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
How the funds will be used
I will use the funds to purchase inventory - tops
Currently my stock is low especially tops got few tops remaining.
I would like to bring in new fashion pieces that will attract more customers to my shop. Customers always want the latest pieces and having these items in stock is usually a plus. I want my clients to keep coming back for more items hence I have to keep my inventory fresh and up to date.
Estimated buying price – $4 each
Estimated Qty 12
Estimated profits likely to be realized are at $1 – $1.5 per top
The benefits I expect to realize as a result of these funds include:
I will have some more inventory and my customers will have a wider variety of items to choose from.
I will also have some of the latest pieces in the market.
The profits realized which are estimated at $ 12 to $ 18 will be used to buy more stock therefore increasing my working capital with at-least 3 to 4 tops.
An increase in working capital is great as it gives me more muscle to purchase inventory in future.
I will have the ability to pull in more clients with attractive pieces.
Feedback
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Loan Info
Project Type
Classic Loan
Disbursed amount
$50.00
Date disbursed
Aug 7, 2015
Repayment status
On Time
Projected term
3 months
Other loans
Lenders
Summary
Amount repaid
$52.25
Amount remaining
$0.00
Date repaid
Nov 3, 2015
Status
Fully repaid
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| Aug 16, 2015 | $5.00 | Aug 21, 2015 | $5.00 |
| Aug 23, 2015 | $5.00 | Aug 26, 2015 | $5.00 |
| Aug 30, 2015 | $5.00 | Sep 1, 2015 | $5.00 |
| Sep 6, 2015 | $5.00 | Sep 15, 2015 | $5.00 |
| Sep 13, 2015 | $5.00 | Sep 18, 2015 | $5.00 |
| Sep 20, 2015 | $5.00 | Oct 4, 2015 | $5.00 |
| Sep 27, 2015 | $5.00 | Oct 4, 2015 | $5.00 |
| Oct 4, 2015 | $5.00 | Oct 5, 2015 | $5.00 |
| Oct 11, 2015 | $0.00 | ||
| Oct 18, 2015 | $0.00 | ||
| Oct 25, 2015 | $2.00 | Nov 3, 2015 | $2.00 |
| Nov 1, 2015 | $2.00 | Nov 3, 2015 | $2.00 |
| Nov 8, 2015 | $2.00 | Nov 3, 2015 | $2.00 |
| Nov 15, 2015 | $2.00 | Nov 3, 2015 | $2.00 |
| Nov 22, 2015 | $2.00 | Nov 3, 2015 | $2.00 |
| Nov 29, 2015 | $2.25 | Nov 3, 2015 | $2.25 |
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