Purchase of stock of ladies tops

Joram

Nairobi, Kenya

66% repaid

Entrepreneur

Name

Joram

Member since

March 2015

On-time repayments

80 installments  •  34%

About Me

Being a first born in my family life was not always rosy as a child since i had to take care of my siblings and had less playing time with my fellow age mates. At the time i was nott so happy about the situation since i was always tised as a house boy but later in life i came to realize that this definitely built in me a responsibility figure where i became responsible to others and to my own self. In school education was not that sweet as my parents had to struggle to pay fees but in the end i made it to high school and later finished but couldn't go any further because my parents had to support my younger siblings. After finishing my high school i moved to the city where i got a job as shop attendant in a boutique where pay was on commission based. This was tough for me at the beginning since i had no prior experience in marketing but with time i got used to it and started to enjoy my work. This really gave me a base point to want to start my own business in this field.

My Business

Having been in the business of cloths sales, i did have some experience and some loyal customers and at least knew what products moved fast and settled on ladies tops. In the culture of Kenyan women decent clothing s part of life and this makes them buy more clothes often. Cheap cloths move fast and i decided to start with these and target middle class people and with my little savings i was able to purchase some stock and sell them. The profit was not much and was shared by reinvesting some and using some for personal stuff. I however want to grow my business and therefore getting a loan would enable me expand my business and this will greatly be of much help tome.
In this business the basic cost will be paying to the city council their dues, paying for space for display and also electricity water and other amenities. The cost is however subsidized hence it will not be that much.
The main revenue got from this business is from sale of the ladies tops.
The profit got will mainly be reinvested to get more stock as well as some for personal stuff and also for advertising to increase the customer base.

Loan Proposal

When I get this loan i will use it to purchase stock for my business. With it i will buy a whole bale that has more than 500 pieces of ladies tops. Out of those i will select the best and sell according to class from the best selling highest to the worst selling lowest.
This loan will greatly benefit me since i will have a wide variety from which my existing customers as well as new customers can choose from. The money will be enough to purchase a whole bale that will give me enough stock adding to existing one to run my business fluently without limit of stock or getting out of stock.
With this amount am sure i will be in a position to make more than $200 in profit a month so paying for my weekly installment will not be very difficult plus i will also be in a position to have some extra to still expand my business further where maybe i can acquire a stall as well as maybe employ someone too.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$100.00

Date disbursed

Apr 9, 2015

Repayment status

Late

Projected term

18 months

Lenders

T

Tmann

Los Angeles, United States

A

Anninymouse

Southampton, United Kingdom

carlos vendrell

Barcelona, Spain, Philippines

tycho

Madison, WI, United States

cyrus0302

San Francisco, United States

D

Davieboy

Melbourne, Australia

Charmonica

London, United Kingdom

J

JBosshardt

Redmond, United States

T

treyh

San Diego, CA, United States

E

evanglend

Arlington, United States

rodcul

Altea, Spain

C

cjmenchaca

Austin, United States

E

ericcamden

Berkeley, United States

B

blahblah

Nuernberg, Germany

S

Stijn

Hasselt, Belgium

J

jdhowa2

Louisville, KY, United States

beverly

Vancouver, Canada

CharlieBfl

Vaduz, Liechtenstein

J

jjonas

berlin, Germany

EmilAsker

Lomma, Sweden

B

bhalter

Eau Claire, United States

indeh

London, United Kingdom

Quentin

Toronto, Canada

T

toscoman

Adliswil, Switzerland

Erica

Caledon, Canada

Cloudways

Malta, Malta

P

planespotter

Berlin, Germany

R

rpmccarthy

Sydney, Australia

B

BClay

Campbell, United States

ads68

Melbourne, Australia

M

michaelangers

Toronto, Canada

O

Orenius

Tacoma, United States

basicus

Cairo, Egypt

J

Jopar

Corroios, Portugal

Muslim

Riyadh, Saudi Arabia

BF

Bob Fitzjohn

Fontvielle, Monaco, Yemen

Zal0m0n

Atlantis!!!! x), Mauritania

B

Bokolo

Leeds, United Kingdom

D

dcb1987

Chicago, United States

sderickson

Berkeley, CA, United States

O

oonbug

United States

Matching Fund

Sterling, United States

cc5alive

Los Angeles, United States

ColinHicks

Chichester, United Kingdom

M

meric

Australia

Cathy

Melbourne, Australia

JG

Jake Gibson and Beverly Picardo

San Francisco, United States

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