Purchase ready-made clothing stock from Uganda

Edith Mumbi

Njoro, Kenya

3% repaid

Entrepreneur

Name

Edith Mumbi

Member since

March 2014

On-time repayments

119 installments  •  1%

About Me

I am a married woman with one child,i stay at Ngondu village near Egerton University. I come from a family of five three children I being the first born and two brothers after me.I suport the family from my business especially my brother who is an under graduate at egerton University.I am a graduate from Egerton University and I studied Bachelor of science in Community Development.After a .long search of job when I finished my under graduate In 2011 I decided to start a business by the knowledge attained during my course work in bussiness classes.The type of business is a boutique.The boutique helps me to to support my family financially especially when the profit is so high like Christmas period and Easter period.

My Business

MY BUSINESS PROPOSAL:
My business is situated in Egerton University 50m from the gate.The business is a Boutique where by I deal with selling ready made clothes,I purchase my stock from Uganda where the prices are cheap.My customers are mainly the staff from Egerton University and partily the students.They prefer my goods because they are original,fair in price and also within the market place.I purchase the goods cheaply in Uganda thus able to sell them at a fair price compared to other sellers.The risk that I have is that my customers sometimes come and buy goods on credit and promise to pay early yet they take longer than expected to pay thus makes a delay in adding stock.I make a profit of 2,000/= per day thus 60,000/= per month although when the business is down I make a profit of 40,000/= per month.The cost is used to cater for my domestic use and I will use the same to pay my Zidisha loan.

Loan Proposal

I WILL USE THE MONEY TO BUY READY MADE CLOTHES FORM UGANDA WHERE THEY ARE AVAILED AT A LOWER PRICE AND SELL AT MY BORTIQUE AT A RESONABLE PRICE. I WILL USE 3500/= FOR TRANSPORT AND 1500/= FOR MY ACCOMODATION. THE REST WILL BE USED TO PURCHASE CLOTHES. EACH DRESS COST 500/= WHICH I WILL SELL AT 1500/= THUS MAKING A PROFIT OF 1000/= PER DRESS. THE TOTAL PROFIT WILL BE 16000/= THIS WILL ENABLE ME PAY MY LOAN TIMELY AND EXPAND MY BUSINESS BY PURCHASING MORE STOCK.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$149.87

Date disbursed

Mar 25, 2014

Repayment status

Late

Projected term

27 months

Cost to entrepreneur

Lender interest: $149.87 at 6.40% annual rate over 27 months = $21.95

Service fee: $12.11

Lenders

JLadieu

Bellingham, United States

K

Kerkeslager

Richmond, United States

L

Lemon

Switzerland, Switzerland

A

anagnan

BRUXELLES, Belgium

E

Escalada

Bakersfield, CA, United States

C

cranejoad

cazenovia, United States

dlpringle

Denver, United States

T

thebonseung

Republic of Korea

B

Boeing777

United States

JG

Jake Gibson and Beverly Picardo

San Francisco, United States

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