More stock for my bags business

Samuel Karanja

Kajiado, Kenya

100% repaid

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How it Works

Entrepreneur

Name

Samuel Karanja

Member since

November 2018

On-time repayments

5 installments • 80%

About Me

Hi, I'm Samuel living in Ongata Rongai town which is in Kajiado county, in the outskirts of Nairobi, Kenya. I run a business of retailing second hand assorted bags at my shop in Ongata Rongai town.

My Business

I run a shop merchandising assortment of second hand bags. I started the business five years ago and i want to take it to the next level. I have stumbled on an opportunity to buy out a struggling business and convert it as my store so as to expand my business.

I need US $ 500 to pay for the goodwill and do renovations. The breakdown is as follows

I'll use US $ 300 to pay rent arrears for the said shop.

Pay US $ 100 as transaction fee for change of ownership.

Use US $ 100 to renovate the premises.

In total I'm requesting Zidisha team for a loan of US $ 500.

Looking forward for your assistance.

Loan Proposal

I am in the business of selling second hand bags. I buy bales of mixed bags which i later retail in my shop. A mixed bale of bags will cost an average of US $ 500 which i will retail at an average of US $ 700. Less overhead expenses of about US $ 100 i therefore make about US $ 100 as profit. With injecting more capital to boost my stock, i'm looking forward to increase the profits. Kenya being a developing country, most of my customers comfortably afford my merchandise and have helped me grow my business. It's a win-win situation for my self and the customers i serve. I thank Zidisha and look forward to working closely with the organization.

Feedback

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M
Margaret Jan 12, 2019

The loan was paid off perfectly.

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Loan Info

Project Type

Classic Loan

Disbursed amount

$14.00

Date disbursed

Nov 22, 2018

Repayment status

On Time

Projected term

1 week

Other loans

Nov 2018: $1

Dec 2018: $31

Jan 2019: $34

Lenders

Daniel Lukac

Canada

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JK
Jan Klemming McDonald Mar 26, 2019

Samuel - What has happened with your plans?

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JK
Jan Klemming McDonald Feb 18, 2019

Samuel
I hope it is going well with your store!

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Samuel Karanja Jan 25, 2019

Hi, Wish to thank Zidisha team for your support. Will definitely keep you updated and look forward to working closely with you for a long time.

Regards,

Samuel

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JK
Jan Klemming McDonald Jan 24, 2019

Good Luck with your expansion!

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M
Margaret Jan 24, 2019

Good Luck Samuel with your new business plan.

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Samuel Karanja Jan 20, 2019

Hi, I added more stock with the funds i received from the loan i got last time. I thank Zidisha team for their support. This time round I've stumbled on an opportunity to buy out a struggling business next to mine at a cost of US $ 500. I intend to acquire the business and convert it to a store for my merchandise. I've broken down the cost as follows

Rent arreas for the shop at US $ 300
Transaction fee for change of ownership at US $100
Rennovations at US $ 100
Total US $ 500
This will help my business to grow.

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Samuel Karanja Dec 25, 2018

Hi Zidisha team.
Wishing you all a merry Christmas, happy festive season and a prosperous new year! Thank you once again for supporting our entrepreneurship initiatives.

Regards,
Samuel

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Samuel Karanja Dec 9, 2018

Thank you for the support. Will use the funds advanced to me to increase stock in my business.
God bless you.

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M
Margaret Dec 1, 2018

Good luck with your new loan!

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- Samuel Karanja Dec 3, 2018
  
  Thanks a lot. I wish to thank the entire Zidisha team for this noble project. It's a noble initiative of empowering middle level entrepreneurs. By helping us grow our businesses, we also create job opportunities for others. I currently employ one staff.
  
  Regards,
  Samuel
  
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J Dec 1, 2018

Dear Samuel

During your next loan request, please post a photo of yourself at the top of your profile. (This is a Zidisha requirement).

The photo needs to clearly show your entire face, preferably smiling, and preferably taken at the location of the project for which you are requesting a loan.

The photo currently in that top spot, you can move to a lower spot on your Discussion page, along with a comment about it for your lenders.

Kind regards,
Joost
Team Zidisha

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Samuel Karanja Nov 30, 2018

From the loan i got, i added stock and i intend to reinvest the proceedings back in the business.

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