Lease and renovate a stall for my clothing business
Catherine
Nairobi, Kenya
100% repaid
Entrepreneur
Name
Catherine
Member since
July 2017
On-time repayments
59 installments • 88%
About Me
My name is catherine nyokabi. I come from Muranga county in a place called kariua. I was born in a family of 8 kids whereby am the forth born. Life was not easy as our parents had a small farm which they had coffee as a cash crop but didnt bring alot. All in all they were able to give us some education as we strangled and assisted them in irrigation so for our vegetables. Due to that I was able to know that life is not easy. I worked hard in my studies and I was able to go college.In college I was able to do various businesses like selling sweets and snarks to support my family and myself in one way or another. Later I got married and continued with my small busineses and in support with my husband' s small business we were able to buy a tuk tuk. We have two kids schooling and I wish to give my kids the best.
My Business
I have a tuk tuk business and do mobile clothing business in market places. I sell second hand clothes in market places and thats why i decided to operate a tuk tuk so that it will assist me in transporting my clothes to the market and also to the interiour. Sometimes also weather is very harsh especially in rainy season and so the tuk tuk assists alot.The costs incurred are fuel and servicing, but most are overweighed by revenue since the tuk tuk also works as a matatu which creates about 8 dollars a day.
Loan Proposal
Due to the rains the clothing business has gone down and I have decided to lease a stall so as to work in one place to avoid moving from one place to another. The stall is in a very strategic place and I believe I will make sales out of it. I want to pay rent of 15 dollars per month of which I will pay 6 months in advance totalling to 90 dollars.I will then do some partitioning which will cost me 30 dollars. With the savings I have I will also add stock.
Once I start this business this will ease time wasted for the harsh weather condition and thus create time for more customers leading to more sales. I am projecting to increase the profits or sales to more then 25% and thereby will be able to pay my loan,pay my kids school fees and save for the future.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$116.00
Date disbursed
May 23, 2018
Repayment status
On Time
Projected term
5 months
Other loans
Lenders
Jake Gibson and Beverly Picardo
San Francisco, United States
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