Capital to buy new stock of handbags

Lorna Kiyayi

Nairobi, Kenya

2% repaid

Entrepreneur

Name

Lorna Kiyayi

Member since

August 2016

On-time repayments

164 installments  •  52%

About Me

I am a graduate from Kenyatta university Kenya with a bachelor's degree in special education.Normally i would have pursed a job inline with my course but as fate would have it, i decided to follow my passion.I have a great interest in fashion and trends.I have previously worked as a sales person and a marketer and i discovered i had good negotiation skills and most times i would close my conversations with a sale.Therefore i decided to try selling women's handbags and alas the venture was a success.I have since sold more than 60 handbags this year.I do this by marketing myself online through my Facebook page.Moreover am working on opening an Instagram account to reach more clients.I do not have a shop and i am certain if i have one, it will be a great boost for my business as it will enable me to stock clothes and shoes.

My Business

I majorly sell women's handbags.They are a three piece collection in other words 3 in 1.I normally get them from a supplier who ships them in Kenya through Kampala.I have not been able to import the bags myself due to limited capital.
The bags are marketed online through my Facebook page, Bags Emporium where i engage with customers and henceforth do free deliveries.I also rely on whatsap to showcase the products and it has been a success for two years.
Apart from this, i do online academic writing and this helps me to sustain myself and would assist in loan repayment.

Loan Proposal

Hello lenders this is my fourth loan and I am really grateful. I am planning to purchase 40 three in one handbags at a total cost of $22 per bag. Since I don't have a strategic shop where my customers can come and purchase. I market the products via Facebook.For the advertisement, I will spend $200 to pay for online advertisement and branding. I will spend the remaining $398 for transportation and door to door deliveries. The profits I make for this venture will enable me to clear the loan on time.

Feedback

1

None

None

  • Allie    Sep 11, 2017

    Congratulations Lorna, on your business and making all repayments on time!

    Log in to reply • Share


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Loan Info

Project Type

Classic Loan

Disbursed amount

$1,457.35

Date disbursed

Jul 9, 2018

Repayment status

Late

Projected term

20 months

Cost to entrepreneur

Service fee: $61.40

Credit risk payment: $307.03

Lenders

BrassHat

Boston, United States

JonB

London, United Kingdom

GuillaumeTeissier

Montréal, Canada

J

jsbisa

New Orleans, Louisiana, United States

TyWee

Manila, Philippines

A

AER

Germany

Eugen Stamm

Zurich, Switzerland

Mary

Germany

Paul Buchheit

Mountain View, United States

Mark Rowlatt

Peterborough, UK, United Kingdom

petter

Finland

FP

Fred Pratt

United States

DY

David Yang

Vancouver, Canada

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