Restock my shop to get fees for my 10 siblings

Joyce Chumo

Bomet, Kenya

100% repaid



Joyce Chumo

Member since

May 2014

On-time repayments

52 installments  •  67%

About Me

I am a 25 year old girl,single and i have completed my degree studies and have not yet secured a job yet for myself.I was born in Silibwet,Bomet County in a village called Kipngeno.I did my primary education and secondary near my home area and I was a very bright girl.I had enrolled in Nairobi university where i took a bachelor's degree in Anthropology where i graduated in the year 2012. I come from a polygamous family,I have two stepmothers and TWENTY SIX siblings and ten of them are in school,my father is a peasant farmer and my mum is a peasant business lady.our family income is low it cannot support my siblings in various colleges and high school,that is why i have ventured into business with my mother to help raise our income.My earnings from the the business have been used to pay school fees for my siblings.I assist them especially to get them pocket money since my earnings cannot help with the fees much since it is small.

My Business

I run a small clothes shop at Silibwet,Bomet County.I sell clothes and shoes in my boutique.I started the business from the savings that I made in campus.I also sell cosmetic products and jewellery in the shop.I have ran the shop for the past 11 months and it has grown so much especially with the assistance from zidisha lenders.

I started off with a capital of 120USD but now the business is worth over 450USD and it is still growing.
I make a net profit of around USD170 a month after paying off the costs.
I have employed a very hardworking,and trustworthy lady to work with me.
I stock very selective and classy outfit that catches the eyes of the customers who are the youth especially.
My business is doing well so far: I travel to Nairobi to buy my stock at cheap wholesale prices from Gikomba,Easleigh ,Muthurwa and Ngara markets..My stock includes: Weaves for hair,perfumes,earrings, bangles,necklaces and my market target includes the youth especially and also it cuts across all age groups.
The challenges I face include stiff competition that I face from similar shops but I ward them off buy stocking the best,good customer relation and giving my customers the best prices.
Another challenge is insufficient capital and space to accommodate the new stock.

Loan Proposal

I will spend my loan as follows: The stock has grown almost thrice since my last zidisha loan and there is not enough space for the new stock.I will relocate to a bigger and spacious shop for USD90.This will enable my shoppers to shop freely and wit comfort.I will also diversify my stock to meet all the needs that my customers.I will buy MEN SUITS,shirts and shoes for USD175 since they have been asking a lot.The rest will be used to add the rest of the stock and hire someone extra to make 2 employees to handle the expanding customer base.This will help me to make my dreams come true.






Loan Info

Project Type

Classic Loan

Disbursed amount


Date disbursed

Aug 27, 2014

Repayment status

On Time

Projected term

6 weeks

Cost to entrepreneur

Lender interest: $36.13 at 8.47% annual rate over 1 month = $0.35

Service fee: $0.15



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