Loan to buy laundry machines

Edina Mumba

Lusaka, Zambia

100% repaid

Entrepreneur

Name

Edina Mumba

Location

Lusaka, Zambia

On-time repayments

139 weekly installments  •  24%

About Me

We are designers, me and my sister, we work hand in hand to design beautiful dresses for ladies. We have a shop as our designing place, and we have orders from all corners of lusaka, and we still need more materials for the same, i think few meters of clothes will do us good.However, this time around i expand the business and open another in the second class town of Lusaka city.Our country is beautiful and wonderful since independence there has not been any civil wars.Zambia has 73 tribes and every tribe has different culture and ceremonies in there chiefdoms and that are cerebrated yearly.Instance in our tribe we cerebrate ncwala ceremony and we ware the leopard which is a symbol of our cultural norms.My and I we wish our children to have better education for higher job in future

My Business

We design and sale our beautiful dresses at our shop and receive orders to design more for special occasions.This time we to expand and buy more material for making school unifroms targeting schools in the city of Lusaka.Thereby maximize our profits for future investmets,However we want to engage the government defence force to design badges and uniforms and also private companies who dress codes more especially work suits in food production industries, this will help us grow and become no. One designers in the city of Lusaka where alot business activities take place.However our business has grown now and we need another shop to rent because we want to buy a laundry machine and another tailoring machine so we can create jobs for the youths to work at our new shop due the growth of our Business.

Loan Proposal

We need USD 250 to help us purchase the laundry machine which will cost thousands of kwacha and this laundry machine will cost ZMK 4500, this will add value at our business because we alot customers who want clothing to look smart after we have done the sewing and the designing of their uniforms or suits.Definitely the laundry machine will add value and will stop most customers to go laundry business entities but stick us.Thereby generate more income for business.

Feedback

2

None

1

  • David    Jun 10, 2020

    Made a few payments early on, but has not been heard from since March 2018. In June 2020, I finally gave up and transferred the loan to the Zidisha Members Loan Fund.

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  • David    Jan 1, 2018

    Loan was originally scheduled to take 14 months to repay. Instead a final payment was made in less than three months. Good luck for your continued success.

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    • Edina Mumba    Jan 2, 2018

      Thank you very much Mr David, am very glad to hear from you, My business is growing steadily and for this loan that am fundraising i want to open another shop, hence i need to buy a new machine and the new laundry machine for more income generation.

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  • Margaret    Dec 30, 2017

    Edina paid her loan back in a timely manner, I would gladly lend to her again and encourage others to do the same!

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    • Edina Mumba    Jan 1, 2018

      Am very thankful Madam Margaret for recognising us again, we really appreciate you for supporting us.Am gladly that you have came on board to fund my loan and becauseof your support my business enterprise is growing steadily and if this loan gets funded am planning to buy another machine for tailoring and designing and the laundry machine for another shop in town which will also allow us to employ two people as shop assistance.Thanking you madam Margaret in advance

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Loan Info

Project Type

Classic Loan

Disbursed amount

$255.85

Date disbursed

Oct 11, 2017

Repayment status

On Time

Projected term

14 months

Cost to entrepreneur

Service fee: 5% of $255.85 = $7.63

Lenders

PG

Paul Graham

United States

Craig Newmark

United States

Jean Wren Chan

United States

M

Margaret

United States

David

Canada

R

RMIM

United States

Paul Buchheit

Mountain View, United States

A

Anonymous

United States

JG

Jake Gibson and Beverly Picardo

San Francisco, United States

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