Dresses and braids for my beauty shop and boutique

Samuel Mwangi

Kitale, Kenya

100% repaid

Entrepreneur

Name

Samuel Mwangi

Member since

September 2017

On-time repayments

173 installments  •  54%

About Me

I have been raised to with hardships from childhood. My father did not have a formal income during our upbringing. I was born in a family of five, two brothers and two sisters.

My parents used to pay just a fraction of my school fees forcing me to have frequent absenteeism from school. It is only by grace that I managed to complete primary school.

I enrolled in a mission day high school. Even in high school i was absent in most of the times due to lack of school fees. I used my part time to work and raise school fees.

I worked for a chain store after graduating from high school. I worked for three years to raise my university fees which I joined in 2014 to study business and economics online.

After graduating in 2016, I started a cosmetics venture with the savings I had made. My cosmetics business is fairing well. However, I want to expand it to create employment for the needy.

I have chosen cosmetics business because it targets ladies. Also, ladies like beauty products so they can provide a good market for my business.

I have employed a single mother to enable her raise her children from the salary she gets from my business. I want to impact on more needy people like her.

Also, I am supporting an orphan with school fees. I would like to empower youth through creating employment for them.

My Business

I sourced the capital for my current business from my past savings. I deal with beauty products and boutique.

These products are always in demand because ladies provide a great market owing to their behavior of going with current fashion.

I raised 130 US $ in my last loan which has helped me to grow my cosmetics business. My budiness is worth 3000 US $.

I need to raise 400US $ to grow my business by increasing stock and generate more profits for my growing demands. Also, I will use the profits to create more employment for the youths.

I currently have190 US$ and intend to raise 210 US$ through Zidisha. I have hired a youth who assist in running my business and she is able to save for her future from the salary that I pay her.
- I will buy braids and weaves because I have realized that they are in demand.

I intend to buy twelve types of hair weaves each two pieces at a cost of 70US $
-I will buy braided artificial hair 400PCs at a cost of 100US$. Braids are always on demand and
therefore I need to stock them well.
- I will spend 20US $ to pay for transportation of that stock.
- will spend 20 US $ to pay for business license.
I expect this loan to boost my business profits by 35%

I wantto help other people in our community develop economically by creating more employment.

To achieve this, I will use profits from my business to enlarge it so that I can create more employment for the youth.

I will also spend Part of my profits to pay for an orphan school fees.

Loan Proposal

I have an assistant in my business; a single mother who can now raise her children with ease thanks to the salary I pay her from my business.

I intend to raise 130US$ to buy my business stock, pay for transport, rent, license and transportation of purchases.
- I will buy 6 dresses each at a cost of 5 US$ each.
-I will buy 5 PCs of weaves at a cost US$ 6 each
- I will buy10pcs of ladies chains at a cost of3 US$ each
- I intend to spend10S$ on transportation of bought stock
- I will spend 10 US$ on business permit.
-I will spend 10$ on business lighting costs.
-I will save the remaining 10 US $ to cater for miscellaneous arising from operation costs.
I am motivated to help other people as a way of giving back to my lenders.

To achieve this, I will use profits from my business to enlarge it so that I can create more employment for the youth.

Also I am supporting an orphan with his education school fees. I intend to spend Part of my profits to pay for this orphan school fees.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$128.00

Date disbursed

Jan 5, 2018

Repayment status

On Time

Projected term

17 months

Lenders

C

CThelper

Guilford, United States

A

ashtanga99

Newport, United States

L

LeegleechN

Sunnyvale, CA, United States

Hype1

Ashburn VA, United States

C

creightonr

Buffalo, United States

Christopher

Copenhagen, Denmark

MichaelOsburg

Hochheim, Germany

G

gregc

Calgary, Canada

D

DelapierceD

New York, United States

O

OrientExpress

Tokyo, Japan

F

financiali

United Kingdom

bb4dogs

United States

C

Crainster

Chapel Hill, United States

S

Stephan

Netherlands

MZ

Matt Zirwas

United States

WH

Walter Hill

United States

Kevin

San Francisco, United States

Thomas

Sweden, Sweden

JC

Justin cohan

United States

B

Boris

Bern, Switzerland

JB

John Brown

United States

BR

Bob Reus

Netherlands

CR

Christopher R

Denver, CO, United States

RB

Ruth Brown

United States

Bill Ballew

Kansas City, Missouri, United States

Stuart

London, United Kingdom

JA

Joshua Axtell

United States

VC

Victor Chong

United States

GB

George Bohlender

Kuala Lumpur, Malaysia

M

Mack

Harbor, Oregon, United States

R

RMIM

United States

MM

Mike McGary

United States

Paul Buchheit

Mountain View, United States

SS

Sandi Smith

Pimpama. Queensland, Australia

TL

Tao Luo

United States

SF

steven frank

United States

United States

H

Haley

United States

Daniel Toke Hansen

Copenhagen, Denmark

DR

Diana Rose

United States

MH

Matt Hodges

United Kingdom

Marcelo De Polli

São Paulo, Brazil

Remo

Switzerland

SC

Samuel Clemente

Brooklyn, United States

ET

Emma Turner

United Kingdom

B

Ben

United States

E

Eva

Montreal, Canada

Ask Samuel a question about this loan project, share news and photos of your own, or send a simple note of thanks or inspiration.

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