Loan to purchase electric iron box

Entrepreneur

About Me

My names are Janet Rita Otieno, 24 years of age and a single child to Mr. and Mrs. Otieno. Both of whom are peasant farmers in Homabay county of Nyanza province in the republic of Kenya. I attended Ogongo primary and secondary schools before joining Kenyatta University for my degree. I am currently in my final year hoping to graduating in july this year by God's grace.

When i was in secondary school i remember a time when Kenya experienced a very long drought that really affected the agricultural yields and my parents were hardly hit because they had no other source of income other than farming. It reached a point where they could not even settle their bill. Examinations were also in the offing and examination fees were required yet they sincerely had nothing at all so i resorted to casual jobs to at least get some income. Being a lady it looked somehow awkward to engage in such jobs especially masonry and i was really teased by classmates and school mates but that did not change my mind and i remained focused and determined to achieving my goal.

That season taught a lot of things and inculcated the idea of business in my mind, while in the second year in the university i vowed to make the business idea in my mind a reality, so i joined the business club where students meet and brainstorm the existing business ideas and get to share among themselves business related pieces of advice. . It is from that club that i started my own business.

I am interested in making new friends, visiting children homes during my free times to deliver motivation speeches.

My Business

My business is a fashion and design an art i learnt from a friend in the business club i joined at the university. Overtime i made small savings and borrowed also from friends to buy a second hand sewing machine.

I have been designing latest fashions and selling to the local dress makers and tailors. My target market are generally university students, most of them are pro fashions and this creates a huge demand for my products.

The typical costs include fabric cost, research and marketing whereas the revenues is generally from the sales. I use part of the profits for my upkeep, a small percentage goes to supporting my parents while i reinvest the rest in the business for growth. I currently make a profit $100 monthly.

Loan Proposal

I purpose to use this loan to buy a second hand electric iron box to aid me in my fashion and design business.

Second hand electric iron box currently retail at 20USD.

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