More braids and weaves inventory for my shop
Bonface
Nairobi Town, Kenya
3% repaid
Entrepreneur
Name
Bonface
Member since
February 2014
On-time repayments
77 installments • 34%
About Me
Hi.My name is Bonface N. Wachira a second born in a family of three kids born on October 24th 1990 to Mr. and Mrs Wachira who are both business people in Nakuru town.I was raised in Nakuru town Kenya from my childhood till the age of twenty when i left my home town for the capital city in search of higher education.I when through school from 1995 to 2009 when i finished my secondary education and passed with a B plus (B+) .After finishing my secondary education I took short coarse in business management and computer studies.I joined the university (Technical University of Kenya) in 2011 till 2013 December when I finished my diploma in Aeronautics engineering. While in the university i decided to venture into business to help my parents raise my school fees.I started a small cosmetic shop in 2012 and has since then been growing.After clearing school in December 2013 I have shifted my full attention to my small business.I have been using the capital raised from the sales of the business to buy more stock and pay my bills.
My Business
I own a cosmetic shop which majors mainly on beauty products which include Weaves, Braides, Perfumes and Sprays, Skin oils,lotions and solid oils and other beauty accessories. Beautiful is what everyone mostly women want to look,hence the demand for beauty products.While in the university i used to buy all these goods for other people who have their businesses in far away towns from Nairobi. That's how I came to know where to purchase my products from at a cheap price hence when i started my own shop i sold my products at a slightly lower price compared to my competition.This was a marketing strategy that attracted customers to my shop and has maintained them to my shop.With more customers coming to buy from my shop has seen the business make profits.At the moment the business makes a sales revenue of $ 1200 monthly,with a profit of about $ 400 minus operational cost of about $ 200 monthly.The major risk that my business faces is insufficient capital to invest with. I plan to use the loan I will obtain from Zidisha to invest more in my business and increase my sales hence the profits. Repayment of the loan will come from the sales made from the business.
Loan Proposal
Dear lenders I wish to first of all thank you for the support you have continued to show me.
Now as am in this next step i would be happy if you fund me once again.
I have budgeted to buy more varieties of hair products (specifically Abuja braids and weaves) for my shop plus other synthetic brands that i have come to learn from the way my customers have been requesting for them.I plan to use the money you will lend me plus some more I have in the business bank account to purchase this products.i have a budget worth US $ 750 i.e. US $ 550 from Zidisha plus US $ 200 from the business bank savings.
below is a breakdown of how I will use the money you will lend me:-
Braids @ US $ 450.
Darling weaves @ US $ 200.
Angles weaves @ US $ 100.
Thank you very much for trusting in me.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$497.00
Date disbursed
Jul 24, 2015
Repayment status
Late
Projected term
7 months
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