Name
Mercy
Member since
January 2018
On-time repayments
48 installments • 58%
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.
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.
I will use the money top up what I already have to get 4kg of Honey to replenish my stock. I will get the honey at and resell the same at 4800. I'll make a profit of 1400. This is a side business to supplement my income. So I source the orders. Once the order is confirmed I get it from a dealer of the same. I deliver the order and get paid.
Positive
None
Neutral
None
Negative
None
Project Type
Classic Loan
Disbursed amount
$1.00
Date disbursed
Nov 9, 2018
Repayment status
On Time
Projected term
1 week
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