Expansion of my clothing and shoe shop

Entrepreneur

About Me

I am a 29-year-old man who was brought up in the village by a single mother and after four exams I couldn't join college due to funding problems. Therefore I decided to start my own business where I capitalized some money I borrowed from my family members. I opened a Mutumba shoe store which did very well. I later opened a clothing store which is running up to date.

My stores have been doing well in recent times and I wish to upgrade again.

My Business

I have completed my academic studies and am currently directing my attention towards my entrepreneurial ventures. Specifically, I manage two shops—one specializing in men's shoes and the other in clothing for all genders. I chose these businesses because the goods are cost-effective to acquire and have a fast turnover. For example, I can procure a pair of shoes for 200 KSH and resell it for 800 KSH, making it a profitable venture.

The success of my business is attributed to sourcing products directly from the main stores at Gikomba, where I carefully select the best items. This ensures that my customers have a limited but high-quality range to choose from. On a good day, I can generate up to 15,000 KSH from selling 15-20 pairs of shoes and an additional 5,000 KSH from the sweater and top business. To diversify my income, I've invested in a motorcycle through Integral Credit Limited, which yields a daily return of 500 KSH. The earnings from these endeavors are vital in covering my bills and rent in Nairobi.

Moreover, the income has supported my educational journey. Beyond personal expenses, I allocate funds to contribute to my mother and sister at home. This holistic approach to my businesses not only allows me to manage personal and educational commitments but also positively impacts the lives of my family members.

Loan Proposal

The money lend to me will be used to expand my shoe business.I intend to move from my local kibanda to a boutique at a strategic place in town.This will give me access to more customers and will give me more space to fill my shop.i intend to buy not only mutumba clothing but also ex UK kinds of clothes for my customers.since I have learnt that my lending will be done in stages,i will repay until I get about 30000 for my project.This will increase my daily profits and will make it easy for me to pay the loan. I intend to employ another person who will help my current worker in running the business so that my classes are not inconvenienced

Feedback

Loan Info

Lenders