253 installments • 92%
I am a young Kenyan Male residing in Kakamega Town. I am a graduate of Egerton and Jomo kenyatta University and have worked as a banker for the last 9 years with Barclays bank of Kenya and later Equity bank. I have passion for business and i do engage in supplies of general office equipment and commercial poultry farming. I do also engage in the sale of second hand clothes on a small scale. I have learned to get determined in whatever income generating activity that i engage in and hence this has made me succeed in most cases.
I engage in commercial farming and freelance academic consultancy where i am an academic research assistant on various topics. This is my key economic activity that sustains my upkeep. Currently i have started the poultry farming and second hand clothes business and i wish to expand it to a level where i can manage my costs and expenses well while i retain profits. This is a promising business because i have done it for over nine months and i feel it has the greatest potential if i expand it. my current stock is about $4000 and i am seeking $960 so that i may boost my stock by adding 5 bales of ladies clothes so as to serve more customers. The first bale that i was funded here did well and now i have a bigger market. It enabled me to pay my loan well without any difficulty.. This is my second loan and i hope to add more because i have already created demand.
I used the second loan to buy more ladies blouse tops and i have created sold so many during this Christmas season. many more customers still come to check on my business. This has therefore created the need to add more so as to meet the demand. In the location that i am doing the business, the period beginning august till December is a boom period for sale of these ladies tops and this extends into late february. I believe that if get the $300, i will add more bales so that i can meet this demand and maintain the customer goodwill that i currently enjoy. I get one bale of clothes at a price of about $50 therefore if i add six more i will have more clothes to sell and might just need replenishing every two weeks. This will give me good time to keep repaying my loan , just the way i did with the first loan.
Jan 6, 2015
Cost to entrepreneur
Lender interest: $270.42 at 7.03% annual rate over 4 months = $7.57
Service fee: $3.99