Loan to buy hair, shampoo, and chemicals for my beauty shop

David Bachia

Ongata Rongai, Kenya

4% repaid

Entrepreneur

Name

David Bachia

Member since

February 2016

On-time repayments

45 installments  •  76%

About Me

Thank you very much for this golden opportunity.
First i was born and brought up in up country. I am a first born of three. My parents practice mixed farming in addition to cash crop like tea and coffee.
I was taken to school and went through primary and secondary education before joining a technical college level where I studied Hair dressing and beauty. I as young and energetic man, i knew that by tapping in an area that is largely dominated by women will make me stand out of multitude and excel well. My parents helped me to go to the course and I was busy working and employed in salons and beauty parlor. I gathered enough experience while saving money and later on left the employment and started selling beauty products since they fetch me smart cash compared to having a salon. This is how i came to start my own business of Beauty shop. What is unique about the land I live is that people appreciate effort made by other people. My children would like to be well brought up, feed well and get better education and skills to be entrepreneurs in future. My unique hobby is helping the unfortunate and visiting the children homes besides watching football. I am an ardent fan of Arsenal England team.
Thank you.

My Business

My business is a beauty shop. I sell products like hair,Gel,lipsticks,oil,hair chemicals,powder,diapers,cutex,Shampoos,hair bands, face colors and many more others.
These products are always on high demand as they are commonly used by women for beauty and make ups.Also they are used by children like diapers and special baby body oil.
I choose this business simply because i love the business make good profit out of it besides being a profession. My typical costs are cost of buying all the necessary and most important products that are on high demand. This also includes the cost of electricity, rent and transport. Most of my profit i reinvest while paying the bills take some for personal use and help my parents back home.
Thank you.

Loan Proposal

Once i receive my next loan, I will be able to buy more of the fast moving products in my shop to continue fetching me good profit.
In my first budget, I will again buy varieties of Hair both synthetic and human hair at $55.00; I will also buy tools and brushes, body and bath and assortment of skin care products at $40.00
Also on the list will be Shampoo and chemicals at $30.00 and $25.00 respectively.
I will buy Hair and body lotions or oils at $20.00.Also on the budget will be Make ups, nail polish and lipsticks all at $28.00.In my sales I will introduce Massage oils and hair removals all at $34.00. Still on the list will be Hair bands, earrings and Jewelries at $45.00. I will buy dust coats and other to cater to logistics all at $10.00.
The above mentioned products will add to the stock that I have to ensure that my customers will find all product available in my shop. This will make continue to me retain my customers by making almost every product available whenever they needed them. I expect to make a good profit from the current USD45.00 per day to USD60.00. This will be very possible according to my new projection. This will be a great improvement towards achieving my dream goals of making my business a wholesale in future. I will continue to pay your loan and completed comfortably without delaying. I will be able to feed my family while paying all bills with this business. I continue to visit my parents to help them buy food materials and helped them meet other expenses. I am seeing God in my life and I congratulate all of you my lenders for you generous contributions towards eradicating poverty in many countries.I will start even helping the poor and contribute more money through our church to take to children homes and street families.
I thank you most sincerely!

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$301.49

Date disbursed

Oct 4, 2016

Repayment status

Late

Projected term

63 months

Cost to entrepreneur

Service fee: $12.42

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