New stock for my clothes business

Entrepreneur

About Me

I am a young entrepreneur who is still in school pursuing a bachelor's in financial mathematics.
Having come from a humble background, life has indeed been a struggle. It has been full of so many ups and downs,however, every time i look back, I am thankful for the many lessons life problems have taught me so far. Its a great honour to be young yet so knowledgable about life.
Growing up seen my parents toil to sustain us abd been directly involved helping here and there, work has become part of my life. My mum never relented reminding me and my siblings that if you don't work you do not eat. Not only did she do that verbally but practically sometimes laying a strong foundation for me.
I have learnt to have joy and happiness in my life. Happiness always leads to a more fruitful life. I know for sure when you take on life with a smile that's when you will know whose life is better.

My Business

Am a young entrepreneur managing a thrift shop and a cosmetics shop. I go to the market and source second hand clothes, repair them and resell them at profit.
This is very common among the poor communities who cannot afford new clothes. Demand is very high for the business is situated in a low income area.
I ventured in the business first because it did not requi alot of capital to start. I also grew up wearing and buying second hand clothes and i thought it was not such an alien ideal and i had sufficient experience to get involved.
Restocking ranges at roughly 20 dollars while revenue is a permit which is 4 dollars per year and a medical certification which is 20 dollars per year.
Profit gained is mostly used to expand the business and pay for my college fees

Loan Proposal

Once i have acquired the loan, i will expand my business. Currently its making a profit of an average two dollar a day and hope after the expansion it will be able to give six dollars profit per a working day.
I will also pay for my business premises which is paid monthly at a cost of twenty dollars. This has been the biggest challenge so far as paying of the premises depends solely on the varying business activity. The busier the business the easier to raise money for rent. Hence sometimes i would not have enough money to restock.
This will surely be a big elevation for me for i will comfortably be able to raise my college fee which usually comes from my business. Still, i will be able to help my siblings and parents and atleast easy the burden on their shoulders.
After expanding the business the expected gross profit is six dollars per a working day on average. This roughly one hundred and eighty dollars.

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Loan Info

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