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
If
given the loan l will use it to increase the stock in my stall 50 US
dollar to buy traditional clothes that are on high demand at the moment
due to the inter university cultural day that is coming up in a months
time, 30 US Dollars will be used to buy ladies clothes that a first
selling 60 US Dollars will go into bringing in new male and female shoes
and the rest 10 US Dollars l will use to pay the insurance just in case
of any unforeseen risk. The profit l will get l will make will go into
repaying the zidisha loan and the rest will help me clear my school
fees. Thanks to zidisha community in advance.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$46.00
Date disbursed
May 27, 2014
Repayment status
On Time
Projected term
2 months
Other loans
Lenders
Austin, United States
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