Entrepreneur
Name
Jimmy
Member since
July 2015
On-time repayments
52 installments • 40%
About Me
I am a Kenyan born and raised in the slopes of Taita hills first born in a family of three.Having challenges growing up including lack of school fees,proper clothing and going hungry sometimes and assisting my fellow siblings,drove me to start looking for cash at an early age.These challenges were a blessing in disguise because they helped me build my character to be a go getter,hardworking and strategizing on making life better for me and my family.I am currently employed however I do business on the side to meet some of my needs and make ends meet.This business has been in existence for the past 2 yrs now and has been growing significantly.Through this business returns I have been able to secure a 50x100 plot where am planning to establish a business structure of my own soon.
My Business
I deal with African accessories including bangles,earings and necklaces. I buy them at kshs 60 each and sell them at kshs 100 each...making 40% profits per item.The items pictured are the only ones remaining and the demand is overwhelming hence looking for cash to revamp my stock.This loan will be used to increase my inventory,pay some suppliers who have been supplying me with the products.
Loan Proposal
This amount will be used to boost my inventory. The items to be purchased include bracelets, necklaces and earrings.Each of the items costs usd 0.5 and retail at usd 1.0. With this loan i will be able to revamp my stock and profit margins are range from 80 - 100 %
Income Source
My business hasn't been affected much because I deal with small beauty items and I have already established a customer base. I have great demand for the accessories however I have not been able to meet the demand. With increased inventory I am able to meet the demand hence able to repay the loan without much hustle.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$10.00
Date disbursed
Sep 12, 2020
Repayment status
On Time
Projected term
1 week
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