Inventory of used shoe to re-sell

Samuel

Mombasa, Kenya

100% repaid

Entrepreneur

Name

Samuel

Member since

January 2015

On-time repayments

250 installments  •  49%

About Me

My name is Samuel Kangethe, a father of two children – a boy aged 13 years and a girl aged 9 years. I live with them and my wife in Mombasa city. I was born to peasant farmers in Central region of Kenya 44 years ago.

I went to school up to secondary level and later joined a mechanical engineering college where I trained as an auto-motive technician. I tried my hand as a mechanic but later lost interest in the job and got employed as a public bus driver. I did this job for five years, where I faced a lot of difficulties like police harassment. This made me quit and I relocated to Mombasa to search for greener pastures.

I opened a music shop and later decided to sell used clothes in the same premises so as to supplement my income. This is what I do to date and I make enough profit to support my family and my parents back home.

My Business

I source my music from music producers, artistes and local agents. The business is profitable since Mombasa is a big town with a high population which ensures that there is a constant demand for music especially from the youths. I make a profit of about $300 from this venture.

I get clothes for my shop from local dealers and then I retail them. Just like the music business, there is a constant demand for clothes due to the high population and the friendly cost of my products. I do it on a small scale and I make a profit of about $150 from this department.

My main reason for asking for this loan is to strengthen the used clothes section which will see an increase of sales hence improved profits.

Loan Proposal

I have been selling used clothes for a couple of years now and I now want to diversify to selling shoes as well. This is to enable me serve my clients under one roof. I am hoping that this venture will be a success since I have a clientele base due to my other clothes selling business.

Hopefully, this will increase my income and give my family a better life. I plan to start this new venture as soon as I get the money. Thank you.

Feedback

None

None

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Loan Info

Project Type

Classic Loan

Disbursed amount

$120.00

Date disbursed

Oct 4, 2016

Repayment status

On Time

Projected term

10 months

Lenders

T

Tallago3

Munich, Germany

Matching Fund

Sterling, United States

Paul Buchheit

Mountain View, United States

Haim Si

Mexico, Mexico

E

erica

antwerpen, Belgium

PG

Paul Graham

United States

Rosario von Li

San Jose, Ca, United States

SM

Sachet Marion

United States

Craig Newmark

United States

The Zinc Team

San Francisco, United States

Humble Bundle Community

San Francisco, United States

A

Anonymous

United States

A

Anonymous

United States

A

Anonymous

United States

Paul Buchheit

Mountain View, United States

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  • Samuel    Nov 4, 2017

    Thank you very much for giving me this loan. I will use it to buy the clothes to sell during this peak season.

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  • Samuel    Oct 21, 2017

    I bought some more clothes that I have been selling and business is doing well. Thank you.

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  • Samuel    May 20, 2017

    Thanks for the loan. I will use it to buy a stock of warm clothes. This will propel my business forward.

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  • Samuel    May 9, 2017

    My business is doing well. I can attribute the good performance to Zidisha's friendly and timely loans. Thank you so much.

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  • Samuel    Oct 10, 2016

    Thank lenders, I received the money last week and bought the stock that I needed. God Bless you all.

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  • Samuel    Oct 5, 2016

    Thank you once more my lenders. I received the money yesterday and now ready to buy a stock of shoes.

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  • Samuel    Oct 2, 2016

    Thank you my many lenders for funding this loan. The money will go a long way in elevating my business to a higher level.

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  • Samuel    Sep 28, 2016

    Thank you lenders for the loan that I have just cleared. I used the money to buy more stock and this has increased my sales. Thank you so much.

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  • Samuel    Mar 1, 2016

    Thank you lenders for the facility. I was able to boost my business by buying additional stock.

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  • Samuel    Sep 8, 2015

    Dear lenders, this is to confirm that I received 11,843 KES last week. I used the money to buy a bale of second hand clothes. The response from my customers is good so far and I hope to build on this momentum to make the business grow even further. Thank you so much.

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  • Samuel    Aug 29, 2015

    Thank you very much lenders for your valuable support. I am glad you have funded me once more and this money will enable me add my stock of second hand clothes. I pray for your long life so that you continue helping other entrepreneurs around the world.

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  • Samuel    Aug 19, 2015

    Dear lenders, I am glad that i have cleared the loan that you gave me a while back in-spite of some difficulties. I had a sick relative who depends on me and hence my reason for delaying payment at some point. I only came to learn about rescheduling when the damage was already done!

    However, all is well that ends well and I have cleared my loan and my patient has now recovered fully. Thank you for your understanding.

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  • Samuel    Jul 24, 2015

    Kindly let me reduce my repayment slightly because the business is down a bit. I am about to clear my loan and I need this relief.

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  • Ndungu    Jun 21, 2015

    Dear lenders, I spoke to Samuel yesterday and he told me that he has been taking care of his ailing relative and he spent a lot money on his medication. His patient is now better and he will resume repaying his loan as from next week. Thank you for your patience.

    V.M.

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  • Samuel    Mar 16, 2015

    Dear lenders, only one day left for my loan bid to expire. Kindly fund my second loan since it will be a big boost to my business. I want to build on the momentum that the first loan started so that I achieve my goal of financial freedom.

    I am determined to keep my repayment record at 100%.

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  • Samuel    Mar 4, 2015

    I got my first Zidisha loan during the festive season when people spend a lot on 'new' clothes. I moved very fast and bought very nice shirts and blouses which I was able to sell at a tidy profit. This is reflected on my swift repayment of this loan and I hope the I will be equally successful on the second one which I am about to apply.

    Thank you lenders for your valuable support.

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