Stock of used textbooks in readiness for upcoming school term

Stephen

Mombasa, Kenya

100% repaid

Entrepreneur

Name

Stephen

Member since

February 2015

On-time repayments

326 installments  •  77%

About Me

My name is Stephen Kimani, but my friends call me Steve. I was born in Kiambu County in the central highlands of Kenya twenty three years ago. I was born in a farming community where most people are involved in food farming as well as livestock keeping. My parents are such farmers and I spent my childhood years in our farm helping them in their farming activities.

I went for primary school and later joined secondary school for my basic education. I did a course in electronics maintenance later and I am a qualified technician in mobile phone repair. However, I did not pursue that career because the I found the work too demanding and with very low income.

It is then that I decided to relocate to Mombasa town to live with a relative who had a business of selling motor vehicle spare parts. I worked for him for two years as a shop attendant and then decided to start my own business of selling second hand books. This is what I am still doing to date.

My Business

I deal with selling of second hand school books. I normally get the old books from parents whose children graduate to the next classes. This is a common practice in Kenya where old books are passed on to those who are in lower classes instead of buying new books which are more expensive.

I also sell new books when I run out old books stocks but this is very rare. The business is quite profitable since my profit margin is about 40%. The main challenge of this business is that it is seasonal and it normally peaks when a new school term begins usually in the months of January, May and September.

My business gives me a net income of about $200 per month. I spend this money to buy more stock and for my upkeep.
I run my business from a roadside structure but my dream is to have a secure store where the books will be safe from thieves and the elements.

Loan Proposal

A new school terms begins next month. This is the time school text books are in high demand. My new loan has coincided with this season and this is the best time for me to ask for more credit so as to take advantage of this demand.

With this money, I will be able to buy an assortment of text books for both primary and secondary school students. I am hoping to make quick sales of the same and the income will help me in my business expansion plans where I intend to keep increasing my stock of text books so that my customers can get virtually all their needs from my store.

Thanking you in advance.

Feedback

1

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Loan Info

Project Type

Classic Loan

Disbursed amount

$181.00

Date disbursed

Aug 24, 2015

Repayment status

On Time

Projected term

8 months

Lenders

ErikN

Stockholm, Sweden

Jacob Hedegaard

Risskov, Denmark

Ric

Iloilo, Philippines

F

flaguy999

Tampa, United States

AT

avni trivedi

United Kingdom

M

MxK

Germany

wissam

Jeddah, Saudi Arabia

Taylor

Memphis, United States

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  • Elisha    Apr 5, 2021

    He says his finances can't afford him to repay, but he will pay soon.

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  • Stephen    Jan 22, 2021

    Financial constraints

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  • Stephen    Dec 4, 2020

    Financial constraints caused by covid -19

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  • Stephen    Oct 31, 2020

    Due to financial constraints

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  • Janice    Oct 31, 2020

    Stephen has explained more concerning him being late in repaying his loan though he will be sending his scheduled instalments next week.

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  • Stephen    Oct 6, 2020

    Due to financial constraints caused by covid 19 pandemic

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  • Janice    Oct 1, 2020

    He sad that even if there is no business at all,he will be updating his account payment come tomorrow on Friday.

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  • Stephen    Sep 15, 2020

    Due to business constraint coursed by covid-19 economic effects

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  • Stephen    Aug 4, 2020

    Low income due to closure of schools caused by covid 19 pandemic

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  • Janice    Jul 26, 2020

    He has adjusted his loan account as earlier told him and for this week payment he has requested to pay next week. Thanks.

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  • Stephen    Jun 30, 2020

    Low business income due to covid-19

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  • Janice    Jun 26, 2020

    I have advised Stephen to continue paying his weekly instalments on time to maintain his positive on time.Also to update his lenders accordingly.

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  • Stephen    May 11, 2020

    Business has paralysed due to covid 19 pandemic. As soon as business gets back to normal i will continue paying my loan comfortably

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  • Janice    May 11, 2020

    Stephen is willing to settle his loan soon post corona pandemic as he will be able to sell his stock comfortably.

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  • Janice    Apr 9, 2020

    I've talked to Stephen today and he said that his business has gone down,hopefully it will soon change positively. Thank you.

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  • Stephen    Mar 17, 2020

    Financial constraints due to corona virus

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  • Stephen    Feb 10, 2020

    Business low returns at the moment

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  • Stephen    Dec 27, 2019

    Business constraints

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  • Stephen    Nov 27, 2019

    Low business returns at the moment

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  • Stephen    Oct 15, 2019

    Little profit at moment

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