Entrepreneur
Name
Phillip
Member since
May 2017
On-time repayments
68 installments • 28%
About Me
I was born in Lusaka but grew up in Livingstone City because my parents shifted to Livingstone soon after I was born.
I did my elementary, high school and tertiary education right in Livingstone.
- when I was doing my tenth grade my father lost his job unexpectedly and unfortunate enough he had never saved enough to be able to take care of our family. Thus at times I had to go to school and study whole day on an empty stomach. I had to endure this struggle up to my twelfth grade because I knew how important it was to complete my education and that was my goal.
-I learnt the laundry and dry cleaning business from my uncle but I raised the capital on own through a nine to five job I did
-our land is fertile for business and the people are loving and supportive. Secondly, the population is increasing which saves as an advantage for our business.
- I do not have children yet
-my hobbies include studying motivational books, audios an videos. Just this morning l was watching a video titled becoming Warren Buffet
My Business
I own and run a laundry and dry cleaning business called Expert Laundry and Dry Cleaning situated in new soweto market in Lusaka the capital city of Zambia. I founded it in july 2013 and registered it with the government the following year in March. The business has been growing Since inception in that the number of clients has continued increasing. Also I have employed ten more people to help me with the running of the business. But we are still using domestic machines for laundry and dry cleaning as we are unable to raise capital to purchase industrial machines.
I use the profits to reinvest in the business, earn a living and also help the less privileged.
Loan Proposal
I will use the loan to make a billboard for my business. We don't have a billboard for advertising our business and so we are not that known in our working area. We feel only a few know about our existence.
My business will benefit as more clients will flow to our place because more will know about us.
We expect our profit to increase by 25% as more will know that there is a dry cleaning business in their vicinity.
The one who made my billboard before charged me $78 two years ago. Thats about K700 in our currency. But due to the rise in our economy he has charged me $110 about K990 kwacha, and has promised to make it even more attractive and stronger than the first which got damaged due to heavy rains.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$108.00
Date disbursed
Nov 22, 2017
Repayment status
Late
Projected term
15 months
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