Additional stock for my online shop

Entrepreneur

About Me

I am the last born in a family of 6 and was brought in rural Kenya.
I am a trained chef which has been quite useful in helping me run my business. ,i like to travel and go hiking. Our country has some of the best parks in the world.
I am also engaged in community work and work together with my local church to reach out to the less fortunate in the rural area

My Business

My business is registered as a sole proprietorship since 2015.Its very simple and straight forward, i import watches from china and resell them at a profit.

My target market are young Kenyans between ages 20-45 , they are tech savy and internet services are available in all major town s in the country. hence its easy for customers to find my products using their smartphones, personal computers or cyber cafes,
My major expenses are the purchase of stock and shipping. The online store fulfills orders made on my behalf. However they take a commission on the sale .Most of the profit i get is re invested in the business.
I intend to use the loan to top up my savings so that i can purchase more stock with a wider variety, to include ladies bracelets, earrings and necklaces.
My plans for the near future is to improve on the variety of the accessories and also open a brick & mortar store so as to reach a wider market.

Loan Proposal

I will use the loan to top up my savings and buy more stock. Since i started the business i have been buying one type of accessory-(Watches) but in future i hope to include new variety -such as earrings, bracelets and scarves as i get more funding.
The whole amount of the loan will go to buying ladies scarves which i will add to my stock of watches.
With the additional stock , and projected sales ,i expect my profits per month to increase by 30%.

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Loan Info

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