Loan to buy cosmetics to re-sell

Samuel

Kitale, Kenya

Expired

$132 to go

1% funded of $133 goal

0

days left

Entrepreneur

Name

Samuel

Member since

September 2017

On-time repayments

173 installments  •  54%

About Me

I have been raised to with hardships from childhood. My father did not have a formal income during our upbringing. I was born in a family of five, two brothers and two sisters.

My parents used to pay just a fraction of my school fees forcing me to have frequent absenteeism from school. It is only by grace that I managed to complete primary school.

I enrolled in a mission day high school. Even in high school i was absent in most of the times due to lack of school fees. I used my part time to work and raise school fees.

I worked for a chain store after graduating from high school. I worked for three years to raise my university fees which I joined in 2014 to study business and economics online.

After graduating in 2016, I started a cosmetics venture with the savings I had made. My cosmetics business is fairing well. However, I want to expand it to create employment for the needy.

I have chosen cosmetics business because it targets ladies. Also, ladies like beauty products so they can provide a good market for my business.

I have employed a single mother to enable her raise her children from the salary she gets from my business. I want to impact on more needy people like her.

Also, I am supporting an orphan with school fees. I would like to empower youth through creating employment for them.

My Business

I sourced the capital for my current business from my past savings. I deal with beauty products and boutique.

These products are always in demand because ladies provide a great market owing to their behavior of going with current fashion.

I raised 130 US $ in my last loan which has helped me to grow my cosmetics business. My budiness is worth 3000 US $.

I need to raise 400US $ to grow my business by increasing stock and generate more profits for my growing demands. Also, I will use the profits to create more employment for the youths.

I currently have190 US$ and intend to raise 210 US$ through Zidisha. I have hired a youth who assist in running my business and she is able to save for her future from the salary that I pay her.
- I will buy braids and weaves because I have realized that they are in demand.

I intend to buy twelve types of hair weaves each two pieces at a cost of 70US $
-I will buy braided artificial hair 400PCs at a cost of 100US$. Braids are always on demand and
therefore I need to stock them well.
- I will spend 20US $ to pay for transportation of that stock.
- will spend 20 US $ to pay for business license.
I expect this loan to boost my business profits by 35%

I wantto help other people in our community develop economically by creating more employment.

To achieve this, I will use profits from my business to enlarge it so that I can create more employment for the youth.

I will also spend Part of my profits to pay for an orphan school fees.

Loan Proposal

Dear lenders,
This is how I intend to use the money.
I will use 90 US dollars to buy stock. This stock will include: Hair care-30 US$:Braids, hair extensions, hair clips and hair dye. Jewelry-30US$: chains, earings, bangles.
-20 US Dollars will buy hair clips, lipstick and balms.
-10 US Dollars will buy Wrist watches.
I will in addition spend 20US$ on transportation of stock to the shop. Also, I will use 20US $ On Premises rent.
Then I will spend 4US$ Dollars for my transport to shop for stock.
I expect this money to increase my cosmetics business profit from 50US$ to 100US$ in a month. I will use the profits to open another beauty shop where I can hire an attendant. This is a plan to create employment for other youths.

Feedback

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Loan Info

Project Type

Classic Loan

Amount requested

$133.00

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