Entrepreneur
Name
Margaret
Member since
May 2017
On-time repayments
34 installments • 97%
About Me
i am margaret i was brought up by standard parents will little income my role model was my mother who used to do manual jobs to subsidize for our school fees. Due to her commitment she raised and educated 8 children with support from my father who earned very little. Out of her struggle i wished to be able to do better for myself and other women. I got motivation to start business from a very unlikely source since i was introduced to selling African fabrics from someone from Nigeria by online contact and through his motivation i have now established a small shop.
my daughter would like to be a designer and another loves writing. I wish to build my business to an international recognition and also to motivate other women in our community to be financially independent. I have always admired fashion and clothes but i have noticed in my country that people prefer dressing in foreign attire, I would like to change that by introducing all type of attire made from african fabric which is much more friendlier to our environment with is quite hot all year round. I hope to get finance to achieve this goal and change our perception to african fabric and designs.
My Business
My bussiness is selling african fabrics and clothes on wholesale and retail. I wish to sell at very affordable prices in order to satisfy clients from all walks of life. I subsidise my business with my income from employment which is not enough as i would like to do full time business. I require sewing machines for making dresses and other items.
whatever I get from my business i re-invest and also pay school for my young daughter
I wish to purchase lace fabrics at a cost of $2 per piece for 100 pieces. I will then sale at $5 per piece and make a $30 . I chose this business because it has always been my passion to become a fashion designer though I did not make it due to financial problems as I grew up. I would like to realize my dream and also introduce my daughter who has finished her forth form.
Loan Proposal
Dear lenders,
Happy new year. I am glad to be able to communicate with you this new year. I am requesting for a loan to buy some additional fabrics and a cost of $250. The fabric will be 25 pieces of 6yards each at a cost of $100 per piece I with then market at a price of $150 per piece and expect a profit margin of $125 in total. The benefits acrued from this sales will go into college fees for my daughter who has just completed form four. also my products will benefit the community as the fabric which is african cotton will be friendly to our climate which is generally humid.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$223.00
Date disbursed
Feb 20, 2018
Repayment status
On Time
Projected term
2 months
Other loans
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Germany
United States
Australia
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Sweden
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Ask Margaret a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.
guenter Oct 4, 2018
JimVandegriff May 1, 2018
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