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
Hi my lenders. First I would like to thank you very much for your help. Please note this is the third loan am applying. The first one I used it to expand my second hand shoe business. The second I used it to improve the place where I do the business, I was able to build a nice structure which I use at the moment. I have successfully repaid all the loans. Now the third one I would like to open a branch for my wife. She will deal with second hand ladies shoes and tops. She will be buying the goods from the wholesale market where it is sold in bales. One bale goes for between usd: 70.00 to usd: 90.00. Upon opening the bale and you sell one by one the profit comes to about, usd: 50.00 per bale. The profit we will use it to improve on our daily lives, pay school and college fees for our children and save a little for our future. For sure I hope to increase our profits for the two businesses. Thank you very much. God bless you all.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$195.00
Date disbursed
May 5, 2016
Repayment status
On Time
Projected term
27 months
Other loans
Lenders
United States
United States
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