Shoe stock boost

George

Nairobi, Kenya

100% repaid

Entrepreneur

Name

George

Member since

October 2014

On-time repayments

230 installments  •  35%

About Me

I am 31 years old, married still not blessed with a child. Professionally I am an Accountant and part time entrepreneur. Financial constraints is an ever present thing in employment life, so I do small scale business besides to raise extra income to support my other siblings and also get college fee for my ongoing degree program.
I love soccer and rugby and I like financial reports and business news. I started working as a casual employee then enrolled for accounting courses, from that I was able to be employed permanently, I still believe business is the way to go!

My Business

I am selling second hand shoes, I buy in bulk at lower price and the profit margin is good, usually I buy bales 2 bales per week, each bale contains approximately 150 pairs, each bale costs USD37 so by 2=USD74 , I sell each pair at 5USD, so if sell the two bales completely I will make (5USD*300)=1500USD which gives me a good profit margin.
I chose this business because second hand shoes is fast moving and does not go bad, and the business is also flexible in that I am able to juggle it up with my part time studies.
I use the profit for reinvestment into the business,my college fees, upkeep and also fees to my younger sisters who are in high school.

Loan Proposal

I will increase my stock which has gone down, my target is to buy 600 pairs each at
USD0.54466 and sell at USD1.63399 to USD2.72331 depending on the bargaining power of the buyer, averagely if I successfully sell the whole stock I will make a profit of between USD653.80.392 and USD1,089.32. after paying the transport and other charges, this will help me grow my business and pay my college fee as well.

Feedback

None

None

None

Loan Info

Project Type

Classic Loan

Disbursed amount

$226.00

Date disbursed

Mar 27, 2015

Repayment status

On Time

Projected term

4 months

Lenders

G

gt2016c

Birchgrove, Australia

S

searthsong

Colorado Springs, United States

N

noah695

Salt Lake City, United States

Tjitser

The Hague, Netherlands

A

AJCortens

Boise, ID, United States

J

jjcharlie

chicago, United States

H

Houdini314

Elwood, United States

ZlataRoy

Cheltenham, United Kingdom

F

FaaThailand

Bangkok, Thailand

P

paulo1

Aptos, United States

MichaelDean

San Jose, United States

G

giaco

madrid, Spain

A

Aloha

Cologne, Germany

Z

zemaj

Sydney, Australia

M

markj

Camberwell, Australia

J

Jacquinta

London, United Kingdom

G

Gerhard

Pretoria, South Africa

AF

a f

washington, United States

yeahboi78

Alexandria,LA, United States

Zidisha

Sterling, United States

K

kathy207

South Portland, United States

A

aliasadsj

Queens, NY, United States

sebastienrosa

Quebec, Canada

T

ToddK

Indianapolis, IN, USA, United States

S

Steveandson

Arlington, United States

A

ashtanga99

Newport, United States

G

GLWall

Iowa, United States

S

Scaramouche

Brisbane, Australia

Foxjam

St. Paul, United States

K

kipwhite

California, United States

P

Piccolo

London, United Kingdom

M

Marianne

London, United Kingdom

DaveinPerth

Perth, Australia

K

kingmark1

Calgary, Canada

A

ante1

trosa, Sweden

BJ

Brandon Joz

North Carolina, United States

R

rmacaw

Australia

Aggul

London, United Kingdom

Jeff and Marcie

Portland, OR, United States

E

Elisa

Espoo, Finland

N

NancyG

Victoria, Canada

RockinRobin

Centennial CO, United States

R

Rossman

Poland, United States

HansLindgren

Uppsala, Sweden

C

CrazyCanuck

Nepean, Canada

MichaelR

Los Angeles, United States

J

JayJay

Cleveland, United States

C

CheesemanDan

Shanghai, China

A

Alicee

Munich, Germany

D

danny

Karlsruhe, Germany

P

proby24

Singapore, Singapore

phytoplankton

United States

T

tmsaddress

Orlando, Florida, United States

J

jimmydjjr

Gautier, United States

Elaine123

Philadelphia, United States

ads68

Melbourne, Australia

T

thebonseung

Republic of Korea

J

jmwinga

Denver, United States

Jonas

Brussels, Belgium

Paul Buchheit

Mountain View, United States

mhooper1962

London, United Kingdom

mepster

San Francisco, Ca, United States

Leonardia

Waddinxveen, Netherlands

KM

Kirsty M

United Kingdom

MW

Matt Willis

United States

Ask George a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.

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