Supplying taekwondo uniforms to martial arts schools

Ernest

Nairobi, Kenya

61% repaid

Entrepreneur

Name

Ernest

Member since

October 2016

On-time repayments

115 installments  •  49%

About Me

I was born in Butere, Western Kenya and had a decent education. I completed high school and eventually graduated from the then Kenya Polytechnic with a diploma in Building Engineering in 1986. I'm a father of seven: four boys and three girls, with my second-born girl in university while the first born is to join campus next year.

What's interesting about me is I've never worked in the field; I studied as I took to sports early in life. I played on the Kenya National Taekwondo team since I was in sixth form until 1992. I was the Head Coach for Taekwondo in Kenya from 1986 to 1999 when I left for Kampala, Uganda. In Uganda, I revived their Taekwondo, having been appointed the national coach, a position I held till 2009. During my stay in Uganda, I learned their language and had my second wife from Bunyoro. I found that the education system in Uganda is better than what we have in Kenya. They still have the 7-4-2 University. They have the best education industry in East Africa with students coming to study in Uganda from all East African countries. This has led me to have all my kids study in Uganda where they stay with my wife except for the eldest two, who are in Nairobi with me to pursue university education.

I came back to Kenya in 2010 on a call from the Kenya Taekwondo Association to take the Kenyan team to Cairo for the Olympics qualifiers tournament. That's when I decided to stay and support my daughters with their university education.

My Business

I realized while in high school that I was talented in the sport of taekwondo, having made the Kenya national team while still in school. When I cleared with my diploma studies, I decided to follow my passion. Inevitably, I had to earn from the sport which I had taken full time. In those early days, it was not easy to make money in an unknown sport like taekwondo. This forced me to expand my knowledge in the industry and become a gym instructor. l eventually founded in 1994 the Kenya Taekwondo Academy as a gym, where I have taught and continue to teach people interested in taekwondo. This is where I merchandise training kits, uniforms and other accessories. As a gym instructor, l'm always interacting with people seeking to be fit, lose weight, and build their bodies.

I've had my success in this field. I earned a bronze medal in the 4th All Africa Games. I have traveled to all continents over the past three decades I have been in this sport. Currently, I'm the highest ranking taekwondo expert in the East Africa region. I should be getting my 7th degree Black Belt before the end of this year.

Loan Proposal

I have been able to supply and sell taekwondo training uniforms to children I train and some from other schools. I now have inquiries for uniforms for adults, too. With this loan I plan to add to my stock of the kids' uniforms and also be able to expand my inventory by adding uniforms for adults.

If I can get this loan before the end of the school holidays of August, then I should be able to restock at least twice before I clear the repayment. I look forward to your support, and thank you for the support and trust.

Buy 50 kids uniforms at $15 = $ 750.00
Buy 18 adult uniforms at $20 = $360.00

Sales:
Kids uniforms $20 X 50 = $ 1,000.00
Adults uniforms $30 X 18 = $ 540.00
Total sales 1,000 + 540 = $ 1,540.00

Cost of buying uniforms $ 1,110.00
Overhead $ 6.00
Total $1,116.00

Expected net profit $ 1,540 - 1,116 = 424.00

When I recycle the capital in a space of three months, then I will double my profit to $828.00. With this I will be able to clear my children's outstanding school fees for this year.

Show original English  

About Me

Born in Butere Western Kenya had a descent Education completing High School and eventually graduated from the then Kenya Polytechnic with a diploma in Building Engeneering in 1986.
I'm a father of seven four boys and three girls with my second born girl in University while the first born is to join Campus next year.
Interning about me is I've never worked in the field I studied as I took to sports early in life . I played on the Kenya National Taekwondo team since I was in sixth form till 1992, was the Head coach for Taekwondo in Kenya from 1986 to 1999, when I left for Kampala Uganda. In Uganda I revived their Taekwondo having been appointed the National coach, a position I held till 2009. During my stay in Uganda I learned their language and had my second wife from Bunyoro. I found that the Education system in Uganda is better than what we have in Kenya, they still have the 7-4-2- University. They have the best Education industry in East Africa with students coming to study in Uganda from all East African Countries. This led me to have all my kids study in Uganda where they stay with my wife except for the eldest two who are in Nairobi with me to peruse University Education.
I came back in Kenya in 2010 on a call from The Kenya Taekwondo Association to take the Kenyan team to Cairo for the Olympics qualifiers tournament. It's when I decided to stay and support my daughters with their University Education.

