Application for a loan to increase stock

Geofrey

Kericho, Kenya

95% repaid

Entrepreneur

Name

Geofrey

Member since

January 2017

On-time repayments

24 installments  •  63%

About Me

I was borne in the year 1990 in a village called Mogoiywek. I started my primary education in the year 1996 in Mogoiywek Primary School. After my primary education I joined Kaplong Boys High school in 2006. I finished my high school in the year 2009 and joined BCA College for my CPA Course.
All along I have been having a passion for nice clothes which are fitting and trending. When I finished my CPA Course, I started clothing business.

My Business

From my childhood, i have been having a passion for nice clothes. I sell Clothes ranging from men shirts, sweaters, blouses and skirts. These items are on demand because I am fashion conscious and I like to deal with the youths who are many and like my items.
My costs include cost clothes, salary for a lady helping me out in the shop, transport, licenses and taxes.
My revenues come mainly from sales of the clothes.
I use my profits to increase my business and support my subsistence costs.

Loan Proposal

I will add stock of five sweaters each costing Ksh. 150 and seven blouses each costing Ksh. 100. There is high demand because schools are closing for August holiday.
With these I will sell a sweater at Ksh. 300 and a blouse Ksh. 200. This will give me a total profit of Ksh. 750 in sweaters and 7Ksh. 700 in blouses.
This profit will help me expand my business and check welfare of my employee.
Thanks.

Feedback

None

None

None

Loan Info

Project Type

Classic Loan

Disbursed amount

$16.00

Date disbursed

Jul 25, 2017

Repayment status

On Time

Projected term

5 weeks

Lenders

Paul Buchheit

Mountain View, United States

PG

Paul Graham

United States

The Zinc Team

San Francisco, United States

Humble Bundle Community

San Francisco, United States

Lex Moen

Netherlands

Paul Buchheit

Mountain View, United States

A

Anonymous

United States

CN

Craig Newmark

United States

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  • Geofrey    Jan 25, 2023

    Hello dear funders. Thank you so much for your willingness to fund my business. This will provide the much needed cash flow to enhance my business liquidity. This will help me access stock which boost my business.
    Thank you very much.

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  • Geofrey    Jan 19, 2018

    Hi Lenders,
    The loan that I received last enabled me to add stock of men trousers, blouses and men shirts
    From the sale of all this stock, I earned a profit of $ 25.2
    This profit has helped me add more stock and employed one salesperson.
    Thanks so much.

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  • Geofrey    Jan 1, 2018

    Hi Lenders
    I have received a loan of $25.37.
    This will enable me to add stock of men trousers, blouses and men shirts.
    The profit I will earn will enable me add more stock and hence grow my business and employ some salespersons.
    Thanks so much Lenders. Be blessed.

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  • Geofrey    Dec 15, 2017

    Hi Lenders,
    Loan received. Thanks so much.
    This will enable me to add stock of men trousers, blouses and men shirts.
    The profit I will earn will enable me add more stock and hence grow my business and employ some salespersons.
    Thanks so much Lenders. Be blessed.

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  • Geofrey    Dec 1, 2017

    The last loan I took helped me add stock of 5 sweater and 7 blouses.
    When I sold them, I got a margin of $7.5 on sweaters and $700 on blouses.
    This profit has helped me expand my business and check welfare of my employee.
    Thanks.

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  • Geofrey    Aug 12, 2017

    The business is doing good and has enabled me to get back sufficient amount to clear my loan and some profits to plough back. I don't wish to hold money which would have helped someone somewhere increase his/ her business.

    Thanks.

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  • Geofrey    Aug 12, 2017

    Dear lenders,
    I received a loan of Ksh. 1,496 which I have used to add stock of 6 sweaters costing ksh. 150 and 7 blouses costing Ksh. 100. The projected profit is 100% which will help me in adding more stock and expand my business.

    Thank you so much for helping me expand my business.

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  • Geofrey    Jul 22, 2017

    Dear lenders,
    The loan that I have received will help me in adding stock of blouses and sweaters which when I sell will give me 100% profit.

    This profit will help me in adding more stock and expand my business.

    Thank you so much lenders for being there for me.

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  • Geofrey    Jan 23, 2017

    I am adding stock of sweaters both men and women.
    This will help me to satisfy my customers because that is what they have been asking.
    I thank all the lenders and promise to repay back the loan so as to help others and me in future. Thank you so much.

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