More stock for bed sheets business
Elvas
Migori Town, Bendera Tatu, Kenya
59% repaid
Entrepreneur
Name
Elvas
Member since
April 2014
On-time repayments
26 installments • 35%
About Me
I developed interest in computing since high school. I remember struggling to maintain the best marks in order to be selected as one of the students who were to proceed with computer classes to the final exam (KCSE). Unluckily I was not selected despite being the best in all the exams. I found out that it was a deliberate move by the subject teacher since he had personal issues with me that I have never known to date. I was very passionate about computing; I never lost hope and believed I would make it in life. I used to sneak into the lab when he wasn't around, do some designing and programming. At times I used to get caught and face the music, but I had the passion, a strong passion that wouldn't make me give up.
All in all, now am a Software Developer, graduate from Nairobi University with a Degree in Computer Science. My programming interests secured me a job after I developed an Information System for Maranatha Church Headquarters (stores information of all leaders in all the Maranatha churches in Kenya). So far I have developed other softwares; Payroll system, School fees Management system, College Exam Processing System (for the 3 colleges within the headquarters). In Migori County, there are lots of potentials in business since most of them have not been exploited to the fullest. With the skills that I possess, I know I can make my life better. I thank God for keeping me through the part that I'm very passionate about.
My Business
BRIEF BUSINESS OVERVIEW
My wife and I have been having a hard time finding beautiful, quality and affordable materials in terms of beddings, mosquito nets, curtains, clothes, footwears etc. The ones we found were being sold very expensively. Moving from one shop to another, we realised that all the shops were selling the same type of products that we didn't find attractive and affordable. Furthermore, those items were being sold cheaply outside the County borders yet we were being sold at prices almost five times the purchase price. This finding gave us the idea of running one of the best Boutique that would provide residents with attractive and quality products, yet affordable. Though a Boutique requires lots of inputs, we decided to start one step at a time; purchasing bed sheets.
We started the bed sheet business last week (Wed 4th Mar 2015) by purchasing 7 bed sheets at Kshs. 800/= {$8.7} and pricing them at Kshs. 1,200/= {$13} each. Each bed sheet contains two pillow cases, a case which made our clients respond very positively. By Sat 7th Mar 2015, we had sold all the bed sheets we had in stock, making a profit of Kshs. 2,000/= {$21.8}.The demand for more has now risen beyond the quantity we would manage to purchase with the available funds. We would have liked to post photos of our first stock but unfortunately the sales were too fast for us to remember taking photos, so we only took ones already purchased and spread on beds by our clients. But as for the next stock we would gladly post them for our dear lenders for them to see how much of a blessing they would have been to our business.
The reason for applying this loan of Kshs. 25,856 {$282.2}, is to seek extra funding so that we may purchase more bed sheets to meet the current demand, and also to realise higher profits as compared to purchasing fewer products. Later on, we can also add other varieties like duvet covers, mosquito nets, night attires etc, to have complete bedding sets as many of our clients have requested.
Our dear lenders, this is the second loan application, the increase in profits will enable us expand our business. We project a profit margin of Kshs. 1,000 - 2,000 {$10.9 - $21.8} weekly. With the profits realized from the sales that would be made, we would effectively repay the loan, though at a slightly longer repayment period for the business to be stable. However, we believe that it won't be the case since we would repay as much as we can to finish the loan and seek for more. We believe in Zidisha Family, especially having benefited from the first loan funded for our Mug business. I strive to build my trust in Zidisha in order to acquire even more than that amount for major investments. Kindly fund this venture and make our goals and dreams valid.
THANK YOU Zidisha Family!!
Loan Proposal
The reason for applying this loan of Kshs. 25,856 {$282.2}, is to seek extra funding so that I may purchase more bed sheets and realize higher profits as compared to purchasing fewer items. Each bed sheets costs Kshs. 800/= {$8.7}, pricing them at Kshs. 1,200/= {$13} would make them affordable to the clients.
Therefore, I would like to purchase 25 bed sheets costing Kshs. 22,400/= {$244.5}. This will ensure availability of stock and also generation of enough funds to ease restocking since the income would be enough to purchase more stock. Eventually the business would be able sustain itself using the profits made.
Dear Lenders, kindly fund this venture and make my goals and dreams valid.
THANK YOU Zidisha Family
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Loan Info
Project Type
Classic Loan
Disbursed amount
$283.00
Date disbursed
Mar 24, 2015
Repayment status
Late
Projected term
4 months
Other loans
Lenders
United Kingdom
Tampa, United States
Jake Gibson and Beverly Picardo
San Francisco, United States
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