Increase stock for my knitting shop
Emmy
Eldoret Pipeline, Kenya
23% repaid
Entrepreneur
Name
Emmy
Member since
January 2015
On-time repayments
111 installments • 7%
About Me
I am aged 32 years old and married. I dropped out of school in form four for lack of fees as my parents who are peasant farmers could not afford.
I have been trying to start a cloth selling business shop but due to financial hardship I have not been able . I decided to begin knitting of which I have been doing for the past 9 moths with a bit of challenges.
We live in Eldoret Town together with my husband and have been married for the last one and a half years. My husband is an itinerant Preacher in an upcoming church. This business has been and remains our main source of income has my appeal for your support.
My Business
I decided to begin knitting business because not so many people are in it and the demand for the products is high. This are used mainly for furniture covering in the house.
The population in Eldoret is big and growing very fast due to the many institutions coming into it. All the products I produce from my knitting business are sold at affordable prices which attract a lot of customers . As a result of the population, their is a ready market which leads to high sales. Given the high demand for the products, the main challenge I have, is the low level of production due to lack of enough capital. My expense for production is as follows : one set wool is ksh.8800 This comes to $100 resulting in gross profit of ksh. 5200.
I normally distribute my profit from business as follows:- 10% to the church as tithe , 70% up keep i.e food and rent 5% , 15% support of my aged parents and this will also hep in servicing my loan. This loan will really give me a push to enable me stabilize in the business.
Thanks in advance for considering my loan application and supporting it.
Loan Proposal
Thank you lenders for giving me an opportunity to get the credit from you.Given funding I will use my loan to all the 100 us dollars to increase the stock for material i.e wool to enable me make more sweaters and sox to enable me sell more.
Otherwise be blessed I look forward for your support God bless you.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Feb 2, 2015
Repayment status
Late
Projected term
25 months
Lenders
United States
Australia
Jake Gibson and Beverly Picardo
San Francisco, United States
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