Purchase of goatskins for making leather

Joseph Kimathi

Nairobi, Kenya

100% repaid

Entrepreneur

Name

Joseph Kimathi

Member since

April 2015

On-time repayments

18 installments  •  22%

About Me

I was born and brought up in Nairobi. I studied in Nairobi for my primary school then went to Chinga Boys for my secondary education. I proceeded to Egerton university for a bachelor in commerce degree. I also got a diploma in banking from New Era college. I initially worked for Co-operative bank of Kenya, then went to Cfc Stanbic bank and finally ABC bank, where i was in relationship management. I left banking in 2012 and ventured in the business of mining gemstone. I am also in the business of skins and hides. It was a challenge initially in my conversion from formal employment into business . This was countered by the entrepreneurial spirit that i have and to date i have been able to undertake different projects unto a successful completion. I love rugby, traveling and wealth creation.

My Business

I am in the business of mining gemstones as well as trading in animal skins and hides. The gemstones market is very vibrant as well as very lucrative as the returns are very good. Being rare, the mining of gemstones is a business that provides a wide array of opportunities with handsome returns in the monies invested therein. The business of animal skins and hides on the other hand is relatively easier as the products are readily available even though the demand for the same usually outweighs the supply. I usually carry out the mining business in Isiolo whereas the skins and hides operations are in Kisii. The mining business was always a passion I had when I was growing up whereas for the animal skins and hides business I developed the interest while working in the bank. I use my profits as reinvestment into the businesses as well as for paying my bill. The costs in the animal skins and hides is relatively lower than the cost in mining whereas the returns are opposite.

Loan Proposal

I intend to purchase 18 goat skins at a price of Ksh 250 per piece to help in the bridging of an order that i have of supplying 50 goat skin. I will then sell the same goat skins at a price of Kshs 600 per skin. With the initial monies plus the profit generated i.e. Ksh 10,800 i will proceed to complete the supply as a whole. Once the initial order is supplied, then i will be able to source for more orders in that line and thus generate more profits as i build on my capital.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$50.07

Date disbursed

Apr 13, 2015

Repayment status

On Time

Projected term

2 months

Cost to entrepreneur

Service fee: $2.50

Upon joining Zidisha, Joseph paid a lifetime membership fee of $8.73.

Joseph opted to pay $17.46 into the Zidisha Members Loan Fund in return for a higher starting credit limit.

Other loans

Lenders

DavidHS

United Kingdom

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