I will use the loan to buy materials and vitenge
Mwatime
Nakuru,kaptembwa Slums, Kenya
100% repaid
Entrepreneur
Name
Mwatime
Member since
February 2014
On-time repayments
249 installments • 57%
About Me
I am Mwatime Ibrahim,I live in Nakuru kenya, I am a single mother of four children, I am also a christian who was converted from Muslim family and I am proud to be in the army of God.
I was born in Meru Timau but now I live in Nakuru with my children.
I schooled my primary Education at teleswan Primary school and later joined kirige High school.
I work with Royal saints schools which is a school for orphans as a volunteer worker and Cradle of Hope mission as volunteer too.
while at the school where I volunteer to help children, I also do business of selling Vitenge or materials from Uganda,Tanzania and Mombasa as my source of income to help my children fees and upkeep since I am a single mother.
My passion as a woman is to do business to help my children and this is the reason why I decided or started Business as the source of my income.
my Loan I will use it to purchase some vitenge from Uganda and Tanzania and distribute to my customers because most of them they order them and if I don't receive any order I could go office to office and school to school to look for order and once I have the order, I could go get the goods and supply to them at a good price to keep them.
I could by one kitenge at kshs650 and sale it at kshs1250 depending with agreement between the buyer and the seller.
My Business
My business is of selling vitenge from Uganda,Tanzania and Mombasa,most of my customers do make orders,so I could go by myself and select the best colors that my customer like so much.
My business could give me a profit of ksh800per one kitenge if I sake 10 pieces I could make kshs8,000 per month,mostly I collect the funds monthly because that is when most of them receives salaries.
regarding my business demand is high because most of people that Ideal with are women, they love vitenges because they are a symbol of African culture, it is on demand if I get good capital I can make more than ksh20,000 monthly as a profit, this is because I will not worry about the stock because I will be able to serve anyone that comes with her or his order.
regarding asking for lenders to help me through their loans, I will be able to achieve my dreams and will help my family as a single mother to even help pay for my children school fees especially now that I am preparing to take one to form one next year.
Approximately I do make 8000 a month a my profit beside the expenditures.
I will be very comfortable paying this loan when granted the chance to be given the loan, I will pay through my profit I make through the selling of vitenge and materials I sale.
Loan Proposal
My loan I will use to buy some Vitenge materials from Uganda and Tanzania, since many people love African attire I will use this opportunity to add more stock to what I have so that I can be able to meet the needs of my customers, many of my customers love the vitenge from Uganda and others love from Tanzania. each peace costing kshs700 I will be able to sell it at ksh1250 per piece and some other pieces that I buy at ksh1200, I will sell it at ksh2800 and this gives me 100% profit.
upon receiving this loan I will make sure I bring the best quality to keep my customers, this will help me reach my goal of opening a shop but currently i do take around the material to offices and schools,but I believe upon having a big shop for the materials and vitenge will help my customer to come at my place and get the goods.
every week I usually make a good profit and when a month ends, I would have made ksh12,000 as profit minus every expenditure. I am very sure I will be in position to repay the loan and take another loan to expand my business.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$150.00
Date disbursed
Feb 25, 2014
Repayment status
On Time
Projected term
3 months
Other loans
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