Revamping my clothing shop

Constance Mwongeli

Nairobi, Kenya

100% repaid

Entrepreneur

Name

Constance Mwongeli

Member since

February 2016

On-time repayments

217 installments  •  62%

About Me

my childhood was not on a silver platter as my mum really had to hassle to fend for us despite being employed and I always thought some day away from working for n organization or individual i would do it for me by having a side business to get me there. I did not have luxuries that kids from today enjoy but glad I had a descent education and took it seriously.
I once overcame a hardship by opting to baby sit for my neighbor as at the time we were on forced unpaid leave due to current economic issues
tourism is very unique for us in my land followed by farming and at the ed if the day this people need decent clothing
I eventually want to be self employed and put all my effort into my business and also set precede to my peers and again create employment.
Am passionate about fashion and look forward to having a clothing line with my initials one day.
it is wonderful do have a passion and drive for your vision.
as a child i loved knitting for my dolls and making them fashionable .
started by business just selling stuff to my fellow colleagues and making a profit and going back to wholesale shops to get more
my children want to go places my daughter a neuron surgeon my son pilot and i know i need funds to take the m this far.

My Business

I sell clothes, jewellery, shoes and handbags and goods that are trending in the market at the time and am also employed
everybody needs an aspect of fashion and in my opinion it doesn't matter what you do but when your smart things always fall in place and people will always want to look nice
i chose this business because i act as the guinea pig as i love to look nice and people started asking where i buy my stuff so instead of directing them i offered to deliver at and extra fee and word went round and with time i got clients who will call and describe what they need i advice depending of figure and i have take my time to understand colours and motives what looks nice on who.
the profits range from 50-100%ing and being a single mum i supplement the profits to keep my children in school and some to restock this way i always have something going for me am also in a sacco where we get bonus which i also use to restock my stuff and have the moneys double hence making more profit
my typical cost would be like usd 500 aand out of it i can make a profit of say USD 300 .

Loan Proposal

I intend to restock my clothing inventory with USD 200, add on some hair extensions for usd 100 and and sandals for usd 110, i still have jewellery so will not need to addd on that as it is no longer first moving like before.
From the cloth inventory i should make 100% profit so returns should be usd 400 hair extensions would give usd 50 and shoes usd 30.
This will bebefit me to pay my stall, the girl who takes care of it and should help me keep my kids in school for the remainder of this term beign a very long term.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$405.85

Date disbursed

Jan 30, 2019

Repayment status

On Time

Projected term

7 months

Cost to entrepreneur

Service fee: $17.10

Credit risk payment: $68.40

Optional expediting fee: $34.20

Lenders

Paul Buchheit

Mountain View, United States

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