Add clothing sales to my shop

Francis

Nairobi, Uthiru, Kiuru 87., Kenya

100% repaid

Entrepreneur

Name

Francis

Member since

August 2014

On-time repayments

68 installments  •  85%

About Me

I was born in Central province, but grew up in Rift Valley in a duty town called Gilgil. When growing up, grazing my parents' cows, goats and sheep was the order of the day as long as it was not a school day. Grazing was being subsituted with going to the farm where we used to grow maize, beans, potatoes and peas. My father used to run a retail shop and occasionally he would let my brothers and I run it. The greatest hardship I went through was lack of school fees especially after I joined high school. But I used to sneak back to school to study even after being chased away by the headmaster due to lack of fees. This gave me a determination that I must work hard at all the time and ensure my children don't go through such a difficult life. Being exposed to running my dad's shop gave me the urge to start mine. And I am glad I am running a shop today outside my formal employment. My eldest daughter who is 11 years old wants to be a doctor when she grows up. My son who is 4 years old wants to become a pilot. The last born daughter is 6 years. My hobby actually is reading materials related to running a business.

My Business

My business goes by the name Bag & Bags. The business sells new and second hand bags and clothes. It is located along Kiambu Road.
The objective is to be a one stop shop for busy shoppers who want to look good but at an affordable price. The designer bags are meant to make sure customer gets enough space to put his or her stuff but at an affordable price. This calls for stocking of smart products especially for the common Kenyans citizen who either has no time or enough cash to purchase items from the big supermarkets in shopping malls.
I ensure the customers get the items they need at affordable prices, best quality and quantities that match their pockets. Since its establishment 4 years now , the shop has attracted a huge number of customers and this is on an upward trajectory.
My plan is to expand it even further and introduce new products/items which presently are not on the shelves. But stocking of the products is primarily demand driven. After being funded by Zidisha, I introduced M-Pesa services (Mobile money service) which is doing very well. The shop is also now well branded. But with increasing sales, I have come to learn I need to buy more things to serve customers better. I need to expand the variety of products I sell. I need to stock items which customers have been asking for yet I don't have.

Loan Proposal

I intend to use the loan to introduce new clothes for selling at the shop. Being a general shop, the shop has sections for various products. If I get this money, I will go to the whole sellers of new clothes and purchase for reselling. This will include baby clothes, dresses, lady tops, male and female jackets and shoes. This will attract more customers and boost my sales.

Income Source

Though many businesses are not operating due to Covid 19, my shop is still running. This is because it does not fall under the category of businesses the government of Kenya ordered closed, e.g bars and restaurants. Though business has not been as robust as before, I have never shut even a single day because of Covid 19. I will squeeze myself to ensure that the little profit I get, I will prioritize the repayment of the loan.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$492.00

Date disbursed

Jun 15, 2020

Repayment status

On Time

Projected term

2 months

Lenders

investor

Candiac, Canada

cyrus0302

San Francisco, United States

O

Oliver

Geneva, Switzerland

DeanDropshot

Oslo, Norway

F

Forba

Mo i Rana, Norway

L

ldron7

Utah, United States

C

cjmenchaca

Austin, United States

BJ

Brandon Joz

North Carolina, United States

J

jdhowa2

Louisville, KY, United States

JimVandegriff

Trinidad, California, United States

ElWal

Kirn, Germany

G

glomardor

Leonardtown, United States

Cloudways

Malta, Malta

ads68

Melbourne, Australia

P

Peksa

Espoo, Finland

fairspirit

Utrecht, Netherlands

Bobrm2k3

Charleston, United States

BF

Bob Fitzjohn

Fontvielle, Monaco, Yemen

W

WenShiDi

mobile, China

A

AndrewC

London, United Kingdom

F

Forfex

Zurich, Switzerland

T

ThereIsNoGod

Singapore, Singapore

soniad

Dubai, United Arab Emirates

Evan Lamos

Brussels, Belgium

D

dcb1987

Chicago, United States

sderickson

Berkeley, CA, United States

O

oonbug

United States

E

elhh82

Petaling Jaya, Malaysia

H

HoseB

San Francisco, United States

J

jenmcintyre

United States

chriseyre

Fremont, Ca, United States

Grant Xavier Storer

Seattle, Wa, United States

dpollard

United States

M

M.Umar

Pakistan

Mike and Jacqui

United Kingdom

S

Stephan

Netherlands

Jeroen Decock

Gent, Belgium

Dave Bogard

New York, United States

Jonathan Ely

Aldershot, United Kingdom

Ren

Minneapolis/StPaul, United States

Vratik Krocik

Prague, Czech Republic

Christine

Munich, Germany

M

Maria

Germany

Maria Lawler

United States

Ronald

Perth, Australia

A

Anonymous

Netherlands

M

Mirko

Yugoslavia

N

Neil

United States

E

Ed

Colombia

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Summary

Amount repaid

$492.71

Amount remaining

$0.00

Date repaid

Aug 22, 2020

Status

Fully repaid

Repayment History

Expected Payments Actual Payments
Jun 27, 2020 $55.18 Jun 25, 2020 $55.18
Jul 4, 2020 $55.18 Jun 25, 2020 $3.94
Jul 5, 2020 $51.24
Jul 11, 2020 $55.18 Jul 5, 2020 $7.88
Jul 13, 2020 $47.30
Jul 18, 2020 $55.18 Jul 13, 2020 $1.97
Jul 16, 2020 $53.21
Jul 25, 2020 $55.18 Jul 16, 2020 $5.91
Jul 27, 2020 $49.27
Aug 1, 2020 $55.18 Aug 2, 2020 $55.18
Aug 8, 2020 $55.18 Aug 10, 2020 $55.18
Aug 15, 2020 $55.18 Aug 13, 2020 $55.18
Aug 22, 2020 $51.24 Aug 13, 2020 $3.94
Aug 22, 2020 $47.30

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