School bags for the stand

Paul

Kafue, Zambia

100% repaid

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.

Feedback

None

None

None

Loan Info

Project Type

Classic Loan

Disbursed amount

$177.00

Date disbursed

Aug 16, 2018

Repayment status

On Time

Projected term

2 months

Lenders

investor

Candiac, Canada

E

ebronken

Oslo, Norway

F

fredrikahl

Stockholm, Sweden

A

AndrewC

London, United Kingdom

T

thegreek1020

San Jose, United States

O

osubucks45

United States

Mike and Jacqui

United Kingdom

Surya Setiyaputra

Sydney, Australia

A

Andrei

United States

Thomas

Sweden, Sweden

Brandon Wright

Salt Lake City, Ut, United States

TH

Tyler Harris

United States

TL

Tao Luo

United States

AS

Ajay Sharma

United States

L

Liz

Canada

MM

Mac McKiva

United States

Gerhard

Vienna, Austria

Ask Paul a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.

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  • Tanvir    Nov 12, 2018

    I wish you the best Paul. Tanvir.

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  • Paul    Nov 3, 2018

    I want to take this opportunity and give thanks to all my lenders, your help has gone a long way in establishing onto my feet after I lost some of my goods when the market got burnt.

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  • Paul    Aug 20, 2018

    I would like to confirm that I have received the loan amounting to 1,030 ZMK. currently on my way to Nakonde to make my orders of school bags being accompanied with one of my help boys. once again I would like to thanks to the lenders for there kindness.

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  • Paul    Aug 15, 2018

    I would like to take this opportunity and thank all my lenders I really appreciate your generosity. I will be buying 2 bales of school bags for the stand at the biggest city market here in Zambia. This will enable me pay my tuition fees and help pay my helpers at the stand. once again thanks to you all my lenders and God bless you all.

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  • Paul    Jul 24, 2018

    I would like to thank all my lenders for there generosity and the Zidisha team. The last loan helped me to add new stork which was a line of new ladies fashion bags which has greatly improved the weekly sales. This enable me to start night college study with Zambia institute of chartered accountants studying for a diploma.

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  • Paul    Oct 12, 2017

    I would like to inform my lenders and the Zidisha team that i have had some challenges with my business after the city market was gated with fire and most of my goods were burnt. which led me to sell the phone that i was using to log onto my Zidisha account, as the result i had challeges in communicating with you. i have had challeges in making payments on time which as led me to reduce my payment amount. i remain commitment and currently am abble to update you on my progress using the internet cafe.
    warm regards.

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  • Paul    Oct 12, 2017

    i have had a challege in my loan payment due to the fire that gated city market where i used to store my laptop bags. this has really affected my business of which i had to sell the smart phone which was helping me to communicate with the lenders and the Zidisha team. i remain comitted to paying back the loan and continue with the good relationship i have with all of you.
    this will help me to keep up with my installment payment, in order for not to continue deforting.

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  • Mathews    Aug 24, 2017

    I have tried to call Paul several times unfortunately his phone is always off. Iam yet to get in touch with his references.

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  • Mwenda    Aug 22, 2017

    called paul Mwaba this morning says he jus had a short hick up in his laptop business however he will resume making payments next week and i will make sure he does...

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  • Mathews    Jun 8, 2017

    Hi Paul please be reminded to pay your instalment on time.

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  • Paul    May 30, 2017

    Hi team Zidisha. We would like to convey my glatitude to all our lender's and inform them that we have received the funding for the bag business which is a K1,646. We have made the order for the bags and we are recieving the stock on Thursday. Once again thank you for the loan, its a great boost to our business.

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  • Paul    May 21, 2017

    I would like to say thank you to Zidisha for the great job you are doing. A big thank you to my lenders who are Paul Buchheit, Humble Bundle Community, Entrepreneurship 7 and The Zinc Team.
    This loan will enable me to increase on my working capital that we have planed as the business to purchase Men's bag at wholesale price and retail them to our customers who are mostly the working class. This will help us increase the profit magine and allows to reivest the surplus to build our own shop. Once again i thank you for this opportunity.

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  • Paul    Apr 18, 2017

    I would like to appreciate the Zidisha team and my lender Paul for there timely help that has enabled me this year to even take some time out and relax during the past easter holiday. My business is doing well, loan repayment stands at 100% and currently working on a new ldea which is an easypay a new franchise on the zambian market which will allowing to sale my customers with power units (ZESCO) and also money transfer to and from all provices of Zambia.

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  • Paul    Feb 6, 2017

    Thank you very much i have received the funding that i had requested. I have purchased more bags to meet the demand for the first school term here in zambia. My daily sales have increased by 20% which will enable me to pay back the loan succesfully.

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  • Paul    Jan 31, 2017

    I wish to express my graditude over the loan given to me by the Lenders Paul Graham thank you very much.
    With this money I will be able to purchase a new set of second hand bags that's travell bags and ladies bags total cost will be $80 and the other $20 will carter for other costs like transport.

    The money will help me boost my profit of upto 25% and I will be able to meet the demand and grow from there...

    Thank you very much for the loan It will surly be a start to a great relatioship with Zidisha as I plan to pay this loan on time so I can acquire another one for the growth of my business...thank you once more.

    Warm Regards!

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