Great community which will assist me to expand my business and sustain my family
Millicent
Kibera, Kenya
37% repaid
Entrepreneur
Name
Millicent
Member since
January 2014
On-time repayments
36 installments • 6%
About Me
I am the first born in a family of two siblings and I am a single mother with 2 children who are both attending school at a local community school.
I have successfully completed a diploma course in community development and currently I am working with a local NGO working in Kibera. I have also botiuque business which has been in operation for the last 2 years. I have employed a young lady who usually manage day to day activities of the business.This business supports my family and I intend to expand and introduce new stock.
My Business
My boutique business is based in Kibera and it was started two years ago. I have employed a young lady who is incharge of the day to day operation. My business involves buying and selling of women clothes. My clients like my business because my employee has good customer care skills and also we stock latest design which ladies in our community like but the biggest challenge is limited capital to expand the business thus lossing a lot of customers. My monthly average sales is kshs 45 000 and monthly expenses is kshs 35000 and average profit is kshs 10 000. I use part of the profit for saving to expand the business in future.
Loan Proposal
Great lending community which will assist me to expand my business and sustain my family because with the loan I intend to purchase casual dresses for kshs 3500, fancy tops at kshs 4000, jeans trousers at kshs 4000 and clothes hangers for kshs 500. This will enable me to meet my customers taste and fashion hence increasing my profit margin. I will use part of my salary and savings to repay the loan because I want the business to grow into a large boutique shop hence also in future to support other business people who have limited capital.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$150.00
Date disbursed
Feb 3, 2014
Repayment status
Late
Projected term
8 months
Lenders
Austin, United States
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