Completing new clothes order

Millicent Okumu

Marachi, Kenya

100% repaid

Entrepreneur

Name

Millicent Okumu

Location

Marachi, Kenya

On-time repayments

251 weekly installments  •  90%

About Me

I am a kenyan young woman and i went to school upto form four from there i have done jobs with contracts that do not last for more than three months at a time with the wages from these i have set up a clothes business. Occassinally i deal in cerals business as well and this is so bacause i mostly buy this produce from Bunyala which is located within Busia county this reduces transport cost thereby maximizing my profit.A loan of $850 would go a long way to boost my businessess if it can be approved.When need be i turn to friends and family for soft loans i cant go to the banks as there rates are too much for me.

My Business

I mostly deal with ready made clothes which i buy from Uganda as Busia is located at the border of kenya and Uganda, and occasionally i deal in used clothes as well at times i find my stock wanting and that is what i intend to do with the loan money that is to stock my business.my occasinal business in cereals(rice) from Bunyala can only be conducted when the prices are favourably as my economies of scale is low such loans would enable me increase the economies of scale and the combined proceeds of this two businesses will enable me to pay the loan comfortably i currently need about $850.

Loan Proposal

Being engaged in clothes business that i mostly get in orders around the festive season i have received orders that currently amount to Kes 52,000 and given my current credit limit i intend to utilize the given amount if granted to complete on this order and with the expected ruturns i will be able to repay the loan comfortably.Thank you.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$288.52

Date disbursed

Dec 10, 2014

Repayment status

On Time

Projected term

5 months

Cost to entrepreneur

Lender interest: $288.52 at 8.89% annual rate over 5 months = $11.13

Service fee: $6.27

Lenders

D

Delph007

Den Haag, Netherlands

investor

Candiac, Canada

J

JLewe

Atlanta, Georgia, United States

D

Davieboy

Melbourne, Australia

rwwilson75

mishawaka, United States

F

faical

Cologne, Germany

rodcul

Altea, Spain

E

elkbrett

Bradenton, United States

J

jjonas

berlin, Germany

ads68

Melbourne, Australia

Cricketca

San Jose, United States

isabelv

Barcelona, Spain, Sweden

Matthieu

Switzerland, France

Richard Griebe

La Jolla, United States

Evan Lamos

Brussels, Belgium

J

joliver

Vancouver, Canada

pvilliger

Zurich, Switzerland

Matching Fund

Sterling, United States

Paul Buchheit

Mountain View, United States

M

Michi

Switzerland

J

jdallatezza

United States

T

tiojoca

Portugal

J

jbhernan

United States

M

M.Umar

Pakistan

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