To Purchase New Sewing Machine & Increase Stock
Lucy
Eldoret-bondeni Estate.house Number 1, Kenya
100% repaid
Entrepreneur
Name
Lucy
Member since
April 2014
On-time repayments
62 installments • 15%
About Me
My name is Lucy Otinga..I live in an estate known as Bondeni in Eldoret town, Kenya. I started schooling in the year 1995 till 2002 when i completed my primary education..in 2003 i joined secondary school where i completed in 2006..before i joined university in 2007,my mum taught me a bit of tailoring and within a short time i knew it. I joined university in the year 2007 and completed in 2011..in the university i studied Bachelor of Education where i majored in English and Literature..i have a passion for helping the needy so during my free time i get involved in community services..i also like reading novels since i am a literature teacher in a secondary school. I am a teacher by profession although i have not yet been employed by the government..I started my business of selling girl-dresses and boy-shorts which are second hand clothes..i did this because i wanted also to help the needy get clothes that they could afford.
My Business
My business is located in eldoret town..i target the needy people who are mostly based in rural areas..most of these people cannot afford new clothes and thats why i set the business because my prices are fair enough for them..the shorts and the dresses are sewn by two sewing machines that i have..during my free time that am not in school, i together with another lady that i have employed sew them.They are then taken to various market places.There is a high demand for these products because they are cheap hence affordable..if i could get another sewing machine it would be better so that many of them are sewn hence more profits..another sewing machine will also create employment because i will need another extra tailor to help me and the other lady..the challenges that i face are that sometimes the people i employ want more pay, this means that i need more machines so that many shorts and dresses are produced so that i get more profits to pay them..also currently i have a very small stock,i would really appreciate if i get the loan so that i increase the stock hence more profits..my customers prefer my products because they are cheap and affordable and they are also readily available..my monthly costs add up to 57 $,that includes payment of the one tailor i have..my profits add up to 50$..if given the loan, i will repay using the profits from my business or my salary from the school i teach.
Loan Proposal
The loan will help me purchase a new sewing machine.The benefit is that it will help me create employment because i will need another person to help in the job.,the loan will also help me increase my stock..i will use 91$ to purchase a new sewing machine and the remaining amount to increase my stock.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$150.00
Date disbursed
May 5, 2014
Repayment status
On Time
Projected term
14 months
Lenders
Austin, United States
Canada
United States
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