Megan photo shop

Entrepreneur

About Me

graduation, I have not had any meaningful employment. This is due to the high rate of unemployment in the country. I have help sales positions in some few small companies, and that gave me the confidence

My Business

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Loan Proposal

My business is a photo studio where I take photo shoots. It was started about three years ago and I have been growing it slowly and steadily. It provides me with a steady comfortable income, and I needed to grow it into a big professional photo studio. This was because of the opportunity I saw in it. I used to make a Net of about 75$ per week but after my second loan, I managed to buy the equipment I required (a new photo printer). This saw my weekly income increase to an average of 100$ due to the improved production quality and efficiency .Most of my net income mostly still went into accommodation and some basic needs. However, now that my income improved, I managed to save quite a good amount which I hoped to top up with my third loan to buy a new motorbike to help me run my errands. I needed this new bike because I to move a lot, taking photos at events, some of which are quite far from my business location. I therefore applied for the third loan, which was granted to me. I acquired the motorbike , and this has helped me grow my business a lot. I am planning on expanding my business by opening a new branch still in my home town, but in a busier location. The new place will require about 1000.00$ for acquisition of the new premise and furnishing it. This will also enable me acquire some few machines and some inventory to start me off. However, as per now, I have saved 420.00$ and I have a deficit of 580.00$. With the opening of this new branch, I project an increase of my income by about 35$-60$ per week for my business in general. This relates to a total weekly income of about 150$-195$. This will greatly improve my living standard and that of those I support, and in doing so, assist us to upgrade our lives, and also that of those I have managed to employ as per now.

I am therefore applying for a loan of 580$ which together with what I have saved will help start off the new branch with less challenges.

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