Entrepreneur
Name
Faith
Member since
May 2014
On-time repayments
43 installments • 70%
About Me
I have been searching for a job for a long time, though on and off. I graduated with a Bachelor's degree in Economics and Sociology in 2012. I kept myself busy through online writing. I love writing and I do not struggle to describe a product for a client or discuss an upcoming issue. But the problem with these jobs is that the stream of income could be quite unstable. sometimes the season is off and depends on whether the client is making enough money. It also takes a lot of time in a day. So i thought, I need something that will take less time, it will grow with me and allow me to do many things at the same time. During Christmas, my mum brought me extra chicken and since she left way before the day, i decided to sell some. I sold two of them for 1800 shillings. I decided to keep other four (got them for about sh.700) and later sold them for sh.3100. Then i thought, I have space in my house, how about i go large scale with a patience of four months? in the meantime, I could be selling second hand clothes for working ladies in the neighborhood.
My Business
Currently, I do online writing and a month ago i started selling official-wear for ladies in the neighborhood. I do not have a stall, so i rely on friends for referrals. Mostly i do this in the evenings and weekend when they are out of work. The running costs are low but the business is not as fast because am starting up. however, income from my writing goes a long way it even pays my rent. I need this loan to expand my poultry business since it is very promising. Then i can use the money from these two other sources to repay the loan as i wait for maturity period of the chicken. I also intent to use the second and the third loan to expand the clothes business into buying in large-scale(bales) since i have someone who has a ready supply. So the loan goes into chicken business. money for repayment will be obtained from second-hand clothes business and online writing.
Loan Proposal
I will use the loan to buy chicks because currently i only have 8 chicks.
I will use $90 to buy chicks since i have already made the structures and the rest for buying feeds on top of the savings that i have.
I need this loan because it may take a long time to accumulate savings yet i have a ready market waiting for the chicken. After selling the first lot I am confident i will get more than three times of the input that i put into the business. At the same time, I will be able to expand.
I will use other incomes from second-hand clothes and online writing to repay the loan.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$150.00
Date disbursed
Jun 24, 2014
Repayment status
Late
Projected term
10 months
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