Entrepreneur
Name
Michael
Member since
August 2017
On-time repayments
70 installments • 70%
About Me
I am young entrepreneur building an online bargain retail business. This started as a way to make ends meet in university but has growth to become a source of income beyond school.
My Business
The business is called Below 1000 as it sells items below ksh 1000. This is an attainable price for the majority of the population despite low incomes. I source quality affordable items and sell them.
Loan Proposal
As we have been focusing on our sales strategy for the past two years, we have realised we have not scaled our sourcing strategy as well. We are finding ourselves in a situation where we have sales to fulfil but no product to send. This is due to being unable to buy in bulk consistently. The loan will go into buying the bags and accessories in bulk from our suppliers. This is going to be a focus of the business in the mid term to enable us to reach a point where we have significant bargaining power with our suppliers. We look forward to working with you on this.
Thank you
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Loan Info
Project Type
Classic Loan
Disbursed amount
$180.00
Date disbursed
Jul 28, 2019
Repayment status
On Time
Projected term
2 months
Other loans
Lenders
Spain
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