More books for my my bookshop

Stephen Kimani

Mombasa, Kenya

100% repaid

Entrepreneur

Name

Stephen Kimani

Member since

February 2015

On-time repayments

326 installments  •  77%

About Me

My name is Stephen Kimani, but my friends call me Steve. I was born in Kiambu County in the central highlands of Kenya twenty three years ago. I was born in a farming community where most people are involved in food farming as well as livestock keeping. My parents are such farmers and I spent my childhood years in our farm helping them in their farming activities.

I went for primary school and later joined secondary school for my basic education. I did a course in electronics maintenance later and I am a qualified technician in mobile phone repair. However, I did not pursue that career because the I found the work too demanding and with very low income.

It is then that I decided to relocate to Mombasa town to live with a relative who had a business of selling motor vehicle spare parts. I worked for him for two years as a shop attendant and then decided to start my own business of selling second hand books. This is what I am still doing to date.

My Business

I deal with selling of second hand school books. I normally get the old books from parents whose children graduate to the next classes. This is a common practice in Kenya where old books are passed on to those who are in lower classes instead of buying new books which are more expensive.

I also sell new books when I run out old books stocks but this is very rare. The business is quite profitable since my profit margin is about 40%. The main challenge of this business is that it is seasonal and it normally peaks when a new school term begins usually in the months of January, May and September.

My business gives me a net income of about $200 per month. I spend this money to buy more stock and for my upkeep.
I run my business from a roadside structure but my dream is to have a secure store where the books will be safe from thieves and the elements.

Loan Proposal

I will use 1/4 of the total money to add more book stock in my business. The other 3/4 i will use it in leasing another store and buying more books to help me reaching more customers and also employ someone else. Having the two shops, it will help increase my earnings and someone else in earning his/her living. I'm hoping to make more than half of the loan as profit withing a period of one year.

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Loan Info

Project Type

Classic Loan

Disbursed amount

$1,093.82

Date disbursed

Nov 16, 2017

Repayment status

On Time

Projected term

21 months

Cost to entrepreneur

Service fee: $48.45

Lenders

PG

Paul Graham

United States

Humble Bundle Community

San Francisco, United States

R

RMIM

United States

Paul Buchheit

Mountain View, United States

Katja

Switzerland

A

Anonymous

United States

CN

Craig Newmark

United States

A

Anonymous

United States

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