My Business

I realized while in High School that I was talented in the sport of Taekwondo having made the Kenya National team while still in school. When I cleared with my diploma studies I decided to follow my passion. Inevitably I had to earn from the sport which I had taken full time. In those early days it was not easy to make money in an unknown sport like Taekwondo. This forced me to expand my knowledge in the industry and became a gym instructor and l eventually founded 1994 the Kenya Taekwondo Academy, as a gym where I have taught and continue to teach people interested in Taekwondo. This is where I marchandize in training kits, uniform and other accessories. As a gym instructor l'm always interacting with people seeking to be fit, loose weight, build their bodies.
I've had my success in this field, I earned a bronze medal in the 4th All Africa Games , have travelled to all continents over the past three decades I have been in this sport. Currently I'm the highest ranking Taekwondo Expert in East Africa region - I should be getting my 7th degree Black Belt before the end of this year.

Loan Proposal

I have been able to supply and sale Taekwondo training uniforms to Children I train and some from other schools. I now have enquiries for uniforms for adults too. With this loan I plan to add my stock for the kids uniforms and also be able to expand my inventory by adding Uniforms for adults.
If I can be able to get this loan before the end of the school holidays of August, then I should be able to re-stock at least twice before I clear the repayment.
I look forward to your support, and thank you for the support and trust.
Buy 50 kids Uniform at $ 15 = $ 750.00
Buy 18 adults uniforms at $ 20 = 360.00

Sales:
Kids uniforms $ 20 X 50 = $ 1,000.00
Adults uniforms $ 30 X 18 = $ 540.00
Total sales 1000 + 540 = $ 1, 540.00

Cost of buying uniforms $ 1,110.00
Over head $ 6.00
Total $1,116.00

Expected net profit $ 1,540 - 1,116 = 424.00
When I recycle the capital in a space of three months then I will double my profit to $ 828.00
With this I will be able to clear my children's outstanding school fee for this year.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$1,214.00

Date disbursed

Sep 10, 2017

Repayment status

Late

Projected term

18 months

Lenders

W

Witlof

Tsukuba, Japan

BelleStarr

Albuquerque, United States

AltruisticSelfishnes

Chicago, United States

ErikN

Stockholm, Sweden

AndreaBravi

London, UK, Canada

Pere

Barcelona, Spain

johnandmoliehi

Canton, New York, United States

J

JakeA

Wellington, New Zealand

indeh

London, United Kingdom

Cloudways

Malta, Malta

L

loistf

Madrid, Spain

G

Goodwill

Oakland, United States

ads68

Melbourne, Australia

A

Andy

Berlin, United States

G

glh25

Winooski, United States

fairspirit

Utrecht, Netherlands

Bobrm2k3

Charleston, United States

BF

Bob Fitzjohn

Fontvielle, Monaco, Yemen

M

Moonknight

Østre Gausdal, Norway

gseletko

South Perth, Australia

JonB

London, United Kingdom

C

Clben7

Cincinnati, United States

Evan Lamos

Brussels, Belgium

sderickson

Berkeley, CA, United States

D

drorm

United States

lyalljellyman

Wellington, New Zealand

mepster

San Francisco, Ca, United States

johnhudson

Washington, DC, United States

J

jsbisa

New Orleans, Louisiana, United States

B

bscent

Hong Kong

F

factotums

United States

Grant Xavier Storer

Seattle, Wa, United States

SuperMario28

Cudahy, United States

Mike and Jacqui

United Kingdom

S

Stephan

Netherlands

JL

Joao Leal

United Kingdom

Alberto Cereser

Copenhagen, Denmark

MD

Miles Dodge

CORVALLIS, United States

MW

Matt Willis

United States

W

Wade

United States

JD

Jo Dane

Melbourne, Australia

ME

Manaal Eisa

Washington DC, United States

TH

tom hd

United Kingdom

Pedro R-C

Cambridge, United States

Joe Lamantia

Reston, Virginia, United States

A

Andrei

United States

Christopher Hey

Sudbury, Canada

M

Maggie

Australia

Carlo Cruz

Cincinnati, OH, United States

V

Vidar

Oslo, Norway

RC

Rudi Chen

United States

Stephan W

Witten, Germany

Rose Life

Columbus, United States

BW

Betty Waweru

United States

RG

Ravi Gadad

United States

JA

Jan Andresen

Hamburg, Germany

Sinan Taifour

Munich, Germany, Germany

SA

Shar Alamdari

Los Angeles, United States

Craig Newmark

United States

Benjamin Kniaz

Boston, United States

SH

Stephanie He

United States

WS

Warren Shen

United States

Humble Bundle Community

San Francisco, United States

JA

Joshua Axtell

United States

R

Ralf

Germany

RG

Ryan Gough

United States

BP

Bill Piper

United States

D

Dalton

San Francisco, United States

HCPSPIRIT

Helsinki, Finland

Jean Wren Chan

United States

MH

Meika Harris

United States

G

grahamk

United States

R

RMIM

United States

Mike

Indianapolis, United States

DW

Dan Winetsky

United States

WC

Walter Clarke

Phoenix, United States

JH

Joseph Hwang

Houston, United States

Paul Buchheit

Mountain View, United States

M

Mary

United States

TL

Tao Luo

United States

A

Anonymous

United States

Nethanel Kohen

NYC, United States

HB

Hugo Boss

United Kingdom

JP

Junggiu Park

Seoul, Republic of Korea

CL

Chris loera

United States

Ask Ernest a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.

