Entrepreneur
Name
Mwamba
Member since
April 2019
On-time repayments
32 installments • 66%
About Me
My business involves lending people items and collect the funds after an agreed period. I have expanded by opening up a small shop for cosmetics
My Business
Buying and reselling food stuffs, clothes and household appliances. I have expanded and opened up a small shop for cosmetics
Loan Proposal
I will Press more orders to stock my shop. The orders will come from DRC through Kasumbalesa border post. The orders usually take seven days to arrive in Lusaka. Being the coming of the rain season, i expect some competitors dropping giving me more chances of getting sales and therefore more profit in the next 5 months. Also this same period, more investments will be required to invest in the other line of business that i am involved in, which is the food business. Food stocks are now going down in farms across the country. In addition, even the cost of the main food items will go up. This will present a very good opportunity for a good profit if more money is put in the business. Part of this loan will therefore, go towards the purchase of some food items and stock my shop. The food items in mind re dry onions, dry beans, maize grain, groundnuts and others that will be found in the farms
Income Source
I will use part of my monthly salary to pay as i am also in formal employment. It is expected that the sales, especially on cosmetics may not pick up in the next 2 months due to low liquidity in the economy as people divert some of the earnings into farming. This is the more reason i also want to put some money in the food business.
However, as indicated, i am a civil servant who is employed in the Government and i earn a monthly salary. My salary and my business do compliment each other. Therefore, if by the the 4th week i do not have money from the business to clear off the loan, i will use my salary to clear the loan.
My Videos
Mar 30, 2021: Mutale mwamba grocery business
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Loan Info
Project Type
Classic Loan
Disbursed amount
$58.00
Date disbursed
Nov 10, 2020
Repayment status
On Time
Projected term
4 weeks
Other loans
Lenders
Taiwan
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Kirk Moore Mar 27, 2021
Margaret Jan 5, 2021
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