Purchase of beauty products stock for my businness

Florence Wanjiru

Nairobi, Kenya

100% repaid

Entrepreneur

Name

Florence Wanjiru

Member since

March 2014

On-time repayments

343 installments  •  37%

About Me

I am Florence Wanjiru, I am a university graduate. I hail from Kenya in a family of seven members. I am a humble person, God fearing, hardworking and a responsible person. I believe that success comes from hard work and determination. My determination has enabled me venture in a cosmetic shop. During my free time I like to do charity work in hospitals and within the community where I live. I believe that in business you have to take risks in order to succeed. As a woman I know there is no limitation to what I can achieve with my capabilities provided I am determined.

My Business

Hi lenders,
Thanks alot for the Second loan.I purchased my stock and used the proceeds to repay the loan.
As a woman I have always had a passion for beauty. This encouraged me to open a cosmetic shop in my neighbourhood where I sell beauty products like hair pieces different types of body lotions, hair combs and clips among others. My knowledge in these products enables me to have the latest beauty products of high quality than my competitors. My knowledge in beauty therapy enables me to advise my customers on the best products that suit their needs. This has ensured their royalty. Currently the demand for my products has increased even though am faced with financial constraints to ensure steady and timely supply of goods. The loan will be used to purchase more inventory to ensure I meet the increasing demand. Currently I can manage sales of about ksh 30,000 a week which leaves me with a profit of around ksh 6,500. The business profits will be used to cater for the loan plus the income I get from my part time job as clerk in a neighbouring college.

Loan Proposal

I have a cosmetic business which has been doing well for the last three months. I have intensified the marketing and advertisement part through my friends and old customers. This has been fruitful since i now have more new customers. This has lead to additional sales. Currently i am therefore having the problem of purchasing new stock to ensure availability of all products at all times. I therefore want to use the loan to top-up my capital and purchase new inventory. This will ensure new customers will get the needed products at all times. This will be and will remain to be my advantage over my competitors. Currently i make sales of about Ksh 30,000 which leaves me with a profit of about Ksh 6,500. This is prone to change with the increasing number of customers. I will therefore use the profits to repay the loan. I will therefore appreciate your assistance since even my siblings depends on me for financial support.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$150.07

Date disbursed

Apr 11, 2014

Repayment status

On Time

Projected term

10 months

Cost to entrepreneur

Lender interest: $150.07 at 0.60% annual rate over 10 months = $0.80

Service fee: $4.69

Lenders

C

cjmenchaca

Austin, United States

P

planespotter

Berlin, Germany

Y

Yevrahs

Dallas, Texas, United States

S

Serene

Philadelphia, United States

K

kkkkkkkkkkk

United States

M

Merzoide

United States

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