Increase stock of my shoe business
Shimron
Changamwe Village In Mombasa, Kenya
100% repaid
Entrepreneur
Name
Shimron
Member since
August 2014
On-time repayments
120 installments • 28%
About Me
I was born In Taita Taveta County in 1987. I was brought up in the same county and joined a local primary school known as Werugha Primary School. After my standard eight exams, I joined Shimbo Secondary school where I studied till form four.
After my O-level exams I moved to Mombasa County to look for a college at the same time to try and get employment. I was not very lucky as jobs were not coming by. This is when I decided to try my hand in business. I started selling second hand shoes at the same time attending a clearing and forwarding course. I also took driving lessons and got myself a driving license.
I come from community where people are so loving, and embrace Christianity. That is from Taita Hills where the climate is so good and habitable. You visit once and you would like to be there many more times.
I came to start a business when I realized that the jobs were scarce and time was passing by so I thought I could do something to earn a living as I looked for a job.
Ever since I started selling the shoes I realized that I could actually run my own business and lead a decent life.
My Business
My business deals with the selling of second hand shoes. I settled on this business because it did not require a lot of capital to start. I got a small loan from my dad and bought a few shoes from Kongowea market, The main local market in Mombasa County.
I carry out my business Magongo area of Mombasa County. Second hand shoes are in great demand since they are cheap and in majority of cases they last longer than most new ones. In short they are very durable.
My costs and revenue vary according to the time of the year. Like in December the sales are higher since this is a festive season and people tend to do more shoping for themselves or loved ones. I make between 20,000 and 30.000 Kenya Shillings depending on the season. With more input I believe my revenues will soar and the future of my business can be more promising.
I don’t have a family yet and the profits I get cater for my upkeep and the rest I put back into my business.
Loan Proposal
I will buy used shoes from kongowea market and add to my exiisting stock.
I will use Us dollars 28 to buy mens shoes and the rest Us dollars 22 to buy childrens shoes.
The above distribution will be equivalent to the amount i have applied for.
The increase of these shoes will my clients more choices to pick from.
Automatically my profits will go up due to the increase of the shoes and sales volume which will go up
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Loan Info
Project Type
Classic Loan
Disbursed amount
$49.00
Date disbursed
Apr 6, 2015
Repayment status
On Time
Projected term
5 months
Other loans
Lenders
Tromso, Norway, Norway
United States
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