The purchase of 2 bales of mitumba (second-hand clothes)
James
Githima, Kenya
100% repaid
Entrepreneur
Name
James
Member since
August 2014
On-time repayments
46 installments • 91%
About Me
I m a family man of 50 years who has a wife and six children. My education level is secondary but i did not complete because of school fees in late 1970s. I started as a local casual labouror where i saved enough money start small hawking business. later a opened a small malimali shop in in 1999 which picked up very well. however, demands from my schooling children and intertribal wars made it difficult to sustain the business but i am still selling shoes and school uniform in kianjoya. I have not been able to sell new shoes for a long time, i only sell mitumba shoes. mitumba shoes are second hand shoes from abroad which i buy in bales, repair them and resell them to local people. I use earnings to pay school fees for my children, to feed my family and to support my elderly parents whenever they are in need. I spend my free time listening to local music.
My Business
my business can be described as mainly selling old (second hand) shoes. these shoes are imported by able dealers who sell to us in bales. we repair them and sell them to customers. my business is based on the belief that people will always wear shoes and thus demand for shoes will always be there. however, some seasons are better that others. per month i am able to get a profit of about 120 dollars. the challenge we face so much is the changing life in kenya. people now want new shoes and clothings. this is why i want a loan to improve my capital base so that I am able to buy new shoes and school items that are rather costly in the near future. The profit i get is enough to pay the loan i really believe.
Loan Proposal
I intend to use the loan to purchase 2 bales of second-hand clothes and shoes at $100 each. Stock is an important aspect of my business because it helps in maintaining my current clientele, while also attracting new customers. My family is entirely dependent on the money I make from the second-hand clothes business; and as such, the loan will go a long way towards ensuring that the business flourishes. Thanks
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Loan Info
Project Type
Classic Loan
Disbursed amount
$162.00
Date disbursed
Apr 15, 2015
Repayment status
On Time
Projected term
8 weeks
Lenders
Plainsboro, United States
Silver Spring, United States
Norway
United Kingdom
United States
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