Loan to add more stock of school uniform in my shop

Collins Ochieng

Nakuru, Kenya

Funds disbursed

$0 to go

100% funded of $286 goal

0

days left

Entrepreneur

Name

Collins Ochieng

Member since

February 2014

On-time repayments

54 installments  •  20%

About Me

my name is collins ochieng from ken-lands in Nakuru town.i am a graduate in electrical engineering from university of Nairobi,i was raised in a family of ten people where i am the first born.My father passed away in road accident when i was in form two and therefore my mother struggled a lot so as to take me and my siblings to school.I was helped by Ufanisi children's home who supported me dearly and took me to the university to undertake my undergraduate degree. After completing my university studies,i tarmacked for sometime for a job but to no avail.i there decided to start doing menial jobs in the estate with the cleaning company around the community, this was to make the ends meet for me as at that time i was not being cared for by the children's home.IT was through this jobs that i managed to save some cash that i used to start farming business .i started with one hectare of land,the business has been good and now i do farming in two hectare of land.with this two hectares,i managed to get 25 bags of potatoes which retailed at 20 dollars per bag,this totaled to 500 dollars and through the sales,i decided to invest in boutique business in which i invested 250dollars and the remaining 250 dollars i decided to invest back to farming of potatoes,i now need a loan to finance my new boutique so as to add more stock of women's handbags and clothes,i also sell mens wears e.g caps,underpants etc.with the finance in place,my venture will produce lucrative profits.if this business is fully financed,the projected returns will be high,i specially dedicate this new boutique venture due to your continuous help,I KNOW WITH ZIDISHA MY BUSINESS EMPIRE WILL GROW AND I WILL ALSO CHANGE THE LIFE OF A NEEDY PERSON IN THE SOCIETY.THANK YOU GUYS AND MAY GOD GRANT YOU HEALTH AS WE MOVE THIS ORGANIZATION FORWARD.

My Business

i am a happy man to apply for a loan of 300 dollars in your organization,i recently diversified into anew field of business of boutique,so now i operate two businesses,farming and boutique business,with this loan i specifically want to use it on my boutique business so that i can bring it to high level,i started this business 250 dollars that i got from my previous profit of farming last season,i saw high potential in its growth because of high demand of this commodity in its environs,with this loan,the profitability of this business will increase at a very high rate because am targeting to add more stock of women's clothes that are usually of high demand in our area.my projected monthly turnover is 150 dollars and after deducting my monthly overheads,that includes rent ,electricity and salary for my employee this totals to total expenditure of 30 dollars,i therefore remain with 120dollars as my monthly profit in this business a lone.Even though this business has lots of competition from new entrants in the market ,i use good competitive strategies that i have put in place to make sure we become the customers choice in the market and in the end we become the market leaders.I specially plead with you to consider financing this venture because it will surely blossom since everything has been put in place to cater for any need and to coop with existing competition in the market.Also i have employed a very competent and nice gal who knows how to serve customers and thus ensure their maximum satisfaction when they come to our premises.when i combine this with the earnings from my potato farming,i will be in a position to repay your loan in time without any failure,MAY YOU FIND A HEART TO HELP ME IN BOOSTING MY BUSINESS.BYE

Loan Proposal

Dear lenders, i am delighted to apply for a loan of 300 dollars in this organization. This loan is specifically important to me because it is aback to school time.i would like to stock my shop with school uniform since students are going back to school.with this loan, i am planning to use 100 dollars to stock trousers,50 dollars to stock both male and female sox, 100 dollars to stock shirts and blouses and the remaining 50 dollars to stock games clothing's.with this kind of investment, i projecting 500 dollars as my total turnover and after removing the expenses of rent which totals to 30 dollars, i am projecting to remain with 170 dollars as my profit.i really plead with you to help me in this.thanks

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Loan Info

Project Type

Classic Loan

Disbursed amount

$286.44

Date disbursed

Jan 18, 2015

Repayment status

Late

Projected term

10 months

Cost to entrepreneur

Lender interest: $286.44 at 6.56% annual rate over 10 months = $15.54

Service fee: $8.76

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