To boost my ladies second hand shoes business

Custone

Eldoret, Kenya

36% repaid

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How it Works

Entrepreneur

Name

Custone

Member since

February 2015

On-time repayments

44 installments • 7%

About Me

MY STORY
My name is Cuntone Jeremiah Khaemba. I am a thirty eight year old Kenyan married to Marian Katurkana and together we are blessed with three children namely, Damaris, Gideon and Allan. I was brought up in a humble background. My late father was a peasant farmer while my mother was a house wife
They did their best to see to it that being the first born I am educated through Primary and Secondary. Unfortunately, my father passed on in the year 2005 and so I had no option but to look for ways of supporting my siblings who were still at a very tender age by then.
Finding myself in this situation, I had to look for something to do in order to assist my mother take care of us. I tried to look for employment but it was not forthcoming for it is not easy to get employment without somebody holding your hand. After trying for sometime, I gave up and decided to venture into business. This was not also easy for I needed some start up capital.

My Business

MY BUSINESS
After struggling to get started, I managed to open a barber shop from the savings that I acquired from casual labor here in Eldoret town. I did this for three years before the situation demanded for more expansion so as to accommodate matters arising in the family.
A friend introduced me to sell ladies second hand shoes. From that time to date, I am in this business. From its proceeds, I have seen my two siblings through their Secondary education while my first born is in form two.
At the moment I have stock of about Kshs. 15,000 which is equivalent to about US$ 150. When business is good I can make profit of Kshs. 3000 which is about US$33 per week. From this, I use 2o% for rent, 30% I plough back into the business, 30% I use to help my old mother and my younger siblings while the remaining 20% I use for food in the family and any other issues that might crop up.
BUSINESS PROPOSAL
If my loan is fully funded, I will use the entire amount to boost my stock of second hand ladies shoes. This will increase my profit margin substantially enabling me to be in position to help my customers get quality ladies shoes at an affordable price.
With increased profits, I will be able to improve my living standard and that of the people around me. I will be able to service my loan weekly.

Loan Proposal

I f my loan is fully funded, I will use the whole amount to increase my stock. What I need is just several pairs of shoes of different sizes.

This will increase my profit margin and thus benefit me, my family and my customers. This will increase my profit at least by 4,000KES that is equivalent to US$45.