Amount to be used to purchase a new sewing machine

Entrepreneur

About Me

My names are Barthlomew ndirangu,a sixth child of a family of eight.I was born in the year 1988 and raised within nakuru county,bahati north district,wanyororo b village.I went to school at Osembo primary school and completed my primary level scoring good grade.In the year 2003 i joined st joseph secondary school but due to financial constrains i never completed my forth form abandoning while i was in my third form.I later en-dunged in doing manual jobs for my upkeep and to assist my ageing parents.Later in the year 2013,i enrolled myself in the tailoring cause from our local tailor joel maina who taught me various designs of making new and repairing clothes.After completion of the course which took out for a period of six months,I opened a small shop for my tailoring business having acquired a rented sewing machine from my teacher for shilling 1000 per month.The earnings that i get from my business are used to pay the rented machine,house and for may daily upkeep.

My Business

My business goes under the name of ndiragu fashion and design tailoring shop.Its located at the same apartment where i reside.I deal in repairing old clothes and also making of new ones.Within the the few months i have been into business i have been able to acquire a good portion of customers due to my favorable prices and quality services that i offer.Due to the growing population of our area and increase in price of ready made clothes among other factors,have lend to favorable condition into our business thus making the business to generate a profitable income.Currently the main risk am facing is luck of my own sewing machine since i use a rented one which reduces my profit margin and also posses a great risk to me in-case the sewing machines fall into calamities ie being stolen or goes into fault.My monthly typical coast is about 5000ksh and my sales revenue is about 10000ksh thus generating a profit of 5000ksh.(N/b this prices are estimates since they varies with different factors within t

Loan Proposal

The first amount given will be used to purchase a new sewing machine so that i may return to the owner the rented one.This will increase my profit margin as i will not be paying rented amount to the owner of the machine.Increase in profit will lead to me to pay my loan on time and this is one of the reason lenders should support me in acquiring the loan.

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