Need a storage unit for my clothing business in support of orphans

Olfa

Kitengela, Kenya

100% repaid

Follow Olfa

How it Works

Entrepreneur

Name

Olfa

Member since

February 2015

On-time repayments

16 installments • 63%

About Me

My previous loan application was a success in which I had sought to build a shed where I would be able to sell second hand clothes so as to support the orphaned and vulnerable children that are in my care. The money generated as profit, I have pumped it back into the business so that the business can increase its capital base. For that I am grateful to the lenders that had faith in my project and through their help I have covered a significant milestone. Now, the clothing sales have continued to increase gradually and thanks to this I have been able to raise enough money to provide for these children. In this loan application, I seek to expand the shed because the one that I had built is not enough to store the bales of clothes and also sell during market hours. The problem that this creates is that I have to carry the bales of clothes to my house at times when the stock is more as the storage is limited. This means that I usually have to incur a transportation fee when ferrying these bales to my house, which can be quite costly especially when the services are provided by hand cart puller. I feel that if I expand the shed to include a storage area I would be able to save more rather than incur transport overheads, which I can also use to support the kids.

My Business

My business currently involves the sell of second hand clothes at a shed in our local market with the aim of earning a living so as too support the orphaned and vulnerable children that I have pledged to support. I hold these children with much regard because I feel that if I support them in any way I can, then they will be able to change their fortunes in future. At first I began by selling second hand clothes to my friends so as to make an extra income to support these kids but I saw an opportunity in building a shed at our local market so as to reach a wider market. Based on this, I applied for a loan facility here and I was given the opportunity to build a shed which would not have been possible were it not for the lenders that understood my vision. Now I seek to expand the shed because the one that I have does not provide enough storage space and I have to move the bales of clothes at night to my house because they they do not fit in the shed when I have plenty of stock. Once I have created more room, I would be able to minimize on some costs such as transportation costs or the ones that I incur at times when I have to store in a storage space that is within the market which attracts at a fee.

Loan Proposal

I intend to expand the shed that I managed to build so as to include a storage area as at times I have to rent a place so as to store my bales overnight or carry them them to my house if I do not get a place to rent for the night. Therefore, 70 dollars will go into the expansion of the shed to which I have also identified that there is a storage need for other traders. By expanding my shed, I will be able to also rent out overnight storage space for traders in our local market that come from other towns and also do not have sheds of their own. The remaining at least $35 I will use to buy an additional bale of clothes so as to boost my sales further. By expanding the shed, I expect to increase my profit by at least 30$ through the provision of storage space to other traders at a fee and also saving on the initial costs that I used to incur while renting overnight or transporting the bales to my house. This will go along way in supporting the orphaned and vulnerable children that I care for and also for myself because this business is my main source of income.

Feedback

Positive

Neutral

None

Negative

None

Loan Info

Project Type

Classic Loan

Disbursed amount

$100.00

Date disbursed

Apr 17, 2015

Repayment status

On Time

Projected term

2 months

Other loans

Feb 2015: $50

Lenders

Kitty

Hailsham, United Kingdom

Paul Buchheit

Mountain View, United States

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

Please log in to comment.

Isaiah Jun 26, 2015

Hello Lenders,

I tried reaching Olfa to know her situation but the call went unanswered.I will try again later.

Thanks
Isaiah

Log in to reply • Share
O
Olfa May 25, 2015

The area that I had built the shed was hit by floods that were caused by heavy rains and I have not been able to open the business for some time now. I am repairing the damages and I hope to clear my loan very soon. Regards.

Log in to reply • Share
Isaiah May 23, 2015

Hello Lenders,

I have talked to Olfa and she has promised to make a payment tomorrow and then reschedule her loan.

Thanks
Isaiah

Log in to reply • Share
O
Olfa Apr 27, 2015

I received the loan of $105 dollars and I have put it into good use. I have already bought materials for the building's expansion process as much as the rains are proving to halt the building process. Currently, I do not have a device that I can use to upload a picture but I will do so soon as I am in the process of acquiring one. Thank you.

Log in to reply • Share
Kitty Apr 16, 2015

Congratulations and good luck

Log in to reply • Share
O
Olfa Apr 16, 2015

First, I would like to thank the donors that have funded my project as this will go a long way in helping myself and some little souls out here. The loan that I have received will be of great help to me because I will be able to expand the shed that I currently have so as to increase storage. I will also rent out the same to the traders that have no storage space within our local market, which will help boost my business. I am elated by the news of receiving this loan facility because I will be able to improve the quality of my life and that of the orphaned children that I support. Thank you very much.

Log in to reply • Share
O
Olfa Apr 2, 2015

The first loan that I received has had a significant impact on my life as I am now able to fend for the orphaned children and myself more. The loan helped me in setting up a shed/stall where I am now able to sell clothes at our local market as compared to the way I used to do it initially which was through hawking to friends. I also used part of the funds to add the stock for my business and it is now doing quite well. The profit I am making is not 100% but it is enough because I make at least 18$ profit for each bale I sell. One bale I buy at least 35$ and I can now afford to buy more bales through the profits that I have been making. For the Easter holidays, we intend to spend time at our local church with the children where we intend to have fun activities and games since the children have closed school. It will be a good time where the children will share experiences with each othr and encourage one another. We are also planning with an NGO to come and give a motivational talk to them as to encourage on the importance of having upright and what society expects of them. This we have managed to plan in collaboration with our local community and it is my hope that it will be a success and impactful to the children.

Log in to reply • Share
O
Olfa Mar 9, 2015

I did not anticipate that the funds would have such an impact in my life and that of the orphaned children, but am glad it has. The shed that I built is very accessible and I spend most of my working days there. The children are happy because they can now buy books and some supplies that they need for school and a few other items. Am glad to report that the business is doing good and is impacting those it intended to reach in the best way possible. Thank you to my lenders and it is my hope that it grows more.

Log in to reply • Share
O
Olfa Feb 10, 2015

I have hit the ground running and I could not wait to share the news of the funding that I have received with the kids. They are really appreciative and I hope to build the shed in two days then I should be able to go for the additional clothing bales that I intend to sell. This opportunity has come at an opportune time, I will share more of my progress soon. Much regards.

Log in to reply • Share