Purchase stock for my hairdressing business
Chepngeno
Nakuru, Kenya
100% repaid
Entrepreneur
Name
Chepngeno
Member since
May 2015
On-time repayments
62 installments • 56%
About Me
I grew up in Nakuru County. Life was not that easy after my secondary education, though I managed to get a sponsorship to pay my college fees.
The idea of becoming an entrepreneur and selling cosmetics came into my mind when I was a student. I didn't have any pocket money and so I thought that, if I could start my own business, I would be able to pay for such things as transport, clothes, cosmetics, and lunch.
As my business grew, so too did my passion. From the time I was in college up to now, I have relied on my business to provide me with anything that I need and want.
My goal is become a good role model for other businesswomen. I love reading a lot and in my free time I enjoy watching soccer with friends.
My Business
I started my cosmetics business 2 years ago while in college. So far, things have gone quite well. I have customers from salons, colleges, and other institutions where there are a lot of ladies.
My biggest challenge right now is that sometimes my business can be seasonal. In the future, I would like to sell my goods on wholesale prices and to own a big beauty shop in Nairobi.
I noticed that my clients have difficulty in getting sandals and handbags, products that are readily available where I buy my cosmetic products. I intend to capitalize on this opportunity by buying sandals and handbags and bringing them to Nakuru and stocking them in my cosmetic shop. My clients will thus be relieved of the hassle involved in looking for these products and will also get goods of higher quality. On a good day, I earn $30 and when things have gone haywire, I raise $7 daily. I use the profits generated to add more stock to my business and save the rest.
Loan Proposal
I will purchase stock for my business
Weaves Ksh. 4000
Braids Ksh. 2000
Cosmetics Ksh. 4000
Total Ksh. 10000
This loan will help increase revenue in my business meaning i will sell more. my family life will also improve.
About Me
I grew up in the Nakuru County. Life was not that easy after my secondary education.Though I managed to get a sponsorship to pay my college fees.
The idea of becoming an entrepreneur came into my mind when I was a student. I didn't have any pocket money and so I thought that if I could start my own business, I would be able to pay for such things as transport, clothes, cosmetics, and lunch.
As my business grew, so too did my passion. From the time I was in college up to now, I have relied on my business to provide me with anything that I need and want.
My goal is become a good role model for other business women. I love reading a lot and my free time i enjoy watching soccer with freinds
My Business
Apart from operating a beauty and cosmetic shop I make and sell bags made of beads. My intention is to expand the business and also to include shoes/sandals in my business because I have noted that this will increase my customers.
I am proud that I am making money from items that I have made myself!
What drove me to open the business is to generate income. Since my husband died i was left as the only breadwinner so i had to open a business inorder to support my children and ensure that they go to school. My biggest challenge is capital and sometimes there are low seasons in this business. But in a good month i make profits of around $ 80 - $ 100 from this business. The proceedings go straight to buying materials to expand the business more.
Loan Proposal
I will purchase stock for my business
Weaves Ksh. 4000
Braids Ksh. 2000
Cosmetics Ksh. 4000
Total Ksh. 10000
This loan will help increase revenue in my business meaning i will sell more. my family life will also improve.
Feedback
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Loan Info
Project Type
Classic Loan
Disbursed amount
$105.00
Date disbursed
Dec 10, 2015
Repayment status
On Time
Projected term
8 weeks
Other loans
Lenders
Fontvielle, Monaco, Yemen
Taiwan
United States
Hong Kong
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Summary
Amount repaid
$110.38
Amount remaining
$0.00
Date repaid
Jan 31, 2016
Status
Fully repaid
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| Dec 20, 2015 | $2.00 | Dec 18, 2015 | $2.00 |
| Dec 27, 2015 | $2.00 | Dec 28, 2015 | $1.60 |
| Jan 3, 2016 | $0.40 | ||
| Jan 3, 2016 | $2.00 | Jan 3, 2016 | $2.00 |
| Jan 10, 2016 | $0.10 | Jan 3, 2016 | $0.10 |
| Jan 17, 2016 | $11.00 | Jan 10, 2016 | $11.00 |
| Jan 24, 2016 | $0.50 | Jan 27, 2016 | $0.50 |
| Jan 31, 2016 | $39.00 | Jan 28, 2016 | $38.00 |
| Jan 29, 2016 | $1.00 | ||
| Feb 7, 2016 | $53.78 | Jan 29, 2016 | $19.00 |
| Jan 31, 2016 | $17.00 | ||
| Jan 31, 2016 | $17.78 | ||
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