64 weekly installments • 66%
Am a Zambian lady by the name of Serah Muzyoka .I was born in the year 1987 in the southern part of Zambia in a rural part of a town called monze. I started my school in the year 1995 at a school called Kaloba in Monze west after which i went to do my grade eight and nine in the Western part of Zambia at a school named Limulunga Secondary school in Mongu town. After completing my grade nine I stayed for about two years without learning due to financial challenges. However i proceed with my senior grades later and i managed to complete my grade 12 in 2011 at Masuku Secondary School in southern province of Zambia , though this was done under difficulty financial challenges. I'm currently pursuing a degree programme in Special Education and English at Victoria Falls University Of Technology in Livingstone town in southern province of Zambia and I'm in my third year.
I started a business to help me support my education and the education of my children. My business deals in buying second hand clothes(bales) and then resale them. These clothes are on demand due to the fact that they affordable to most people unlike new clothes in boutique s that are expensive. I chose this business because it was easy to start even with a small capital because one can start by just ordering few clothes from people selling at a slightly lower price and resale them at a higher price and make a little profit, so you don't necessary need to buy a bale when you're starting.Currently I manage to order two bales of second hand clothes at $400 ,in a week i manage to realise $135.00 with expenses amounting to $11.00 giving me a profit of $124 per week.
Once am assisted with a loan by my lenders I will be able to buy more second hand clothes and to also meet my transport costs.This will greatly increase my profit margin by 20%
Am fully aware that many businesses and have been greatly affected by the covid 19 .However for me this will not stop me from fulfilling my obligation to payback my loan because am sure that I will be making profits and will also be able to pay back of anything from my other sources of income.
Cost of loan
Service fee: 5% of $206.00 = $10.33
Credit risk payment: $26.84