Expand my shoe business for the upcoming rainy season
Peter
Nairobi, Kenya
100% repaid
Entrepreneur
Name
Peter
Member since
February 2015
On-time repayments
145 installments • 32%
About Me
I was born in the Rift Valley region of Kenya. This region is famous for producing over 90% of Kenyan long distance runners who have gone on to conquer the world. Naturally, as I grew up, my dream (as well as that of almost every other young child there) was to become a track athlete. I was never successful to this end, partly because of the intense competition and the injuries that halted my development, but I maintained a healthy and fit lifestyle. Unfortunately, I did not continue my education past O levels and so did not get the opportunity to land a good formal job. I decided to venture in business and naturally, I settled on selling second hand as well as brand new sport shoes because of my love for 'the track'.
My Business
I sell new and used sport shoes. Due the increased appetite for leading a healthy lifestyle, there has been increased demand for sportswear. A key and vital component of a sporty wear is shoes. My clients are mostly people who require shoes for exercising but there are others who just love sport shoes for their trendy look.
My typical monthly costs usually include $60 for rental space, $30 for trading licenses and miscellaneous expenses of about $30. I get revenues of about $450 a month with profits averaging $200. I use the profits for my family expenses, paying fees and growing the business. As explained above, i use a rental space to do my business and its just a temporary structure so i humbly request for a loan to built a semi permanent structure so as to improve my business environment thus improving it.
Loan Proposal
Dear Lenders,
I intend to expand my shoe business by including Gum Boots as the rainy season in Kenya is soon approaching. Previously, I have been witnessing reduced sales during the rainy season but I have decided to take measures to boost my earnings this time round. I will acquire new stock of 20 Gum Boots at a total cost of $100 ($5 each).
This will allow me to protect my profitability as well as possibly enhance my profits. I will also be selling a product that will be in demand because of the weather conditions. For the months of March and April, I expect to realize an additional profit of about $100 as a result of this additional investment, which I hope will allow me to repay the loan comfortably.
Your support will go a long way to helping me build my business and possibly change my life and those around me. Thank you.
Kind regards,
Peter
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Mar 5, 2015
Repayment status
On Time
Projected term
2 months
Other loans
Lenders
Waterloo, Canada
Saskatoon, Canada
[email protected], United States
Switzerland
Summary
Amount repaid
$101.34
Amount remaining
$0.00
Date repaid
May 17, 2015
Status
Fully repaid
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| Mar 15, 2015 | $10.13 | Mar 14, 2015 | $10.13 |
| Mar 22, 2015 | $10.13 | Mar 24, 2015 | $10.13 |
| Mar 29, 2015 | $10.13 | Apr 1, 2015 | $10.13 |
| Apr 5, 2015 | $10.13 | Apr 11, 2015 | $10.13 |
| Apr 12, 2015 | $10.13 | Apr 11, 2015 | $0.03 |
| Apr 11, 2015 | $10.10 | ||
| Apr 19, 2015 | $10.13 | Apr 11, 2015 | $0.07 |
| Apr 21, 2015 | $10.07 | ||
| Apr 26, 2015 | $10.13 | Apr 21, 2015 | $0.37 |
| Apr 28, 2015 | $9.76 | ||
| May 3, 2015 | $10.13 | Apr 28, 2015 | $0.68 |
| May 13, 2015 | $9.45 | ||
| May 10, 2015 | $10.13 | May 13, 2015 | $1.54 |
| May 15, 2015 | $8.59 | ||
| May 17, 2015 | $10.15 | May 15, 2015 | $1.30 |
| May 17, 2015 | $8.86 | ||
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