Increase stock and variety for sale

Justus Otundo

Kisumu, Kenya

Funds disbursed

$0 to go

100% funded of $360 goal

0

days left

Entrepreneur

Name

Justus Otundo

Member since

May 2016

On-time repayments

82 installments  •  9%

About Me

I was born in Embu County in a farming family back ground ,after my primary/secondary school education, I am now in Kisumu with my family, I have stated a business of designing/making of man/ladies shoes where by it is the dream I am majoring in and grow in it to help my family / community and I also hope to train youths to do the same for their earnings .

My Business

I buy whole sales curios and other artwork to retail at the famous Maasai Market in Kenya. I also deal in designing/making of shoes - maasai beaded sandals. I started in 2013 with an assistance of one of our church deacon in some work. He trained me in it and now I am qualified and on my own. I have a goal of growing in this to accommodating others in need and help my family. I am so far very proud in this business and ready to grow in it, my customers are open to all and not a particular group.
The broad variety of merchandise and customer base in this business allows diverse entrepreneurship and opportunities for fast growth. I am therefore seeking resources to be more competitive and to expand my business.
In a month i make profits of $200 which i use to pay school fees for my children and the rest i reinvest in the business.

Loan Proposal

I will use the loan to increase my stock and also engage artisans to make the merchandise for me instead of buying whole sale. This will increase my profit margin. I realize that this will cost more than Kshs 30,000. The loan will supplement what I have thus enabling advance towards my goal.

The loan will have an impact on my business through increased stock and variety which will increase my profit margin.

With increased profit, the loan will help educate my children thus giving them a strong foundation for socioeconomic development. In addition, the loan will help meet my other basic needs thus improving my livelihood and that of my family.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$360.01

Date disbursed

Aug 5, 2016

Repayment status

Late

Projected term

17 months

Cost to entrepreneur

Service fee: $14.83

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