28 weekly installments • 61%
My business involves lending people items and collect the funds after an agreed period. I have expanded by opening up a small shop for cosmetics
Buying and reselling food stuffs, clothes and household appliances. I have expanded and opened up a small shop for cosmetics
The loan i am applying for will be used to order more goods for my business. I will order more goods including trays of eggs, bags of rice, bags of irish potatoes, and more cosmetics. These items are on demand this period because of the lean period we are in. With the rising cases of Covid -19 in the country, stocking these items will give me more leverage as there will likely be restrictions in movement thereby triggering shortages of some of these items.
I will be able to mitigate the economic risk of my business by diversifying into more goods. With at least 4 types of goods, i should be able to sell some of the goods that would not be affected by economic shocks such as high inflation rate that is already being experienced in the country. Another way of mitigating these economic shocks is to order these goods in big quantities to last for a longer period of time.
Mar 30, 2021: Mutale mwamba grocery business
Jan 12, 2021
Cost to entrepreneur
Service fee: 5% of $599.08 = $39.31
Credit risk payment: $157.45