Entrepreneur
Name
Samson
Member since
December 2014
On-time repayments
144 installments • 40%
About Me
I am 25year old man married with one child.I was born and brought up at Kiandutu Thika.I studied at Gatumaini primary and later joined Thika high school where i cleared in the year 2009 with mean grade of B-.Due to lack of school fees as by the time was an orphan i approached several companies and worked as a casual labourer to save for the fees.In the year 2010 i had saved $115 which i started a shoes business at Thika.The environment of my business is sorrounded by low income earners so i decided to supply second hand shoes which i purchase at 2.22 and sell between $5.55-8.88.This has an avarage revenue of $350 and costs of $202 per month.In the year 2012 i was able to introduce phone accessories and electronics.This has an avarage revenue of $890 and a cost of $555 per month.This has also attracted more buyers from upcountry and sorrounding towns which has boosted my business.My daughter is now 9months and my prayer and dream is to educate her to the best she can attain.My pass time is spent in business seminars,reading and visiting the less privileged in the society.I also take joy in singing in my church choir.
My Business
My business provides 2nd hand shoes,phone accessories and electronics.The 2nd shoes are in high demand as they are cheaper compared to the new ones.The phone accessories are in demand since low income earners prefer repairing their phones or buying cheaper ones which am able to provide due to low cost of rent and cheaper operation cost.Considering change from analog to digital this year digital boxes are highly in demand and other electrical appliances used to connect.My main costs is purchase of inventory since transport and rent are below 10%.I use my profits on reinvestment and home improvement.My plan is to expand the business to a capital base of $10000 and spread to other major towns especially electronics which are in high demand.Afteq a period of three months,i do channel part of my profits towards charity.This goes towards purchasing clothes and foodstuff for street children.
Loan Proposal
let me take this opportunity to thank my lenders for their continued support .The loan comes at such an opportune time both for me and my business. I intend to introduce motorcycle spareparts.motorcycle as a means of ferrying passengers is currently the single largest employer of young people in Kenya.This translates to motorbike purchases in equally large numbers. Given the rough terrain of our roads , the bikes are in constant need for repair and replacement of wearable parts. my shop is strategically located at a road junction hence onvenience and accesible to a good number of customers.I intend to start by selling service parts such as chains , horns, brakeshoes, sidemirrors, tubes, tyres, clutches, sprockets and such.the breakdown for my budget is as follows .
item price in $ total
10 chains $3.5 35
10 horns $1 10
10 b.shoes $1.5 15
10 s.mirrors $0.8 8
10 tubes $2.2 22
3 tyres $16.5 49.5
10 clutch $0.6 6
10 seatcovers $3.3 33
TOTAL $178.5
Feedback
Positive
3
Neutral
None
Negative
None
Loan Info
Project Type
Classic Loan
Disbursed amount
$180.00
Date disbursed
May 17, 2016
Repayment status
On Time
Projected term
7 months
Other loans
Lenders
United States
United States
San Ramon, CA, United States
United States
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