Inventory for my growing phone business

Francis Thuo

Bamburi, Kenya

48% repaid

Entrepreneur

Name

Francis Thuo

Member since

May 2015

On-time repayments

20 installments  •  10%

About Me

My name is Thuo, a businessman and a father of 1. I was born near the capital city of Kenya - Nairobi and later relocated to Mombasa for work. The area where I was born has a rural set-up but with traces of urban life due to close proximity to Nairobi.
My parents were small scale farmers and they grew food crops as well as coffee which would be sold and get much needed cash to support the family financially.

I used to help them with their daily chores when not in school. I went up to secondary school and after that, decided to move to Mombasa where there were better job opportunities than home. I got a job as an attendant at an electrical shop where I worked for two years and then decided to start my own shop, and this is what I am still doing.

My Business

I run a store where I sell mobile phone accessories. This is a business I started a few years ago after realizing that there was a growing demand for phone items due to rapid acceptance of mobile phone technology across the region. Almost every adult in Kenya own a mobile phone and this provides a huge market for accessories such as batteries, covers, earphones etc.

I normally get my supplies from big store and buy at wholesale price and then retail the items from my shop. I have witnessed growth of my shop over the years and I am glad that the future looks bright. However, the growth is stifled by lack of credit which would help in boosting my inventory.

Loan Proposal

The loan will give me a much needed boost in my endeavor to grow my business. If I get this money, I will spend it to buy the following items

- An assortment of phone batteries at a cost of USD 40
- An assortment of ear phones at a total cost of USD 20
- An assortment of chargers and connector cables at a total cost of USD 25.

This will be a shot in the arm for my business and it will definitely improve my sales volumes and hence accelerate the growth of my fledgling business.

Feedback

None

None

None

Loan Info

Project Type

Classic Loan

Disbursed amount

$100.27

Date disbursed

Jun 17, 2015

Repayment status

Late

Projected term

4 months

Cost to entrepreneur

Service fee: $3.95

Francis opted to pay $24.91 into the Zidisha Members Loan Fund in return for a higher starting credit limit.

Lenders

F

FHult

Stockholm, Sweden

H

hanh352

Homosassa, United States

E

erogers

Vancouver, Canada

A

Andrii

Kiev, Ukraine

J

jonastang

Hong Kong, Hong Kong

D

Dianatalk

Netherlands

A

axienjii

Amsterdam, United Kingdom

M

mevans24

United States

P

plhughes

United States

B

bigMo

United States

S

sarahb

United States

C

ccs36

United States

J

jocor

Germany

I

ident

Horsholm, Denmark

D

dmorley

United States

Kyle Hoback

Jersey City, NJ, United States

R

ross22

United States

K

Kelly729

United States

SK

Sebastian Krohn

Amsterdam, Netherlands

Becky Thompson

Leeds, United Kingdom

Veeti

Helsinki, Finland

AA

Adam Atlas

Montreal, QC, Canada, Canada

Elias

Ulm, Germany

C

cota

United States

JD

Jeff DePree

United States

A

Anni

Finland

YM

Yelka Mikolji

United States

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