Entrepreneur
Name
Nnenna
Member since
December 2018
On-time repayments
46 installments • 28%
About Me
Exactly three years ago I began a small bead company out of my own home. Over the last year my business has grown significantly to the point where I now need to expand.
I am writing this letter to ask for a loan so that I can expand my business. I am very confident that there is a strong market for cloth diapers in Nigeria. I have many repeat customers and my client base is growing rapidly as word about my business spreads throughout the community. Therefore I am requesting the loan to help me with my business endeavour. This money along with the money I already have saved up myself will allow me to lease a modest storefront and to purchase all the paperwork supplies and equipment I need to launch the new space.
My Business
Customer Advances is a way I can generate my income source.
I insist on the customer making an advance payment before selling them goods or providing a service. This is especially true while dealing with large orders that take a long time to fulfill. This method also ensures that my business has some funds to channelize into its operations for fulfilling most orders.
Loan Proposal
I was able to buy more materials and also supply to my new and old customers. I also was able to open n account for my business and now I can make more funds available also for transport and easy access to customers. Thank you for the loan made available to me.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$332.00
Date disbursed
Mar 27, 2019
Repayment status
Late
Projected term
7 months
Other loans
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