New stock for my expanded clothing boutique

Kelvin

Nairobi, Kenya

100% repaid

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How it Works

Entrepreneur

Name

Kelvin

Member since

January 2015

On-time repayments

168 installments • 60%

About Me

Being brought up in a family of four children where i was the last born life was not always rosy when I was small. I schooled in a local primary school in my village area but was lucky to get a scholarship for my high school education. After high school i git good grades which enabled me be government sponsored in a public university. Life in campus was hard and i made a decision to look for work to supplement my needs but all in all i never got a good paying job so i started small businesses.
I would buy electronics such as laptops and phones from students and resell them at a profit. This business continued for my first three years of campus until one day when i met a close friend whom introduced me to selling shoes and clothes he linked me up with an importer of new shoes as well as clothes and i became a main seller to fellow students in campus.
I just graduated last year December and I have already laid down strategies of how to continue with this business since its already paying.

My Business

In my business i do sell new imported shoes from china both for men and ladies. i also sell fashionable dresses which are imported and also jeans. All these products have high demand especially by the young generation who represent a majority of our country's population.
Being in the business while still a students I have passed through hardships and challenges and have learn t a lot along the way. The main reason for wanting to continue this business is because The business is able to provide for me and also if I am able to increase its volume i will be in a position to grow to greater levels.
In this business the main costs that I incur includes purchase of stock, payment of government licenses as well as advertising cost, the revenue mainly is from sales of the stock that I have.
The profits that I get from the business i use to reinvest into the business by adding on stock to be able to expand. I also use part of it for my upkeep as i now depend on the business for my living.

Loan Proposal

Hi Lenders,thanks for believing on me and my business I appreciate big.I will use 150 dollars to buy new shoes for reselling which I buy a pair at wholesale price of 5 dollars per pair thus I I will have 30 new pairs.will use 84 dollars to buy men trousers which I buy a trouser at 4 dollars per trouser thus I will have 21 new trousers.I will use the remaining 64 dollars to buy shirts at 3 dollars per shirt thus I will have 21 shirts .I will sell each shoe at 11 dollars thus making a profit of 6 dollars per shoe total profit on shoes is 180 dollars.I will sell each trouser at 8 dollars making a profit of 4 dollars per trouser thus total profit of trousers after sales is 84 dollars.Will sell each shirt at 6 dollars per shirt thus making a profit of 3 dollars per shirt and have a profit of 63 dollars .Total profit expected is 180+84+63=327dollars profit .This loan will help my business to bring the latest clothes and shoes thus increase my profit margin.Thanks in advance lenders for funding my loan.GOD BLESS