Entrepreneur
Name
Phenny
Member since
January 2015
On-time repayments
48 installments • 42%
About Me
My names are Clemence Chao. I am currently a credit officer with XPlico insurance LTD and also have a mitumba shop operating in town along River road. Am also a student with KEMU University doing my last year. I have always believed in owning a big business that would give me financial freedom. In future I plan to travel to china and other countries so as to bring valuables for sale after I gain financial muscles. Also from the business so that I can raise funds to do my masters.
My Business
My main source of income is the salary I earn from my work place. I opened my mitumba business 5 months ago so I am still naturing it so that it can grow and sustain itself in the harsh economic environment. So far so good. While I invested $ 1348.3 and out of this stock was $ 674.2 I have seen it grow to a stock of $ 898.9. I intend to plow back all proceeds to the business until its capital base is good enough.
Loan Proposal
with the loan i will get, I will expand the business by bringing in more stock of for sale. I will use the funds to specialize on the fast moving goods which are ladies clothes and baby shop.
I have a plan to move out of the stall to a bigger shop in the future and incorporate both new and second hand clothes. I also intend to bring men wear and shoes in order to expand my cost and accommodate all people.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Feb 9, 2015
Repayment status
On Time
Projected term
4 months
Other loans
Lenders
Southampton, United Kingdom
Germany
South Africa
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