Stock of jackets for my secondhand clothing business

Saumu

Jomvu, Kenya

22% repaid

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How it Works

Entrepreneur

Name

Saumu

Member since

April 2015

On-time repayments

48 installments • 13%

About Me

My name is Saumu, a resident of Mombasa county in Kenya's coast. I was born and brought up in Mombasa and I went to school for my primary and secondary school. However, due to limited resources of my parents, I could not further my education since I had to give a chance to my younger siblings to get some schooling at least up to secondary level.

I started doing menial jobs after my secondary education and later got married. With the help of my husband, I managed to start a business of selling second clothes and that is what I am still doing. I am a mother of one child but unfortunately or marriage did not work out and we separated about a year ago.

I now have the duty of raising up my kid alone and that I why I work very hard to secure his future.

My Business

As mentioned above, I deal with selling of second hand clothes. I also sell second hand curtains after realizing that there is a high demand for that. I buy my stock in bales from the distributors who get them from the USA and Canada. Second hand clothes business is very common in Kenya because people do not have lots of money to spend on new clothes; besides, the quality of the clothes is superior to other types available locally.

I make a modest profit of about $120 per month after all expenses like rent and transport are paid. I use this money for my daily expenses at home. It is my hope that I will be able to make my business grow even more so that I introduce other products such as shoes so as to increase my profitability.

Loan Proposal

If given this money, I will use to boost my stock of used clothes. I have in mind jackets as we head to the cold season of May - July. This is when most people will buy the jackets to keep themselves warm. 2 dozen jackets will cost me about $75 and this means that this amount will be sufficient for me to get the stock.

I am hoping to make an initial profit of about $25 (from the sale of the jackets) after clearing the stock. This is not much but since I am going to pub back all the profit into the business, it will generate a lot of money in the long run.