Inventory of shoes and clothes for fashonomics shop

Kelvin

Nairobi, Kenya

100% repaid

Entrepreneur

Name

Kelvin

Member since

January 2015

On-time repayments

168 installments  •  60%

About Me

Being brought up in a family of four children where i was the last born life was not always rosy when I was small. I schooled in a local primary school in my village area but was lucky to get a scholarship for my high school education. After high school i git good grades which enabled me be government sponsored in a public university. Life in campus was hard and i made a decision to look for work to supplement my needs but all in all i never got a good paying job so i started small businesses.
I would buy electronics such as laptops and phones from students and resell them at a profit. This business continued for my first three years of campus until one day when i met a close friend whom introduced me to selling shoes and clothes he linked me up with an importer of new shoes as well as clothes and i became a main seller to fellow students in campus.
I just graduated last year December and I have already laid down strategies of how to continue with this business since its already paying.

My Business

In my business i do sell new imported shoes from china both for men and ladies. i also sell fashionable dresses which are imported and also jeans. All these products have high demand especially by the young generation who represent a majority of our country's population.
Being in the business while still a students I have passed through hardships and challenges and have learn t a lot along the way. The main reason for wanting to continue this business is because The business is able to provide for me and also if I am able to increase its volume i will be in a position to grow to greater levels.
In this business the main costs that I incur includes purchase of stock, payment of government licenses as well as advertising cost, the revenue mainly is from sales of the stock that I have.
The profits that I get from the business i use to reinvest into the business by adding on stock to be able to expand. I also use part of it for my upkeep as i now depend on the business for my living.

Loan Proposal

When I get this loan am going to use it to acquire new stock for my business. My supplier has recently brought a variety of new shoes as well as new clothes designs and having this stock while its still fresh without many people stocking it will give me an upper hard over my competitors.
In our country people have culture of purchasing unique things that others don't have so with this cash i will be able to have new unique stock and this will increase my customer base thus also increasing my profit.
With this amount i will be able to increase my profits to around $50-$100 monthly hence it will be easier for me to meet my weekly payment and still be in a position to support my business.

Feedback

3

None

None



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Loan Info

Project Type

Classic Loan

Disbursed amount

$100.00

Date disbursed

Feb 5, 2015

Repayment status

On Time

Projected term

6 weeks

Lenders

jan73

Eugene, United States

Scangaid

Pittsburgh, United States

DF

Dennis Furr

United Kingdom

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  • Mwongeli    Dec 2, 2018

    Kelvin no longer picks my calls. I'm trying to reach him through reference contact he provided and will post an update once I talk to him

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  • Mwongeli    Sep 28, 2018

    Kelvin got some financial problems which he's sorting bout and will resume repayment soon

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  • Mwongeli    Aug 28, 2018

    Kelvin will start payment of the loan soon.

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  • Kelvin    Jun 25, 2018

    Hello Lenders,I will buy khaki trousers for reselling. Thank you for funding my loan.

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  • Kelvin    Jun 4, 2018

    Hi Lenders .I have repaid fully my loan of 38,664KES .The loan has really improved my business thanks all for this great opportunity.

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  • Kelvin    Mar 16, 2018

    Hi Lenders.Trust your all fine.my business was affected by the political situation in Kenya last year that`s why I had challenges with repayment,This year from this month business has picked up and am intending to complete repaying my loan end of next month.

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  • Judith    Oct 2, 2017

    Hello Lenders,
    I spoke with Kelvin and he said by 6th October 2017 he will have paid the arrears.

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  • Judith    Apr 27, 2017

    Hello lenders,

    Just spoke with Kelvin and he said he will repay the arrears by Saturday 29th April. He said business has not been good that is why he delayed in repaying.

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  • Judith    Nov 24, 2016

    Hello Lenders,

    I have just spoken with Kelvin and he said he will pay his arrears on 28th Nov, 2016 which will be on a Monday.

    Thank you

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  • Kelvin    Sep 21, 2016

    Hi lenders am currently going through some financial challenges which have really affected my repayment ,my business is not currently performing well since I relocated to new premises .I promise to pay a higher installment once the business picks.Thanks

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  • Judith    Sep 6, 2016

    Kelvin said he will pay the arrears on Saturday 10th Sept.

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  • Judith    Jul 8, 2016

    Hello lenders,
    Kelvin said he wil pay the arrears tomorrow saturday 9th July 2016

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  • Judith    Mar 7, 2016

    Hello Lenders,

    Kelvin will py the arrears overdue by tommorrow 8th March 2016.

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  • Kelvin    Feb 19, 2016

    Hi Lenders I would like to adjust my repayment amount because currently my business is not doing well its affected by the financial crisis affecting our country this has made the number of sales to go down.I believe with time business will pick up and I will pay a higher amount per week.Thank you lenders for your continued support

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  • Judith    Jan 29, 2016

    Hello Lenders,

    I called Kelvin and he said he will pay the arrears tomorrow 30th January 2016. I will follow up.

    Regards

    Judith -VM

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  • Judith    Oct 23, 2015

    Hello Lenders,

    I called Kelvin and he said he will pay to day for the two weeks he has not paid. He had some issues that's why he had not paid.

    Regards

    Judith - volunteer Mentor

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  • Kelvin    Sep 21, 2015

    Hi Lenders I received KES 36,823 money you loaned me.I will use the money to buy new stock for my business.Thanks all lenders for believing on me and my business I appreciate.God bless

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  • Kelvin    Sep 21, 2015

    Hi Lenders I received KES 36,823 money you loaned me.I will use the money to buy new stock for my business.Thanks all lenders for believing on me and my business I appreciate.God bless

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  • Kelvin    Sep 21, 2015

    Hi Lenders I received KES 36,823 loan amount you loaned me.I will use the loan to buy new stock for my business.Thanks all lenders for believing on me and my business .God bless

    Log in to reply • Share
  • Kelvin    Sep 21, 2015

    Hi Lenders I received KES 36,823 loan amount you loaned me.I will use the loan to buy new stock for my business.Thanks all lenders for believing on me and my business .God bless

    Log in to reply • Share


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