Entrepreneur
Name
Samuel
Member since
January 2015
On-time repayments
250 installments • 49%
About Me
My name is Samuel Kangethe, a father of two children – a boy aged 13 years and a girl aged 9 years. I live with them and my wife in Mombasa city. I was born to peasant farmers in Central region of Kenya 44 years ago.
I went to school up to secondary level and later joined a mechanical engineering college where I trained as an auto-motive technician. I tried my hand as a mechanic but later lost interest in the job and got employed as a public bus driver. I did this job for five years, where I faced a lot of difficulties like police harassment. This made me quit and I relocated to Mombasa to search for greener pastures.
I opened a music shop and later decided to sell used clothes in the same premises so as to supplement my income. This is what I do to date and I make enough profit to support my family and my parents back home.
My Business
I source my music from music producers, artistes and local agents. The business is profitable since Mombasa is a big town with a high population which ensures that there is a constant demand for music especially from the youths. I make a profit of about $300 from this venture.
I get clothes for my shop from local dealers and then I retail them. Just like the music business, there is a constant demand for clothes due to the high population and the friendly cost of my products. I do it on a small scale and I make a profit of about $150 from this department.
My main reason for asking for this loan is to strengthen the used clothes section which will see an increase of sales hence improved profits.
Loan Proposal
I have been selling used clothes for a couple of years now and I now want to diversify to selling shoes as well. This is to enable me serve my clients under one roof. I am hoping that this venture will be a success since I have a clientele base due to my other clothes selling business.
Hopefully, this will increase my income and give my family a better life. I plan to start this new venture as soon as I get the money. Thank you.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$120.00
Date disbursed
Oct 4, 2016
Repayment status
On Time
Projected term
10 months
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