I am forever grateful to the zidisha team for giving me this opportunity to raise funds to expand my second hand cloth b...
Dick
Homa Bay, Kenya
2% repaid
Entrepreneur
Name
Dick
Member since
January 2014
On-time repayments
271 installments • 0%
About Me
I am in the business second hand clothes the are in high demand because they are more affordable as compared to the new clothes. In this business one has to be savvy with what is current in the street fashion so I go for clothes that are fashionable and sell them at affordable prices.
This business no major risks as it is highly profitable. I restock fortnightly and one bale goes for ksh. 18 000. My daily sales on average is ksh. 6 500 and I sell six days a week which brings my total sales to ksh. 39 000. Other expenses incurred inlude travel and accommodation costs that come to about ksh.6 000. After all the deductions my profits comes to ksh. 15 000. (fortnightly)
I intend to invest the loan money in this business and buy two bales instead of one. I will effortlessly repay the loan from the profits from my business.
My Business
I am a 27 year old Kenyan male, married with one beautiful daughter. I live in a town called Homa Bay in Kenya. I am a marketer by profession. I hold a bachelors degree from Kenyatta University. I have always been passionate about entrepreneurship since my childhood days and this drove me to start my own business. I plough back most of my profits into the business to enable it grow. I plan to open shop in neighboring towns in the near future to try and solve the problem of unemployment among my peers.
Loan Proposal
I intend to use the loan money to purchase new stock for my second hand cloth business. A bale of second hand clothes costs ksh. 18 000.
With the new stock I will not only be able to meet the high demand of my highly esteemed customers but also attract new buyers, this will in turned increase my daily sales hence the profit margins will increase and also help me have an edge over my competitors because with this loan expansion of my second hand cloth business will be effortless.
I hereby take this opportunity to urge lenders to help me purchase a new stock for my business and help me grow my customer base, increase my sales and the profitability of my second hand cloth business. Thank you in advance.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$150.00
Date disbursed
Feb 3, 2014
Repayment status
Late
Projected term
63 months
Lenders
Austin, United States
Ipswich, United Kingdom
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