Add more clothing stock and create more employment

Kinya Edith

Meru, Kenya

9% repaid

Entrepreneur

Name

Kinya Edith

Member since

March 2014

On-time repayments

321 installments  •  8%

About Me

I am Edith Kinya Mugambi. I am currently pursuing my degree in Education, after graduating with Diploma in the same. I decided to better my education because of a stiff competition for teachers. I have a small boutique which helps me with day to day survival and sometimes supplement my education fees. I depend on my parents entirely for education needs. I have employed a former classmate and look forward to employing more unemployed people. I am looking for money to expand the business. For instance, I look forward open a second boutique which I will employ some guys to run it.

My Business

BOUTIQUE BUSINESS (Clothes selling)
I opened the boutique at Chuka University. This was after I did the analysis and found that students needed cheap clothes. My target is now to open more boutiques and help reduce unemployment. I intend to Open a $250 boutique at Chogoria market.

Current business has grown from a $150 input to roughly $250, at the current state. This increase was after a period of two years since it was opened. I managed to stock my business with the $150 lendered in my first application. I am looking forward to stock it further with trendy and recent fashions before starting on a future plan to have more boutiques in different centres in our area.

Loan Proposal

Dear honorable lenders, I really appreciate the assistance that you are offering to developing Zidisha community borrowers, more especially to me. You really have made my business progress above my expectations. Now that the business is growing, I am happy to inform you that I expected that I will have only one assistant, instead, I have two workers and they are happy for the employment opportunity I have offered them. The situation is promising that I can create job opportunities although in small scale. I look forward to adding more new and decent clothes that are being appreciated around here. I must say that my customers are requesting for more than I had anticipated thanks for your assistance. In the future time, depending on the progress which I am positive of, I will start having the boutique branches that will create employment and satisfy the customers' demands. Thank alot for the assistance that you have already given me. I ask this fundraising and promise not to disappoint you. Thank you.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$488.87

Date disbursed

Sep 2, 2014

Repayment status

Late

Projected term

70 months

Cost to entrepreneur

Lender interest: $488.87 at 8.83% annual rate over 70 months = $251.53

Service fee: $102.91

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