Entrepreneur
Name
George
Member since
October 2014
On-time repayments
230 installments • 35%
About Me
I am 31 years old, married still not blessed with a child. Professionally I am an Accountant and part time entrepreneur. Financial constraints is an ever present thing in employment life, so I do small scale business besides to raise extra income to support my other siblings and also get college fee for my ongoing degree program.
I love soccer and rugby and I like financial reports and business news. I started working as a casual employee then enrolled for accounting courses, from that I was able to be employed permanently, I still believe business is the way to go!
My Business
I am selling second hand shoes, I buy in bulk at lower price and the profit margin is good, usually I buy bales 2 bales per week, each bale contains approximately 150 pairs, each bale costs USD37 so by 2=USD74 , I sell each pair at 5USD, so if sell the two bales completely I will make (5USD*300)=1500USD which gives me a good profit margin.
I chose this business because second hand shoes is fast moving and does not go bad, and the business is also flexible in that I am able to juggle it up with my part time studies.
I use the profit for reinvestment into the business,my college fees, upkeep and also fees to my younger sisters who are in high school.
Loan Proposal
Loan Proposal for Shoe Sale business
Purpose of Loan
To boost Inventory of shoes
Repayment
will come from continuing net profits on a weekly basis
Distribution is from Nairobi to Kisumu Lead-time on ordering for inventory is quite short , The suppliers are at Gikomba market.
Almost all the suppliers offer discounts, some even larger than 2% . Last year there was one major price increase of about 5%, this is due to tax on imported products in Kenya.
This is a distribution business and, therefore, depends upon efficient routing . No alarming bad debts since 90% of sales are on cash basis.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$50.00
Date disbursed
Nov 10, 2014
Repayment status
On Time
Projected term
6 weeks
Other loans
Lenders
Germany
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