205 weekly installments • 20%
My name is Ivy Wanjiku Wanja, born of a single mother 21 years ago. I was brought up in Mombasa town and went for my primary and secondary school in the same area. I did my secondary school exam in 2012 and later joined Kenya Institute of Management where I did a certificate course in computer applications. I am now looking for a job, but due to scarcity of job opportunities, I decided to start a business of selling second hand clothes.
I occasionally do promotional work on part-time basis at supermarkets and malls where I market branded products mostly from multinational companies.
I deal with selling of second hand clothes. I started this business late last year just after clearing my college education.
This was made possible by my mother who gave me the initial capital to start off the business. However, the funding was not adequate and my business has not grown to the level that I wanted it to grow.
I normally source my used clothes from local markets and I target office workers who are my main clients. Through Zidisha loans, I recently started supplying uniforms to various schools with much success. I intend to build on this momentum to grow my business even further.
I am very excited about a possibility of getting credit from Zidisha because I have tried from other lending institutions without success.
I believe success begets success. My first loan with Zidisha is a real success story as I had indicated earlier. It has made me have confidence in myself and it is real new brave world for me. I have never been so optimistic in my business and I now want to upgrade my business and open a school uniform section.
I have spoken to a number of schools suggesting that once I start they will be referring their pupils to my shop. The response so far has been very positive and if given more funding I will start this project straight away. I have also made contact with a number of suppliers and they are all willing to do business with me. My excitement is palpable.
I have targeted three schools in this venture. One full set of school uniform made up of skirt, blouse, sweater and ‘T shirt’ will cost me about @15 and then I sell at @19.5. With this loan and a bit of my savings, I am planning to buy 50 sets of uniform at a cost of about $550 (I am hoping to get a small discount). With this investment, I am hoping to reap anything between $180 and $220 within three months hence my excitement.
This is a dream that I believe you help me realize through your funding.
Sep 1, 2014
Cost to entrepreneur
Lender interest: $474.65 at 6.92% annual rate over 7 months = $19.58
Service fee: $474.65 at 5% annual rate over 7 months = $14.15