Loan to purchase new materials for my clothing sales

Entrepreneur

About Me

I’m the second born in a family of eight. Since my parents didn't have enough money to pay school fees for all of us, I didn't advance much in education as I was forced by the circumstances to do odd jobs to support my younger brothers and sisters. I was employed as a tea girl in a local primary school and it’s from this job that I saved some capital that helped me start my current business of selling second hand clothes. I would want to see my children grow to become successful people who shall make a difference in other people’s lives. Besides working, I love taking a nature walk and reading magazines during my free time.

My Business

My business involves selling of second hand clothes for women. These types of clothes are very important to the society since majority of the citizens cannot afford to buy new clothes from the boutiques due to low income. I chose this kind of business since clothes being a basic need; their market shall always be there. In addition to that, I also considered the fact that women buy clothes more often than men. My typical expenses per month range between 90$ to 100$, inclusive of rent. My sales per month ranges between 170$ to 190$, leaving me with a profit margin of between 80$ to 90$ per month. I use part of the profit to increase stock in my business and the remaining part to support my family.

Loan Proposal

Hello Lenders. This is what i plan to buy with the new loan;
1. Twenty pairs of Ankle stacked heeled sandals going at 7$ per pair, and sell at 10$ per pair, giving a profit margin of 3$ per pair.
2. Ten pairs of Open toe buckled sandals going at 6$ per pair and sell at 8$ per pair, giving a profit margin of 2$ per pair.
3. Ten pairs of Stylish leather sandals going at 7.8$ per pair and sell at 11$ per pair, giving a profit margin of 3.2$ per pair.
4. Twenty pairs of Women flat shoes going at 5$ per pair and sell at 8$ per pair, giving a profit margin of 3$ per pair.
5. Ten pairs of Wide fuschia open courts going at 9$ per pair and sell at 13$ per pair, giving a profit margin of 4$ per pair.
6. Fifteen pairs of Classy ladies boots going at 11$ per pair and sell at 14$ per pair, giving a profit margin of 3$ per pair.
I expect my profit margin to grow by approx. 20% per month from the next two months. I will use part of the profit to expand my business, by adding more stock and opening other new joints and the rest of the profit to assist my family and needy members in the society. Thanks a lot for your anticipated help..

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Loan Info

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