Name
Tim
Member since
August 2016
On-time repayments
1 installment • 100%
I am Tim Sumba, firstborn in a family of four. I have a young family of one child and wife.
After passing highly in secondary education, i joined college to do Arts.
This is my passion and full time job. From the proceeds of this job, i run a small grocery shop to boost my financial status.
I draw art pieces and other designs. Thereafter, i sell them at competitive price. Right now, am operating on a very small house and the marketing is limited to social media.
I hope to get a loan here, however small or much to boost this business. I need to start an affordable website that i can be able to market my art works. This business is based more on referrals in order to expand my pool of customers.
I also need a bigger house which i can keep much more art work. It will also be partitioned to have a space for gallery where potential customers can sample a large variety of arts.
When I get the loan of USD 400, I will use it in the following ways:
• USD 100 to rent a new bigger shop in order to accommodate a large stock.
• USD 120 to buy a fridge where I can store perishable grocery items so that they last for longer.
• USD 165 to add extra stock of grocery that I don’t have. I will add;
ITEM DESCRIPTION QUANITY PRICE (USD)
Groundnuts 20 Kg 45
Grapes 10 Kg 50
Beetruit 7 Kg 35
Strawberry 3.5 Kg 15
Boost existing stock
Especially water melons
And bananas
20
TOTAL 40.5 Kg USD 165
• USD 15 to transfer my items to the shop.
Realizing this plan will make me grow and be stable financially. It will also enable me support my family and educate my younger brother who will be joining secondary next year (2017).
It will help others in many ways especially in this era of unemployment. I intend to employ some 5 youths who will be hawking the fruits especially water melon and banana in town to places like bus stages and garage where there’s high demand. At the end of the day, I’ll pay them by commission and with time, this will empower them to start their own businesses.
To my prospective lenders, having such a big stock will increase my profit by 72% every week. My profit will increase from USD 50 every week to USD 86 every week. This will be a massive achievement to me and the youths I will be working with. Also, this will enable repay the loan successfully.
Thank you. God bless you.
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Project Type
Classic Loan
Disbursed amount
$403.00
Date disbursed
Aug 22, 2016
Repayment status
On Time
Projected term
9 months
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