Loan to stock second hand clothing stall
Nightingale
Kanduyi Area,bungoma Town, Kenya
100% repaid
Entrepreneur
Name
Nightingale
Member since
April 2015
On-time repayments
124 installments • 39%
About Me
I was born in Bungoma and grew up in the same town, a third-born child of the late Nicholas Simiyu and my dear mother Marysella Simiyu, who is now 65 years old and growing stronger every day. I have 8 siblings and one passed away at 26 years due to heart failure. My parents were primarily farmers who grew maize, beans and potatoes, which they sold at the local market in order to raise our fees and maintain the household, including feeding us, which at the time was very expensive. My mother would walk miles to help other women in their farming chores and would save this money to pay our fees. My father likewise spent almost every single day of his life in the farm and did his best to raise money by making charcoal by cutting down trees and cooking them in the dirt (a local practice that is done to produce charcoal). They worked hard and managed to buy land in the outskirts of Bungoma town, and even managed to educate me and my siblings.
I managed to pass my primary and secondary exams and, with a lot of dedication and combined efforts from my parents and my brothers and sisters, I eventually joined University of Mysore in India, where I managed to graduate with 2nd class honors in Bachelor of Science in Chemistry, Botany and Zoology. It was a major milestone in my life and that of our family, as in our community it was rare for a girl to be educated. Most girls got married after high school and did not continue with their education.
After finishing my university education, I did not get any job and decided to start a clothes selling business, which I started off with a loan from my late dad, a loan of $50. I would walk to the Kimilili market, where secondhand clothes imported from Western countries are sold, and I would buy them and resell them in Bungoma town. I have done this clothes selling business while also supplementing my income by helping out post-doctoral students and the like to do their research papers for a small fee. The saddest time of my life was to lose my father, who was diabetic and who believed in me and supported me throughout my education.
My Business
I usually buy men's, women's and children's clothes and shoes from Kimilili market and resell them at Bungomas Kanduyi junction at a profit. I usually buy ladies' shoes at an average price of $2 and resell them at around $3. I buy men's shoes at an average price of $4 per pair and resell them at around $6 per pair. Children's shoes vary in price, and the prices fluctuate with every season. However, I make an average monthly profit of $100 a month. I pay the local council $20 every month for the business licence.
This business helps me pay my rent and feed myself and my one year old baby girl Michelle. I also help my ailing mother, who is living with arthritis but has sacrificed a lot in life for me to be able to achieve what I have managed so far.
Loan Proposal
I will buy a bale of mens and womens clothes at 30$ each and childrens footwear at 20$, i will also buy mens footwear at 50$.
I will make an average profit of 40$ per bale of the mens and womens clothes,while i will make an average profit of 50$ from the men and childrens footwear.
I will reinvest the proceeds i make into expanding the stall and will be able to add a larger variety of items for sale.
I will bank 20% of my profit into a savings account which i have been using to raise money to continue my studies and get my Masters degree.I will also bank 15% of the same into my childs education fund.
I also plan on employing someone to help me with the sales while i look for suppliers of items i can sell.
About Me
I was born in Bungoma and grew up in the same town, a third born child of the late Nicholas Simiyu and my dear mother Marysella Simiyu who is now 65 years old and growing stronger every day.I have 8 siblings and one passed away at 26 years due to heart failure. My parents were primarily farmers who grew maize,beans and potatoes which they sold at the local market in order to raise our fees and maintain the household, including feeding us,which at the time was very expensive.My mother would walk miles to help other women in their farming chores and would save this money to pay our fees.My father likewise spent almost every single day of his life in the farm and did his best to raise money by making charcoal by cutting down trees and cooking them in the dirt (a local practice that is done to produce charcoal). They worked hard and managed to buy land in the outskirts of Bungoma town,even managed to educate me and my siblings.I managed to pass my primary and secondary exams and with a lot of dedication and combined efforts from my parents and my brothers and sisters i eventually joined Mysore university in India where i managed to graduate with 2nd class honors in Bachelor of Science in Chemistry,Botany and Zoology.It was a major milestone in my life and that of our family as in our community it was rare for a girl to be educated.Most girls got married after high school and did not continue with their education. After finishing my university education i did not get any job and decided to start a clothes selling business where i started off with a loan from my late dad, a loan of 50$. I would walk to the Kimilili market where second hand clothes imported from Western countries are sold and i would buy them and resell them in Bungoma town.I have done this clothes selling business while also supplementing my income by helping out post doctoral students and the like to do their research papers for a small fee. The saddest time of my life was to lose my father who was diabetic and who believed in me and supported me throughout my education.
My Business
I usually buy men,women and childrens clothes and shoes from Kimilili market and resell them at Bungomas Kanduyi junction at a profit.I usually buy ladies shoes at an average price of 2$ and resell them at around 3$. I buy mens shoes at an average price of 4$ per pair and resell them at around 6$ per pair. Childrens shoes vary in price and the prices fluctuate with every season.However i make an average monthly profit of 100$ a month.I pay the local council 20$ every month for the business licence every month.This business helps me pay my rent and feed myself and my one year old baby girl Michelle. I also help my ailing mother who is living with arthritis but has sacrificed a lot in life for me to be able to achieve what i have managed so far.
Loan Proposal
I will buy a bale of mens and womens clothes at 30$ each and childrens footwear at 20$, i will also buy mens footwear at 50$.
I will make an average profit of 40$ per bale of the mens and womens clothes,while i will make an average profit of 50$ from the men and childrens footwear.
I will reinvest the proceeds i make into expanding the stall and will be able to add a larger variety of items for sale.
I will bank 20% of my profit into a savings account which i have been using to raise money to continue my studies and get my Masters degree.I will also bank 15% of the same into my childs education fund.
I also plan on employing someone to help me with the sales while i look for suppliers of items i can sell.
Feedback
Positive
None
Neutral
None
Negative
None
Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
May 18, 2015
Repayment status
On Time
Projected term
8 months
Other loans
Lenders
Green Cove Springs, United States
Guildford, United Kingdom
Chicago, United States
Joliet, United States
United States
United States
Ask Nightingale a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.