Sammy
Nakurutown Pipe Line Area Machine Village Near Pc, Kenya
100% repaid
Entrepreneur
Name
Sammy
Member since
November 2012
On-time repayments
75 installments • 21%
About Me
Am a Christian, I attend Presbyterian churches of Kenya which located 500metres from where I live. Am a single man but engaged to a lady working as an accountant in Total petrol station .Am an employee at Shiner’s Girls High School I work as Business studies/Computer studies teacher, for the last three years. Am A-level student (languages and economics) and a bachelors holder, from Makerere university, where I pursued bachelor of Commerce specialized in Accounting am also pursuing a higher diploma in strategic management. Immediately after the university I worked as sales man in curio shop in Entebbe Kampala. Due to the poor saving in our culture I initiated a table banking group in my area which we registered with the ministry of gender. We had a common problem that is low income leading to low savings. This denied as an opportunity to establish small business. The group has not been successful due to the high lending interest charge by the financial institution but thanks to Zidisha. I also teach evening classes in my village three days in a week. Apart from teaching I operate a boutique shop in molo town where I sell gent and ladies clothes.
My Business
Last year I borrowed a loan from Teachers SACCO based in Shiner’s Girls School based in Nakuru which I established a boutique shop. Molo is a big town located in Nakuru County with a wider market due to the dense population. There is an effective demand due to the large number of population in the area and also the many or wider varieties of clothes I sell. I do my purchases from Kampala Uganda which provides me with a very wider variety of clothes, also in Kampala clothes are also cheaper compared to Kenyan prices, this enables me to sell my products at a fair prices compared to my competitors, this is why My customers prefer my business to my competitors due to the fair prices and quality products I sell. Currently I face minimal or no risks in my business due to the kinds of clothes I sell, ladies clothes for the young girls move very first and also the ability to sell the most current fashion . I incur month expenses of kshs 15,000 i.e labour force (I have employed two young men to sell the clothes), rent, electricity and transport costs, cost of purchases of kshs 60,000 and monthly sales volume of kshs. 120,000, and monthly profits of approximately kshs 40,000. The sales volume could be high if I can be able to get additional capital to expand my business. Much of the profits I get I plough it back to expand the business. I have been able to purchase a piece of land in machine. I intend to rent a larger room and stock it with ladies shoes an school uniforms which are been demanded by my customers using the fund am borrowing
Loan Proposal
I have an already clothes shop in operation. i will use the loan as an additional capital to purchase stock that is school uniforms. uniforms and school shoes always have a very high demand because parents will be taking their children to join form one and also to replace the worn out uniforms and shoes.end of December is always the peak seasons for our business. also where my business is located i do not face a stiff competition so i will be able to fill the market gap.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$295.00
Date disbursed
Dec 23, 2012
Repayment status
On Time
Projected term
12 months
Other loans
Lenders
Osaka, Japan
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