Increase inventory of shoes

Ann Kiratu

Ruaka, Kenya

100% repaid

Entrepreneur

Name

Ann Kiratu

Member since

August 2019

On-time repayments

76 installments  •  51%

About Me

My name is Ann. I am a graduate of Jomo Kenyatta University of Agriculture and Technology. I graduated in 2011 with a Bachelor in Purchasing and Supplies Management. From 2013, I have been working in various NGO's and while in the process, i decided to start my own business. I started off my business in the kitchen ware and clothing sector. However, I am now currently operating in the clothing and accessories niche which has over the time picked up.

I am an industrious business lady with a vision of growing my business and increasing my income. i'm passionate about business and i'm looking forward to grow towards achieving my personal business targets.

My Business

Previously, i have been dealing in kitchenware, clothing and shoes. After assessment of my business and reviewing the areas of my business that had the most impact, I have recently narrowed down my business to a women's clothing and accessories niche with a high concentration in shoes. I am currently concentrating on this niche because from experience, the demand from women for these products is high.

Re-strategizing my business has had a positive impact as i have been able to have one area of business to concentrate on and thus been able to meet my client's need. Since my business capacity is small at the moment, i am currently reinvesting the profits i get back into the business in order to grow. I am in the process of increasing the stock levels in my business and getting a loan will help boost my business as the Kenyan market is now opening up. If i get a loan, I will be able to increase the stock and thus serve more customers and this will increase the sales levels per week and this sales turnover will help me to repay a certain amount weekly towards the loan that I will be advanced with.

Loan Proposal

I will use the money to top up the money i have to increase the stock levels of shoes in my business. I am currently running out of some shoes sizes and due to the demand, there is need for me to increase my stock to cater for this demand. Going by my current weekly sales, I will be able to manage to settle the weekly loan repayment.

Income Source

I was previously dealing with a range of products in my business. However, i have restrategized my business to now concentrate in the clothing and accessories niche. From my business experience, i have been able to make more sales in this niche and the demand for this line of business is continuously existent. As a way of coping with the current economic climate, I have identified how my customer's needs have changed and also monitored the spending habits of my clients. With this, I have been able to avoid dead stock and even with the covid pandemic and lock down affecting businesses, I was able to continue operating my business as i have additionally adapted to also online selling of my products as a way to compliment my shop. With the weekly sales i am making, i am confident i will be able to pay the weekly installments without fail.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$59.40

Date disbursed

Oct 15, 2020

Repayment status

On Time

Projected term

4 weeks

Cost to entrepreneur

Service fee: $5.37

Credit risk payment: $5.37

Optional expediting fee: $8.06

Lenders

Scotts5320

New York, United States

Paul Buchheit

Mountain View, United States

LM

Lee Montecucco

Washington State, United States

Gandalf

Australia

EA

Eric Albert

United States

RT

Ravi Taxali

Markham, Canada

A

Anonymous

United States

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