Second hand clothes for resale

Serah Muzyoka

Livingstone, Zambia

100% repaid

Entrepreneur

Name

Serah Muzyoka

Location

Livingstone, Zambia

On-time repayments

80 weekly installments  •  66%

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

The loan I will get will be used for the purpose of meeting the transport cost I incurred to travel to buy the second hand clothes. The bus fares from Livingstone( where I live) to Lusaka( where i order the bale of clothes) is $20 going and $20 coming back bringing the total to $40. I will be greatful if i can be assisted in this regard because this will improve my profit greatly. Thanks.

Feedback

1

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  • 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.

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Loan Info

Project Type

Classic Loan

Disbursed amount

$58.72

Date disbursed

Oct 19, 2018

Repayment status

On Time

Projected term

2 weeks

Cost to entrepreneur

Service fee: 5% of $58.72 = $1.78

Credit risk payment: $6.36

Lenders

A

AlexCheng

Seattle, United States

Fred

Germany

Kevin

San Francisco, United States

World Centric

Sonoma County, California, United States

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