Add stock to my shoe business

Entrepreneur

About Me

I am a self-motivated young man who believes that nothing in this world is impossible. I grew up in western Kenya, where I also studied and successfully completed my O-levels. I am the 3rd born in a family of eight. After completing my O-levels I moved to Nairobi to look for employment as I could no longer depend on my parents, who had to pay tuition fees for my younger siblings. I struggled for a while but soon got a job as an attendant in a local boutique shop. This is where my fascination with women shoes started. I worked there for 18 months, on meager salary, and managed to accumulate some small savings that enabled me quit the job and open my own shop selling women shoes.

My Business

My business involves selling women shoes. I stock mid to small range types of shoes, which are affordable to most women in my neighborhood. The business is season dependent. I register most sales during the months of December, January, April and August.
I specialize in women shoes because, unlike men, women, even in my relatively poor neighborhood, like buying more and more shoes, which means that they is always demand for my products.
In the high season months, I average weekly profits of about 100 dollars whereas in the low season months, I average weekly profits of about 30 dollars. My typical monthly expenses are as follows: business premise rent of 50 dollars, my personal living expenses of 80 dollars and other miscellaneous expenses of 30 dollars.

Loan Proposal

Hello Lenders,
Thank you esteemed lenders for the first loan that you gave me. It really helped me to facelift my business premises as you can see in my profile photo.
In my second loan, I wish to add more stock. Particularly, I would like to stock boots (Ankle, Moto and Hugh boots). This has been inspired by the fact that in Kenya the cold season is about to begin. I mainly sell women shoes and I reckon that my customers will appreciate my new product offering. I first intend to stock 30 second-hand (but gently used) boots at a cost of $6 each ( a total of $180). I am going for second hand shoes because of the nature of my customers and my neighborhood. In addition, the cost of buying new boots is very high and it wont be consistent with the current status of my business and customers. I believe my new product offering will allow my customers to remain fashionable even during the cold and rainy season.
I humbly request your assistance once again and I promise to repay the loan promptly and responsibly as I did with the first loan. Thank you in advance and I look forward to a long term partnership with you.

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Loan Info

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