Loan to purchase materials for jewelry-making
Monica
Kiambu, Kenya
100% repaid
Entrepreneur
Name
Monica
Member since
May 2016
On-time repayments
119 installments • 94%
About Me
I am the last born in a family of 6 and was brought in rural Kenya.
I am a trained chef which has been quite useful in helping me run my business. ,i like to travel and go hiking. Our country has some of the best parks in the world.
I am also engaged in community work and work together with my local church to reach out to the less fortunate in the rural area
My Business
My business is registered as a sole proprietorship since 2015.Its very simple and straight forward, i import watches from china and resell them at a profit.
My target market are young Kenyans between ages 20-45 , they are tech savy and internet services are available in all major town s in the country. hence its easy for customers to find my products using their smartphones, personal computers or cyber cafes,
My major expenses are the purchase of stock and shipping. The online store fulfills orders made on my behalf. However they take a commission on the sale .Most of the profit i get is re invested in the business.
I intend to use the loan to top up my savings so that i can purchase more stock with a wider variety, to include ladies bracelets, earrings and necklaces.
My plans for the near future is to improve on the variety of the accessories and also open a brick & mortar store so as to reach a wider market.
Loan Proposal
Having been in the jewelry import for re sale business for a while, i have come to realize that competition is growing and theres is an influx of a lot of fashion accessories from China. This has driven up competition and its time to think out of the box.I have now changed tactics and am seeking to break into new markets by selling custom made accessories. Am seeking a loan to buy jewelry making raw materials that i can use to design and custom make unique jewelry that can sell at a higher profit.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$816.00
Date disbursed
Oct 3, 2018
Repayment status
On Time
Projected term
4 months
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Margaret Nov 4, 2019
Maggie and M Mar 27, 2019
nicole Mar 19, 2019
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