84 installments • 73%
My family and I live in Mombasa Kenya where I operate a small business. I have two kids , a boy and a girl. Before starting a business , I was in formal employement for more than 10 years . Since I worked far away from my family, It meant that I could not see my family for long periods of time. My starting a business has helped me bond with my children since I get to spend more time with them. When I am free, I like playing with my kids, watching documentaries and interacting witn people.
I operate a small business in the coastal city of Mombasa in Kenya. Over the years, the business has grown thanks to the support of our loyal customers.
We sell all kinds of gift products , ranging from Toys, Watches, Wall decorations, Sunglassess, jewellery to name but a few.
I am writing to submit a loan application to support the purchase of additional stock for my gift shop. I believe this investment will greatly benefit both my business and the community we serve.
With the loan, I plan to expand the range of products offered in my gift shop, including items such as unique handmade crafts, locally sourced artisanal goods, and trendy fashion accessories. By diversifying my inventory, I aim to attract a broader customer base and increase foot traffic to the store.
This expansion will not only benefit me as the business owner but also local artisans and craftsmen who create these unique products. By purchasing their creations, I can provide them with a platform to showcase their talents and generate income for their families. This mutually beneficial relationship will contribute to the growth and vitality of our community.
I anticipate that the loan-funded stock expansion will lead to a significant increase in sales and profits. Based on market research and demand analysis, I expect a conservative estimate of a 20% increase in profitability within the first year of implementing the new product range. This growth will enable me to hire additional staff, invest in marketing initiatives, and contribute to the local economy by supporting other businesses in the area.
Thank you for considering my loan application. I would welcome the opportunity to discuss the details further and address any questions or concerns you may have. I am eager to take this next step in growing my business and making a positive impact in our community.
Pay It Forward
Jul 20, 2023