Buy more stock to expand my business
Alexander
Nairobi, Kenya
100% repaid
Entrepreneur
Name
Alexander
Member since
March 2015
On-time repayments
44 installments • 34%
About Me
I am a 24 year old kenyan currently residing at the capital city of kenya nairobi.
I have been raised by a single mother and hence my childhood was very challenging but i managed to clear my high school education and now am doing my Certified Public Accounting examination currently in section three.Having been able to come this far i really have overcome the financial challenges most people face in their quest to get good education so as to succeed in life.
Back in 2013 having the financial constraints to pay my school fees i had to think outside the box on how to get an extra cent to boost me financially.I started buying house hold goods at a wholesale price and doing door to door marketing i.e directly to the consumer.
I started selling and by GodS grace i was able to get some profits which i was using to pay my school fees.After one year i realised that most of my friends were facing the same challenge and i recruited them into my team and started marketing the products as a team, currently we are 8 in the team and growing.
the one unique thing about Kenyans is that we are very enterprising and go-getters,when we see an opportunity to better our lives we go for it with all the passion and determination
I have no children at the moment but i would love my children to get the best education their is in this world and live a happy life to bring me happy grandchildren and succesful.When am not in my business or studying i like perfecting my guitar playing skills because playing the guitar gives me such a relaxation
My Business
My company mainly deals with door to door marketing of house hold goods like toothpaste,toothbrush,body lotions which are in very high demand in our country.
I usually source the products from wholesalers then sell them to the consumers at a profit.
Toothpaste is used in almost every home in our country and more so on a daily basis with some people brushing twice or thrice a day.This makes its demand to be very high and throughout the year making it possible for my business to survive through any season.
My main cost is transport to pick the inventory,rent and i also pay myself a salary every month because i work on the business fulltime
Mostly i do reinvest most of my profits because i want to grow my business
Loan Proposal
I will buy 2 cartons of toothpaste which will be over within one week so by the time am through with paying the loan i will have re invested the money five times hence it will give me maximum benefit
1 carton of toothpaste=23 dollars hence two cartons 46 dollars
Adding more inventory will make me hire more salespeople hence create employment for some guys who are currently idle
It will also increase my earning potential because i will earn more fro m each salesperson
From this additional capital i expect to earn an extra 10 dollars per week in terms of profit
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Loan Info
Project Type
Classic Loan
Disbursed amount
$50.00
Date disbursed
Apr 8, 2015
Repayment status
On Time
Projected term
6 weeks
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