Loan to increase stock of clothing for sale
Justin
Ruiru, Kenya
100% repaid
Entrepreneur
Name
Justin
Member since
September 2014
On-time repayments
161 installments • 37%
About Me
I am the first born in a family of seven, an accountant at Bidii Investments, and a clothing business owner.
Growing up in a family of seven inspired me to work hard in order to help in supporting the family. As a child, I always dreamt of owning a business. Achieving this dream was not easy, but through personal savings I was able to set up a clothing business.
My hobbies include reading newspapers, magazines, and novels, and also socializing.
My Business
My business entails selling new clothes at retail prices after acquiring them in bulk from wholesalers. Even though over the years there has been influx of secondhand clothes in the market, many people still prefer buying new clothes.
I chose to venture into this business due to a gap which existed as a result of a lack of businesses similar to mine in the business locality.
My typical costs include:
rent -$67
employees wages- $78
transport cost- $56
water and electricity bill- $22
revenue-$222.2
Most of the profits the business generates are usually re-invested into the business.
Loan Proposal
My business entails selling new clothes at retail prices, after acquiring them in bulk from wholesalers.
If granted the loan i will buy new trouser worth $50,night dress worth $20,ladies dress worth $30,towels worth $30,shirt worth $35 and pillow worth $25.
with this increase in stock i will be able to generate an extra profit of $110 in and hence beside continuing assisting my younger sister i will be able to extend my help to my older sister by catering for part payment of school fee in college which she expect to join in September 2015 to pursue a course in Business Management.
Am also in the process of going back to school to pursue Bachelor of Commerce beginning next year
Extra Profit of about $50 generated will be re-invested into the business.
About Me
Am a first born in a family of seven, an accountant at Bidii investments and a clothing business owner.
Growing up in a family of seven inspired me to work hard in order to help in supporting the family.
As a child i always dreamt of owning a business, achieving this dream was not easy but through personal savings i was able to set up a clothing business.
My hobbies include reading newspapers, magazines , novels and also socializing.
My Business
My business entails selling new clothes at retail prices, after acquiring them in bulk from wholesalers.
Even though over the years there has been influx of second clothes in the market, many people still prefer buying new clothes.
I chose to venture into this business due to a gap which existed as a result of lack businesses similar to mine in the business locality.
My typical costs include: rent -$67
employees wages- $78
transport cost- $56
water and electricity bill- $22
revenue-$322.2
Most of the profits the business generates are usually re invested into the business.
Loan Proposal
My business entails selling new clothes at retail prices, after acquiring them in bulk from wholesalers.
If granted the loan i will buy new trouser worth $50,night dress worth $20,ladies dress worth $30,towels worth $30,shirt worth $35 and pillow worth $25.
with this increase in stock i will be able to generate an extra profit of $110 in and hence beside continuing assisting my younger sister i will be able to extend my help to my older sister by catering for part payment of school fee in college which she expect to join in September 2015 to pursue a course in Business Management.
Am also in the process of going back to school to pursue Bachelor of Commerce beginning next year
Extra Profit of about $50 generated will be re-invested into the business.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$200.00
Date disbursed
Jul 29, 2015
Repayment status
On Time
Projected term
14 months
Other loans
Lenders
United States
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