Entrepreneur
Name
Caroline
Member since
July 2015
On-time repayments
182 installments • 75%
About Me
Hi my name is Carol. I'm the first born in a family of five. I have to brother's. I love working with fabric. I feel good when I make something beautiful from some piece of fabric.
Its a blessing to be able to pursue that which I love to do. Business isnt easy but doing something I love makes it easier to push on. something I've learned is that aside from. money one really need to have a deep passion for what they pursue. That way even when things get tough one is able to stick it through the tough times.
My Business
I mainly specialize in female African clothing. I love making African maxi skirts. I recently purchased a new electric machine that does more stitches. This is so helpful as I can now do a neat finish on the clothes. I was using a machine with limited stiches and that made it difficult to create a neat finish. This new machine is a step in the right direction. I would like to purchase some more African fabric so that I can make some more African skirts and dresses. I have a love for African designs and I look forward to building my brand. it's been a journey and I believe with every experience I learn and grow.
Loan Proposal
With this loan i would like to purchase some Africa fabric. I started making some long Africa skirts and my clients liked the long skirts. I would like to make some more but capital is sometimes tight. The loan will help me purchase some additional fabric that will go a long way in helping me produce the African skirts. I will top up some money and purchase some good stock of fabric so that i have a steady production.
I buy the fabric at $ 16 per 6 yards. That makes 3 long skirts that i sell for $15 each. I looking to purchase 6 pieces of fabric. That will cost $96. I will top up that balance. With 6 pieces I will be able to make 18 long skirts which when i sell i will make $270.
$270 - $ 96 = $ 174 (Profit)
Currently my monthly recurrent expenses are at $124.
This will go a long way in helping me cover my recurrent expenses and have some profit left over to reinvest back into the business.
Thank you for taking the time to read through my proposal.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$49.00
Date disbursed
Nov 16, 2017
Repayment status
On Time
Projected term
5 months
Other loans
Lenders
United States
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