Entrepreneur
Name
Justin
Member since
September 2014
On-time repayments
161 installments • 37%
About Me
I am the first born in a family of seven, an accountant at Bidii Investments, and a clothing business owner.
Growing up in a family of seven inspired me to work hard in order to help in supporting the family. As a child, I always dreamt of owning a business. Achieving this dream was not easy, but through personal savings I was able to set up a clothing business.
My hobbies include reading newspapers, magazines, and novels, and also socializing.
My Business
My business entails selling new clothes at retail prices after acquiring them in bulk from wholesalers. Even though over the years there has been influx of secondhand clothes in the market, many people still prefer buying new clothes.
I chose to venture into this business due to a gap which existed as a result of a lack of businesses similar to mine in the business locality.
My typical costs include:
rent -$67
employees wages- $78
transport cost- $56
water and electricity bill- $22
revenue-$222.2
Most of the profits the business generates are usually re-invested into the business.
Loan Proposal
If granted the loan, l will buy:
- new trousers worth ksh 7,500
- Jumpers assorted worth ksh.10,000
- ladies' dresses worth ksh 2,500
- towels worth ksh.3000
- shirts worth ksh2500
- panties and boxers worth 3,500
With this increase in stock, I was able to generate an extra profit of ksh.5000 per week . Hence, will re invest the profit to reconsider another outlet in future
Income Source
since i have another per time employment of ksh.20000 per month am confident that i will be able to pay confortably.
At the moment the climate is cold so i expect customers to buy more jumper to prevent them from this cool climate.
My business has grown for a period of time and given the profit i make per week i will comfortably pay the loan without struggle considering your loan as lower interest rate compared to other lending institutions.
Given this opportunity i will promise to stick by the deadline of each installment
About Me
Am a first born in a family of seven, an accountant at Bidii investments and a clothing business owner.
Growing up in a family of seven inspired me to work hard in order to help in supporting the family.
As a child i always dreamt of owning a business, achieving this dream was not easy but through personal savings i was able to set up a clothing business.
My hobbies include reading newspapers, magazines , novels and also socializing.
My Business
My business entails selling new clothes at retail prices, after acquiring them in bulk from wholesalers.
Even though over the years there has been influx of second clothes in the market, many people still prefer buying new clothes.
I chose to venture into this business due to a gap which existed as a result of lack businesses similar to mine in the business locality.
My typical costs include: rent -$67
employees wages- $78
transport cost- $56
water and electricity bill- $22
revenue-$322.2
Most of the profits the business generates are usually re invested into the business.
Loan Proposal
If granted the loan, l will buy:
- new trousers worth ksh 7,500
- Jumpers assorted worth ksh.10,000
- ladies' dresses worth ksh 2,500
- towels worth ksh.3000
- shirts worth ksh2500
- panties and boxers worth 3,500
With this increase in stock, I was able to generate an extra profit of ksh.5000 per week . Hence, will re invest the profit to reconsider another outlet in future
Feedback
Positive
None
Neutral
None
Negative
None
Loan Info
Project Type
Classic Loan
Disbursed amount
$285.00
Date disbursed
Aug 25, 2020
Repayment status
Late
Projected term
7 months
Other loans
Lenders
Gold River, Canada
New York, United States
Norway
Germany
Saudi Arabia
United States
Guildford, United Kingdom
United States
Australia
Ask Justin a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.