School bags for the stand

Paul

Kafue, Zambia

100% repaid

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How it Works

Entrepreneur

Name

Paul

Member since

January 2017

On-time repayments

80 installments • 86%

About Me

My names are Paul Mwaba, a business man and stockist of different kinds of used bags. Am third child in a beautiful family of seven siblings, four girl and three boys. Family is my greatest support system next year am planing of starting my own family with my girl friend of two years. For me it's more about contribution now, working with two guy who both have wives and small families, it's now about a big picture of the reason why we are business the work we do.

My Business

My business is selling different types of bags that ranges from school bags, hand bags, fashion bags and traveling bags.
The bags are on demand all year round and the one that are good for business in terms of profits are school bags, which have a high profit margin and as a business we want to be always highly stocked during the school seasons. The demand for school bags is quit high because new entrants into the educational system will require a new bag as well as those already in there will require to replace there old bags. The cost of a bale of bags is $150 and we are able to sell the bags at $250 with less than $50 in the total expenses in a week we well able to make a $100 profit. which I use to pay for my school fees, house rentals and the rest I reinvest into the business.

Loan Proposal

I plan on getting new school bags for the coming school season, this loan will enable me to buy 2 bales of bags at a cost of $200. with the increase in inventory this will translate in high returns of profits which will help me pay for my school tuition fees and help me pay 2 guys who are my shop helpers. with this capital injection am expecting the profit to increase by $50.