Entrepreneur
Name
Vincent
Member since
April 2014
On-time repayments
50 installments • 28%
About Me
My name is vincent .Am a student at Moi university west campus studying diploma in economics. I come from a family of four.Am the first born in my family. My siblings are in form two, class seven and class three respectively. My father is a teacher at a local primary school, while my mum is a farmer; due to this; they are unable to raise my school fees in full. My hobbies are traveling, reading novels and keeping pets. In the month of January l set up a stall around Moi University so that it could enable me raise money for my school fees. The business helps me to raise part of school fees.from the profits gotten,i pay some of my school fees,provide pocket-money for my siblings and the rest i use to restock my mitumba clothes.
My Business
My mitumba stall is located directly opposite the university gate. I sell both male and female clothes. In a month am able to raise a profit of upto to 200 US dollars. The money l get l use to pay part of my school fees and the rest l use as upkeep and day to day running of the stall. The greatest challenge as of now is competition from other established business in the same mitumba field and also the hiking of prices of mitumba bales., thus if funded ,l would be in a position to increase my stock and the quality of clothes that l sell this will attract more customers to my stall thus raising my sales. This way l will get enough money to pay my school fess and to repay the loan from Zidisha loan. Last week their was a culturals day competition at the university and the person who took the day was wearing cloths bought them from my stall thus the deman is on the rise. Im therefore facing the challenge of meeting their demands.
Loan Proposal
Am very greatful to the entire Zidisha community, and to the lenders if it were not you this great achievement could not have been realised. For this reason lm back again to make my second loan .
With my second loan l will buy a sewing machine, hire a proffesional person in opperating this will cost 250 Us dollars for the purchase and 100 Us dollars for the labour of opperating the machine.
The remaining amount will be used to increase the space since my stock has gone high and the customers number has since been growing.
Feedback
Positive
1
Neutral
None
Negative
None
Loan Info
Project Type
Classic Loan
Disbursed amount
$439.00
Date disbursed
Aug 7, 2014
Repayment status
Late
Projected term
10 months
Other loans
Lenders
Hong Kong, Hong Kong
Glasgow, United Kingdom
Shanghai, China
Ask Vincent a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.
Loading...