Entrepreneur
Name
Kenneth
Member since
May 2015
On-time repayments
35 installments • 46%
About Me
It was very difficult growing up because dad left and responsibilities fell on my mum to rais my siblings and I. It got worst when mummy kicked the bucket and I had to provide for my siblings since I was the eldest. As soon as I completed senior high schooling I was employed as a tracher in a primary school. While in junior high school, I used to run errands for a shoe maker and market his slippers on commission basis. There were times I'd help him in the production of the slippers for extra cash and I kept doing that until I could produce the slippers from start to finish on my own. I knew how to work with beads since I was very young because mummy sold them so I added that as a design to the top of the slippers to further beautify and give it extra value. I produced just a few in the beginning for extra cash while still working my job at the school. Jael my eldest daughter won't stop talking about how she wants to market my slippers abroad when she's of age and make our company(currently working with my wife) an international one. I love football and I played a lot while growing up, I still enjoy football more than any other sports but I don't play as often as I used to.
My Business
I produce casual slippers covered with beads. These are usually in high demands because they are very light and easy to carry about. I left my job to produce and market these goods on full time basis (together with my wife) because they are always in demand and more so beacause the youth (15-35yrs)are the target market. These group of people buy more of our products so even though we produce for both the young and old, our focus is more on these group of people. We are able to meet high demands too because the leather and beads needed for production are all available on the local market and are very easy to get too. A slipper usally costs approximately $4.17 to produce and sold for not less than $8.4 With the profits we reinvest into growing the business as well as meeting domestic responsibilities.
Loan Proposal
this loan if succesfull will help in the acquisition of land space for sales stand. in our quest to expand and make more sales, there is the need to acquire a pamanent space where our wares can be on display daily so as to enhance sales and increase our profit margin. if this comes to fruition, our sandals will reach a greater number of people than we are reaching now which mmeans an increase in sales. cost of stand space is $20.00 per month and a potential tenant is required to pay for at least 24months and that will amount to $480.00. profit is expected to rise by at least 10% with the new developments. the stand will also breed confidene in our potential clients in our ability to deliver. we are hoping that by this step, we will recieve orders to produce for groups and instituitions
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Loan Info
Project Type
Classic Loan
Disbursed amount
$175.00
Date disbursed
Aug 3, 2015
Repayment status
Late
Projected term
7 months
Other loans
Lenders
Jake Gibson and Beverly Picardo
San Francisco, United States
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