Inventory of ready made clothes to develop my business

Benjamin Mwangi

Mazeras, Kenya

100% repaid

Entrepreneur

Name

Benjamin Mwangi

Member since

February 2015

On-time repayments

196 installments  •  8%

About Me

Am benjamin mwangi aged 27 years married with one 3 years old baby boy.I am third born in a family of seven from a small village in kiambu county central province Kenya.I joined aprimary education there in my home village and after completing my primary level,I joined a secondary school then after my form four course I joined an agricultural institution for two years.I didn't proceed beyond due to financial instability so I went back home and helpeped my mother to cultivate our land.after one and a half years I came in Mazeras kilifi county coast province and get employed in an export processing zone as a final quality helper.due to late working hours,excess working and low salaries,Decided to start my own bussiness from the small amount I was ivested.I like listening music,watchingmovies and reading stories during myfree time

My Business

Due to challenges that I faced during the time I was being employed,I keep a wish one day to be self employed that is whay I invest the little I had and started my little business of selling ladies and gents wears.I deal just with ready made clothes.Big percentage of people in my town prefer ready made cloths especialy those who work in oficies and also they can not repeat same wearings for several times so my business is on high demand.cloth selling business does not requre large amount of capital to start,it has a high demand,it has no season and it goes with fashion.I use my income to pay my rents,to support my mother with school fees of my younger sister in high school and the rest to boost my bussiness.

Loan Proposal

I will use my loan to add a stock of new fashion of this year inorder to avoid rush and to get in large quantity so I will be able to serve large amount of customers at a time without rushing.Also I will save my time and money so will have enough free time to enjoy with my family.

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Loan Info

Project Type

Classic Loan

Disbursed amount

$100.38

Date disbursed

Feb 16, 2015

Repayment status

On Time

Projected term

2 months

Cost to entrepreneur

Lender interest: $100.38 at 7.89% annual rate over 2 months = $1.65

Service fee: $0.79

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