My ultimate second-hand clothing sales project

Entrepreneur

About Me

My name is Bernard Kipkech Kimatoi. I am 33 years old, married with 2 children, a boy Alvin Kibor Kipkech, 5 years and in he is going to class 1 and a girl, Annabel Jepkorir Kipkech who is 4 yeas old and going to nursery. I am the first born in a family of 7 children, four boys and 3 girls. My parents are peasant farmers with very little resources.
I come from Eldoret but I live and work in Nairobi as a freelance insurance sales executive paid on commission. I have a second hand clothes business in Eldoret and another on in Kabarnet. Eldoret is very well famous due to its many athletic sportsmen and women who have conquered many races all over the world. It is a busy town with all manner of business activities taking place. It is also a farming region specializing in dairy, wheat and maize farming. There is a huge ready market for both fast moving goods and clothes industry due to its many economic activities.
I have a diploma in Information Technology and some hands-on training in insurance sector. I have proceeded on with my education due to the heavy weight sponsoring my siblings who are still schooling. I decided to enter into the foray of business so that it can assist me to pay school fees for them and also to enable me provide for my little children with the basic needs.
I love doing charitable activities in my area. This includes helping the needy and assisting in community cleanup exercises. I do also visit the sick and the less fortunate in my society.

My Business

As indicated above, I do second-hand clothes business. The day-to-day operations of the business is run by my wife. She is the one who opens the shop daily, reconciles on both sale and expenses and sends me the report on how much we have made during the day. Because I am based in Nairobi, I assist her in the purchase of most of the clothes from the dealers and organize for the transportation. Our business operations is very efficient as we communicate via Whatsapp and Facebook. The demand for second hand clothes is very high especially this season. One bale of Second-hand clothes cost around Kes. 16,000 (approx... US $ 200) and this can fetch around Kes. 24,000 (approx… US $ 300) with profits of around Kes. 8, 000 (approx....US $ 100). Due to the may financial challenges that we are currently facing, I discussed with my wife and agreed that we should seek a lender to finance part of the stock for our business. As I was searching in the internet, I stumbled upon Zidisha and the many successful stories made me to go further and research on what you do. I was completely convinced and I took the challenge to apply. I was very lucky to have been enrolled as a member. I now seek your assistance for a business loan to expand my business and be able to also assist other youth to have employment and desist from unmeaningful activities.

Loan Proposal

Currently I have some savings amounting to Kes. 12,000 (approx…US $150). My business budget runs to Kes. 36,000 (approx… US $ 350). This will enable me buy 2 bales of second-hand clothes, pay for transportation costs and the rest will go to paying rent and other miscellaneous expenses. The returns from this will enable me expand my business which will enable my family to have a good balanced diet and improve their living standards. I would also like to be part of the Zidisha family who will be featured in many success stories. I am looking forward to spreading the Zidisha cheer across my entire region by actively enrolling as many members as possible. I am praying I will get lenders to assist me achieve this noble cause.

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