Entrepreneur
Name
Mercy
Member since
January 2018
On-time repayments
48 installments • 58%
About Me
As you know my business has been canvas bags and the last loan was to finance bag orders that I had, unfortunately, I had some emergency and diverted the funds. On the positive side the orders were not cancelled hence I will still supply the orders.
My Business
I have been only doing the bags business however most customers have mad enquiries for other ladies products like shoes, clothes, jewellery and other accessories. This has come from repeat customers I have decided to add these items to my business since my clients are asking for them and will increase my customer base. If I get funded ill build this business to be a one-stop shop from bags clothes jewellery and shoes for the ladies. Most of my clients are located outside the Capital hence they like the fact they don't have to travel to get the goods the can get them by ordering onlice and I send them as a parcel. To be able to make a profit I have to buy items at a certain minimum quantity from wholesalers and importers to be able to be accorded the wholesale price.
Loan Proposal
I topped up the loan for fixing my screen from the recent loan. I also need to get more honey in store because most customers prefer to pay at the end of the month hence in the middle of the month theres not much to buy new stock.
To also help support my inventory I have also decided to venture into cupcake making. I ALREADY I have talked to a shopkeeper who is nearby and has agreed to buy them from me hence I need money to buy ingredients and packaging for the first stock.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$36.00
Date disbursed
Nov 26, 2018
Repayment status
On Time
Projected term
2 weeks
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