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  • Ernest    Nov 3, 2018

    I had a personal tragedy that severely affected my family and finances, I'm still recovering from it

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  • Mary    Feb 7, 2018

    Please reduce your payment if you need to to keep up with your loan. As a lender I have 21 loans where the borrowers have not made payments, some for close to a year. This affects everyone. I cannot lend what I am not paid back. Making regular payments even small ones helps everyone have access to the funds they need to grow their businesses. Thank you.

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  • Ernest    Sep 25, 2017

    Most of my clients are Primary School children and we have just started third term. Most schools are focused on finishing the syllabi for the year, hence less emphasis on sports. This has led to low sales, they should pick up after the end of exams period.

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  • Ernest    Aug 19, 2017

    Hi Mary and the entire Zidisha leading community, thank you very much for extending your lending hand, I am truelly humbled as this loan is going to help me buy and sell my next stock of Teakwondo uniforms for kids and adults. I will use the profits from this consignment to pay school fees for my children for the third term.
    Thank you so much once more and may the lord bless you abundantly.
    Cheers Zidisha Team
    Ernest

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  • Mary    Aug 17, 2017

    Sounds like you have had a wonderful career Ernest. I hope opportunities continue to be presented to you in your future!

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  • Dean Suminski    Aug 7, 2017

    Congratulations on paying off your loan!

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  • Ernest    Aug 7, 2017

    I would like to sincerely express my gratitude to the the lenders in the Zidisha organization, I can attest that the loans that I have received from Zidisha have made a significant difference in my income and I can see myself being able to realize my long term goal of owning a full fledged sports shop.
    The last loan that I have just completed has enabled me to have a steady stock of Taekwondo training kits for children, I have also stocked a few kits for adults. I am applying for this next loan to expand my capacity my stocks.

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  • Ernest    Aug 7, 2017

    I am in a position to repay all the out standing amount on my current loan. I would like to clear this amount and hope to raise the next loan so that I will have stocks to sell in the last quarter of the year.

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  • Ernest    Jun 6, 2017

    I would like to reduce my weekly installment payments so that I meet the mandatory four months with my current loan to qualify for a higher loan on my next borrowing.

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  • Ernest    May 6, 2017

    I would like to increase my current payment limit as my business can accommodate it now and it also has the added advantage of finishing my payments earlier hence I can access my next loan quicker.

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  • Ernest    Apr 24, 2017

    Hallow to the Lenders
    I thank you sincerely for the loan that received after my application went through. I got a total of Kenya Shillings Seventy seven thousand eight hundred and thirty on 21st April 2017 - while I was out of Nairobi for a Taekwondo competition in the coastal town of Mombasa. I came back today and I have already placed my first order for the first butch of uniforms for my trainees. I hope to be able to recycle this capital at least three times before I finish paying this loan in three months time.
    Thank you once more and may God bless your lending hands.
    Best regards
    Ernest Olayo Madanji.

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  • Ernest    Apr 13, 2017

    Hallow to you all that are undertaking this noble task of lending a hand to us to those of us that who really need it to make the next step in our lives. I am thrilled to benefit from this loan that I applied - I am going to buy a stock of Taekwondo uniforms that I will re sale to my trainees most of whom are kids, I hope to circle the capital at least once before my repayment time is up.
    Thank you so much, rest assured that your lending hand is not in vain, you sure are your brothers keepers.
    God Bless

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  • Ernest    Mar 28, 2017

    I am now in a position to increase my weekly payment. It is will shorten my duration for payment and enable me to apply for the next loan which is for investment bearing in mind that this initial loan was depositors' fee.

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  • Ernest    Jan 4, 2017

    I would like to get a loan increment so that I expand my business further. But I have noted that you changed the time duration that I am supposed to hold my present credit from three to six months. This means that if I continue paying at the rate I have been paying I will repay the loan earlier than the mandatory six months which will disqualify me from getting an increase on my next loan.

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  • Ernest    Oct 24, 2016

    I am very great full for lending me a hand . This loan will open a way for growth for me and my family, open a door that for far too long I have watched it shut knowing very well that through it life will be better. Thank you very much for your noble gesture. Indeed there are many like me that do not have the conventional collateral to secure credit the traditional ways, but with this Zidisha set up, this push that we can get goes a long way to change and touch many lives that depend on us. Thanks again and God Bless You.

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