Selling second-hand clothes

Serah Muzyoka

Livingstone, Zambia

20% repaid

Entrepreneur

Name

Serah Muzyoka

Location

Livingstone, Zambia

On-time repayments

71 weekly installments  •  69%

About Me

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.

My Business

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.

Loan Proposal

I will increase my orders for second hand clothes.I will be able to buy more bales of second hand clothes so much I will make atleast 20% more profit than I was getting before.

Income Source

The businesses are really making losses but I have other sources of income.Am also getting a salary from the work am doing so I will be able to service the loan if at all my business fails.

Feedback

1

None

None

  • David    Mar 10, 2021

    Loan was originally scheduled to take six weeks. Smaller, but regular, payments were made, completing the loan in six months. Thank you for your perseverance during these challenging times.

    Log in to reply • Share


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Lenders

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Babbitt Family Foundation

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Jan de Wit

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Ed

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Franmiguel

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Scotts5320

New York, United States

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Bayswater, WA, Australia

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Washington State, United States

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Sophia

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SheilaB

Nashville, United States

C

Cathy

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JR

Jose Ramirez

World, Spain

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Chris

United Arab Emirates

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Loan Info

Disbursed amount

$556.48

Date disbursed

Jul 3, 2021

Repayment status

On Time

Projected term

2 months

Cost to entrepreneur

Service fee: 5% of $556.48 = $27.81

Credit risk payment: $111.30

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Payments Forward

Amount returned to the platform for this project

Pay It Forward Projects funded by Serah

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