Second-hand clothing start-up

Margaret

Mombasa, Kenya

62% repaid

Entrepreneur

Name

Margaret

Member since

July 2014

On-time repayments

198 installments  •  79%

About Me

My name is Margaret Wanja. Born in Meru County around Mt. Kenya. I went to primary and later secondary school for my education. I later joined a training college where I enrolled for a certificate course in computer applications. I later relocated to Mombasa where I got a job in a photoshop where I was employed as a computer operator. I worked there for about 2 years and later decided to start my own business.

I am a single mother of one daughter aged 1 year. I am a hardworking person who is always trying to improve the quality of my life by expanding my business and also seeking more knowledge through training. I am currently doing a short course in video editing.

My Business

I deal with selling of mobile phones accessories, eyeglasses, watches and other trinkets. I have been in this business for two years. I have gained valuable experience during this period and I feel confident that I have found my right type of business. However, I do face a number of challenges key among them lack of adequate capital to stock my store.

I normally buy my stock from Nairobi and if given credit by Zidisha I hope to buy more stock with the money. My shop is normally frequented by young people and most of them can afford the stuff I sell since they are mostly low-end type. I get a good number of clients per day since the shop is located at a very busy area in town.

Loan Proposal

I have always had a desire to diversify my business. The current one is doing well but I now want to venture into the business of selling second hand clothes. I have some unused space at my current premises and I want to use it to start the clothes business.

With this amount, I will be able to buy 5 bales of used clothes and do some repair work on the premises. This will make a big difference in my life because I am expecting more income from this venture and I am also going to employ one person to help me run the business.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$700.00

Date disbursed

Sep 28, 2016

Repayment status

Late

Projected term

67 months

Lenders

JG

Jake Gibson and Beverly Picardo

San Francisco, United States

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