Loan to expand my clothing retail business

Samuel

Nairobi City, Kenya

47% repaid

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How it Works

Entrepreneur

Name

Samuel

Member since

September 2014

On-time repayments

146 installments • 28%

About Me

My story
Hi! My name is Samuel. I am 23 years old and a first born in a family of six children. I was born on 3rd November 1990, started schooling in 1998 at MM. Chandaria Primary School and went to St. Teresa’s Boys Secondary School East-Leigh in 2007. After high school, I was lucky to attain the grades that gave me a direct ticket to the public university. I am currently a 3rd year student at JKUAT taking a degree course in Biomechanical and Processing Engineering. I work as a part time teacher at ACREF secondary school. Besides teaching and learning, I run a small clothing business in Juja town. My main objective is to inspire others through the business and to create employment for other young people. I am also a song writer and my hobbies are singing, dancing, doing research and reading novels.

My Business

My business is located in Juja town and deals with retailing second hand clothes. I ventured into this business with a little capital I had lent from a friend. This was back in August last year after realizing that I needed a big deal to make a meaningful stride in my life. Since then, the business has been growing amazingly. It has always received a good response from my fellow students as from some of my customers. The business has helped me a lot with improving my financial status in the college. On a good day I would make a profit of about $ 20. As a result, I have always been able to independently cater for my college needs. I also support one of my sisters with paying her school fees from some of the money I earn from my business. What inspired me to venture into this business was the fact that most of my friends would admire how I dress. This would make some of them send me to the market for identical clothes. I saw this as an opportunity and later transformed it into a business.
However, due to insufficient capital, I often find myself unable to get sufficient goods from the market and thus fail to meet my customers' demand. I therefore plan to expand the venture by increasing the stock of items that are always in high demand, such as rubber shoes, men trench-coats, socks, T-shirts and shorts.

Loan Proposal

I request to be given a loan of at least $ 200. I plan to use the money to expand my clothing retail business. This is by purchasing the frequently asked products at my shop. They include items like ties, official trousers, shirts and official shoes. The budget is as follows: ties at $ 20, official shoes at$ 80, shirts at $ 40 and official shoes at $ 60. The total budget amounts to $ 200. The income I earn from the business and my part time job salary will help me in repaying the loan. I will appreciate a lot for any assistance. Thanks in advance.

Show original English

About Me

My story
Hi! My name is Samuel. I am 24 years old and a first born in a family of six children. I was born on 3rd November 1990 and started schooling in 1998 at MM. Chandaria Primary School and went to St. Teresa’s Boys Secondary School East-Leigh in the year 2007. After the high school, I was lucky to attain the grades that gave me a direct ticket to the public university. I am currently a 4th year student at JKUAT taking a degree course in Biomechanical and Processing Engineering. I work as a part time teacher at ACREF secondary school. Besides teaching and learning, I operate a small clothing business in Juja town. My main objective is to inspire others through the business and to create employment to other young people. I am also a song writer. My hobbies are singing, dancing, doing research and reading novels.

My Business

My business is located in Juja town. The business deals with the retailing of the used clothes. I ventured into this business with a little capital I had lent from a friend. This was back in August 2013 after realizing that I needed a big deal to make a meaningful stride in my life. Since then, the business has been growing amazingly. It has always received a good response from my fellow students as some of my customers. The business has helped a lot in improving my financial status in the college. In a good day I would make a profit of about $ 20. As a result, I have always been able to independently cater for my college needs. I also do support one of my sisters in paying her school fee from some of the money I earn from the business. What inspired me to venture into this business was the fact that most of my friends would admire how i dress. This would make some of them send me to the market for the identical clothes. I saw this as an opportunity and later transformed it into a business.
But due to insufficient capital, I often find myself unable to get sufficient goods from the market and thus failing to meet the demands of my customers. I therefore plan to expand the venture by increasing the stock of the items that are always in high demand by my customers. The demand for items like ties, official shoes, shirts and official trousers has been high among my customers. It has been a great challenge for me to raise the capital to purchase those items. I always feel bad when my customers go disappointed simply because they dint get a product they expected to get at my shop. That is why I am writing a loan proposal to the zidisha lenders.