Entrepreneur
Name
Viola
Member since
April 2015
On-time repayments
173 installments • 3%
About Me
since my childhood i have been interested in making my own money through business,i always had a dream of owning a shop selling clothes on fashion which i was sure would bring in cash.i joined a youth group in which we contributed 300 shillings each weekly,it was not easy getting the amount but i struggled alot.with time we had saved enough to borrow business loan,the loan was shared equally among us.i then bought stock for my shop the business has been successful but adding stock has been my major problem since i have to pay rent and electricity bills for the shop.my shop is in a strategic position where campus students can easily access and they have been loyal customers.
My Business
i have been selling ladies dresses which are on fashion,most ladies these days prefer putting on dresses compared to trousers and with time i would like to add shoes to my stock.ladies are good at buying clothes especially those on fashion and thats why i chose to concentrate mainly on ladies dresses since they buy them anytime of the year.the shop rent has been increased and that has been my major challenge my revenue has always been my savings which are not sufficient since i want to grow my business .if i get money to add my stock i will sell more and will definately have enough money for my expenses and for repaying the loan.i have been using my profits to grow my business since i dont have a kid to take care of by now.
Loan Proposal
i want to buy new clothes for sell each dress will cost 4.5 dollars thats means i will add about 18 dresses.these dresses will each be sold at 16 dollars and that will earn a profit of 12 dollars per dress.this amount will enable me to repay my loan and get more savings.i will be able to sell unique clothes and of different varieties which will help me get more customers hence my business will expand.i therefore expect a 50% increase of profit to my business and this will enable me to add shoes to my stock also with time.if this loan is approved my goals in business will have been fulfilled since i will have the best clothing shop in town.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$73.00
Date disbursed
May 6, 2017
Repayment status
Late
Projected term
40 months
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