New stock for my expanded clothing boutique
Kelvin
Nairobi, Kenya
100% repaid
Entrepreneur
Name
Kelvin
Member since
January 2015
On-time repayments
168 installments • 60%
About Me
Being brought up in a family of four children where i was the last born life was not always rosy when I was small. I schooled in a local primary school in my village area but was lucky to get a scholarship for my high school education. After high school i git good grades which enabled me be government sponsored in a public university. Life in campus was hard and i made a decision to look for work to supplement my needs but all in all i never got a good paying job so i started small businesses.
I would buy electronics such as laptops and phones from students and resell them at a profit. This business continued for my first three years of campus until one day when i met a close friend whom introduced me to selling shoes and clothes he linked me up with an importer of new shoes as well as clothes and i became a main seller to fellow students in campus.
I just graduated last year December and I have already laid down strategies of how to continue with this business since its already paying.
My Business
In my business i do sell new imported shoes from china both for men and ladies. i also sell fashionable dresses which are imported and also jeans. All these products have high demand especially by the young generation who represent a majority of our country's population.
Being in the business while still a students I have passed through hardships and challenges and have learn t a lot along the way. The main reason for wanting to continue this business is because The business is able to provide for me and also if I am able to increase its volume i will be in a position to grow to greater levels.
In this business the main costs that I incur includes purchase of stock, payment of government licenses as well as advertising cost, the revenue mainly is from sales of the stock that I have.
The profits that I get from the business i use to reinvest into the business by adding on stock to be able to expand. I also use part of it for my upkeep as i now depend on the business for my living.
Loan Proposal
Hi Lenders,thanks for believing on me and my business I appreciate big.I will use 150 dollars to buy new shoes for reselling which I buy a pair at wholesale price of 5 dollars per pair thus I I will have 30 new pairs.will use 84 dollars to buy men trousers which I buy a trouser at 4 dollars per trouser thus I will have 21 new trousers.I will use the remaining 64 dollars to buy shirts at 3 dollars per shirt thus I will have 21 shirts .I will sell each shoe at 11 dollars thus making a profit of 6 dollars per shoe total profit on shoes is 180 dollars.I will sell each trouser at 8 dollars making a profit of 4 dollars per trouser thus total profit of trousers after sales is 84 dollars.Will sell each shirt at 6 dollars per shirt thus making a profit of 3 dollars per shirt and have a profit of 63 dollars .Total profit expected is 180+84+63=327dollars profit .This loan will help my business to bring the latest clothes and shoes thus increase my profit margin.Thanks in advance lenders for funding my loan.GOD BLESS
Feedback
Positive
3
Neutral
None
Negative
None
Loan Info
Project Type
Classic Loan
Disbursed amount
$370.00
Date disbursed
Sep 12, 2015
Repayment status
On Time
Projected term
67 months
Other loans
Lenders
Southampton, United Kingdom
Stamford, USA, United States
Columbus, Oh, United States
Rockville, United States
Lincoln, United States
Østre Gausdal, Norway
Plano, TX, United States
Haddon Heights, United States
Green Bay, United States
Groningen, Netherlands
Bicester, United Kingdom
Middletown, United States
United States
Ask Kelvin a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.
Loading...