,more stock for my bags business

Samuel Karanja

Kajiado, Kenya

100% repaid

Entrepreneur

Name

Samuel Karanja

Member since

November 2018

On-time repayments

5 installments  •  80%

About Me

Hi, I'm Samuel living in Ongata Rongai town which is in Kajiado county, in the outskirts of Nairobi, Kenya. I run a business of retailing second hand assorted bags at my shop in Ongata Rongai town.

My Business

I run a shop merchandising assortment of second hand bags. I started the business five years ago and i want to take it to the next level. I have stumbled on an opportunity to buy out a struggling business and convert it as my store so as to expand my business.

I need US $ 500 to pay for the goodwill and do renovations. The breakdown is as follows

I'll use US $ 300 to pay rent arrears for the said shop.

Pay US $ 100 as transaction fee for change of ownership.

Use US $ 100 to renovate the premises.

In total I'm requesting Zidisha team for a loan of US $ 500.

Looking forward for your assistance.

Loan Proposal

I'm in the business of selling imported second hand school bags, handbags, backpacks, travelling bags etc and i intend to use this loan to increase more stock in my already existing business. A bale of mixed bags would cost about US$ 500. It would take maybe one month to sell it and make about US $ 700 hence making about US $ 200. Less overheads of about US $ 10 so i take home about US $ 10. Kenya being a developing country, there are majority of citizens barely survive so affordable goods is a priority. Majority of my customers will buy school bags for their children and for themselves.

Feedback

1

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Loan Info

Project Type

Classic Loan

Disbursed amount

$1.00

Date disbursed

Nov 15, 2018

Repayment status

On Time

Projected term

3 weeks

Lenders

Paul Buchheit

Mountain View, United States

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  • Jan Klemming McDonald    Mar 26, 2019

    Samuel - What has happened with your plans?

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  • Jan Klemming McDonald    Feb 18, 2019

    Samuel
    I hope it is going well with your store!

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  • Samuel Karanja    Jan 25, 2019

    Hi, Wish to thank Zidisha team for your support. Will definitely keep you updated and look forward to working closely with you for a long time.

    Regards,

    Samuel

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  • Jan Klemming McDonald    Jan 24, 2019

    Good Luck with your expansion!

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  • Margaret    Jan 24, 2019

    Good Luck Samuel with your new business plan.

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  • Samuel Karanja    Jan 20, 2019

    Hi, I added more stock with the funds i received from the loan i got last time. I thank Zidisha team for their support. This time round I've stumbled on an opportunity to buy out a struggling business next to mine at a cost of US $ 500. I intend to acquire the business and convert it to a store for my merchandise. I've broken down the cost as follows

    Rent arreas for the shop at US $ 300
    Transaction fee for change of ownership at US $100
    Rennovations at US $ 100
    Total US $ 500
    This will help my business to grow.

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  • Samuel Karanja    Dec 25, 2018

    Hi Zidisha team.
    Wishing you all a merry Christmas, happy festive season and a prosperous new year! Thank you once again for supporting our entrepreneurship initiatives.

    Regards,
    Samuel

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  • Samuel Karanja    Dec 9, 2018

    Thank you for the support. Will use the funds advanced to me to increase stock in my business.
    God bless you.

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  • Margaret    Dec 1, 2018

    Good luck with your new loan!

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    • Samuel Karanja    Dec 3, 2018

      Thanks a lot. I wish to thank the entire Zidisha team for this noble project. It's a noble initiative of empowering middle level entrepreneurs. By helping us grow our businesses, we also create job opportunities for others. I currently employ one staff.

      Regards,
      Samuel

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  • J    Dec 1, 2018

    Dear Samuel

    During your next loan request, please post a photo of yourself at the top of your profile. (This is a Zidisha requirement).

    The photo needs to clearly show your entire face, preferably smiling, and preferably taken at the location of the project for which you are requesting a loan.

    The photo currently in that top spot, you can move to a lower spot on your Discussion page, along with a comment about it for your lenders.

    Kind regards,
    Joost
    Team Zidisha

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  • Samuel Karanja    Nov 30, 2018

    From the loan i got, i added stock and i intend to reinvest the proceedings back in the business.

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