primary and high school education in a local government schools with critical hardships. A year after I finished my Secondary school, it was even harder for my aging mother to cater for my college education. I then opted to stay with a friend to my brother living in Rongai, Nairobi who had offered to accommodate me in his premises as an assistant clothe salesman.
I worked for him for 3 years since 2009 and it was in 2012 where he gave me a loan of KSH 10000 (USD 112) to start up my own stall for clothe sales. By January 2013 I had saved enough money to start up my college education in Nairobi. I recall to have successfully relied on Zidisha loan to expand my start up while I was a third year in college because of the business that I started up then. My experience with Zidisha was the best thing that ever happened to my life; and was particularly helpful support from lenders in zidisha who made it possible. The disbursement from Zidisha assisted me administrative and expansion costs for my business. I was able to maximize profit which in turn helped me in reducing the cost of tuition and life generally.
I am now a teacher in a local primary school in Kilifi County. My mtumba (-second hand clothes) business is still running and I am currently adding another venture in keeping broilers for commercial purposes. I have been in touch with local experts who continue to advise me on best practice.

My Business

My project is on clothing sale. Having been mentored by a business associate, i have developed a good clientele but have now set off my own independent clothing sale business at the moment.

Ongata Rongai being a developing town in the precincts of Nairobi City with an increase in its population every single day, it provides a very wide market for my clothing business as is widely understood that second hand clothes have a wide market in Kenya.

The main reason as to why I started this business is owing to my previous engagement in the clothing industry and having identified the growing need for the clothes in the area, I believe that my stall will continue to meet this growing demand.

The whole business is currently worth KSHS 25,000 (Approximately USD250), This include the stall and the current stock. With this amount I am able to make a profit of at least KSHS 15,000 per month(USD150).

I intend to expand the capital base to at least KSHS 30,000(USD 300) with which I trust and am confident enough that the revenue will increase to KSHS 22,500 (USD 225). It is with notion that I wish to advance a loan from zidisha online lending and enable me expand this business and be able to meet the market demand which is increasing every day in RONGAI and its environs.

I intend to use the revenue from the business to reinvest it in my business in order by the end of the year I will operating with a capital base of more than KSHS 200,000 (USD 2000) of which my predictions are that by next year teh revenue would be more than KSHS 100,000(USD 1,000).
This will enable me expand in my business as well as education support.

Loan Proposal

I plan to buy new bunch of clothing for women and children (under the age of 14 years).
First bunch of clothing which is about 410 pieces will cost USD400. I intend to raise USD 0.44 profit per piece of a clothing. Total profit will be at most approximately USD 180.
My target market is women and children and I intend to help them benefit because it will be fairly affordable. Consequently I will able to develop entrepreneurial skills, to cater for my education at the college that I was admitted as well as be able to take care of my daily needs.
Thank you in advance.

Feedback

1

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Loan Info

Project Type

Classic Loan

Disbursed amount

$100.00

Date disbursed

Feb 23, 2015

Repayment status

On Time

Projected term

3 months

Lenders

P

Philippe

Adliswil, Switzerland

MC

Michael Cyr

Belgrade, Maine, Usa, United States

D

densey

Yakima, United States

L

lucnz

Auckland, New Zealand

A

alexdahl

San Francisco, United States

R

Ricolina

Long Beach, United States

Harley

New York, United States

N

niklas

Schemmerhofen, Germany

A

ashtonburch

Cincinnati, United States

todbookless

Tukwila, United States

D

DRSZ73

Portsmouth, United Kingdom

C

crpwme

Philadelphia, United States

W

worldohana

Honolulu, United States

J

Joshuabryan

Tokyo, Japan

kosmos

athens, Greece

Catherine68

Boyle, Ireland

B

Brendan

Epsom, United Kingdom

L

LisaC

Berlin, Germany

S

smithman234

port hope, Canada

J

JohnSmith

Louisville, United States

ashmetry

Spring, United States

S

Senryu91

caldogno, Italy

A

ataft07

West Fargo, United States

carterunited

Manchester, United States

L

Lender1212

San Francisco, United States

DoctorSnuggles

Lemmer, Netherlands

F

felloweschief

Goleta, United States

B

bucky

Madison, United States

L

livelaughlove

Roseville, United States

F

Firefly

Canberra, Australia

J

jamesdrew

Ontario, Canada

S

Snake707

Somewhere, Germany

M

ms.chico

Hong Kong, Hong Kong

E

EllenA

Oslo, Norway

Paul Buchheit

Mountain View, United States

mepster

San Francisco, Ca, United States

D

dabatate

Saarbrücken, Saarland, Germany

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  • Eric    Feb 15, 2021

    Antony is waiting his credit from a crtain company and is willing to payback soon

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  • Anthony    Feb 7, 2021

    I regquest to reschedule my payment as stated above. When things get normal i shall review upward. Thank you.

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  • Eric    Jan 11, 2021

    Antony promised to payback soon

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  • Anthony    Dec 6, 2020

    I have been unwell, I am writing to request for an adjustment as above for 5 instalments then review.

    Thanks

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  • Eric    Nov 12, 2020

    i called antony and he promised to resume ontime repayments next week.

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  • Anthony    Oct 24, 2020

    Kindly let me pay this high rate when i am comfortable . Thank you

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  • Eric    Oct 12, 2020

    Anthony promised to pay the loan on time after some late payments.

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  • Anthony    Sep 5, 2020

    Would like postpone this amount for the time being and revert to it when i am stable

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  • Anthony    Jul 27, 2020

    May I pay the above amount for the time being

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  • Anthony    Jul 11, 2020

    I'd like to restructure my repayment instalment as aforementioned.
    Thank you.

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  • Anthony    Jun 2, 2020

    I am hopeful that once Covid restrictions are lose, I'll be able to take care of higher instalments. Thank you.

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  • Anthony    Apr 22, 2020

    Hello, due to Covid Pandemic, I seek renegotiate and have the above arrangement for now.
    Thank you.

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  • Anthony    Mar 7, 2020

    Dear Lenders,
    I wish to restructure my payments as above for now.
    Best.

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  • Walter    Feb 20, 2020

    I called Antony today 20/02/2020 and he told that he paid his instalment yesterday i wuold request the team concern to have alook whether he really paid i also advice him to adjust the instalment if required.

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  • Anthony    Jan 11, 2020

    I'm still in financial crises. It will be convenient for me in the meantime to reduce the amount.

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  • Anthony    Nov 30, 2019

    I'll be more comfortable to pay a reduced installment due to financial constraints

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  • Anthony    Oct 21, 2019

    I commit to pay up a higher amount when all is all

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  • Anthony    Sep 19, 2019

    May I propose to reduce the payment to make it comfortable to meet this commitment

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  • Anthony    Aug 12, 2019

    My financial status is still bad, I would wish to pay it at a reduced amount until i get stable. Thank you.

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  • Anthony    Jun 30, 2019

    I have had medical bills to take care of for my close relative, id like to review my payment plant to allow me conveniently settle my loan

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