Loan to boost my clothes business

David

Nairobi, Kenya

28% repaid

Follow David

How it Works

Entrepreneur

Name

David

Member since

February 2016

On-time repayments

207 installments • 13%

About Me

My name is David Odera.I was born and brought up in the western region of Kenya, Homabay County, in a family of five, in which I am the first born.My parents are small scale farmers.
I schooled at Nyamanga primary School and Mirogi Boys High school for my secondary education.
I grew up in a not so well off family and in fact I had to do menial jobs during school holidays to help raise my school fees.This gave me the mentality and passion to do things independently,and also have confidence in myself.
At the moment I stay in Nairobi, and pay my own bills.Initially I intended to get employment, and after a few years of trying all the casual labour jobs, a friend of mine who was doing very well in business sold me the idea of investing in second hand cloths.With the money I had from the casual jobs I gave it a try, and 5 years down the line it has been my major source of income.
In my leisure time I love to play football.

My Business

I am basically dealing in second hand clothes.Many people like them because of their quality and affordability.Locally made clothes are usually expensive and out of reach for many slum dwellers.I was motivated in this business by the fact that second hand clothes are always in demand, and are fast moving.Also they fetch fair profits.I usually buy a bale of ladies clothes at a cost of 20,000 (200USD).I pay 2000 (20USD) per months for rent, and 1000 (10USD) to the city council.
My average profits per months is 8000(80USD) With this profit, i use them to pay my bills, support my siblings through school and reinvest the rest.

Loan Proposal

Thank you zidisha for letting welcoming me in your family I am very grateful to you people for the first loan.
I will buy a bale of second hand cloth 20,000(200USD)
This will increase the number of my customers and will also make the people around the business who come for clothes and want cheap and high quality clothes If i get this loan I will increase my profit by 20%.