Stock replenishment

Monica Kungu

Kiambu, Kenya

100% repaid

Entrepreneur

Name

Monica Kungu

Member since

May 2016

On-time repayments

119 installments  •  94%

About Me

I am the last born in a family of 6 and was brought in rural Kenya.
I am a trained chef which has been quite useful in helping me run my business. ,i like to travel and go hiking. Our country has some of the best parks in the world.
I am also engaged in community work and work together with my local church to reach out to the less fortunate in the rural area

My Business

My business is registered as a sole proprietorship since 2015.Its very simple and straight forward, i import watches from china and resell them at a profit.

My target market are young Kenyans between ages 20-45 , they are tech savy and internet services are available in all major town s in the country. hence its easy for customers to find my products using their smartphones, personal computers or cyber cafes,
My major expenses are the purchase of stock and shipping. The online store fulfills orders made on my behalf. However they take a commission on the sale .Most of the profit i get is re invested in the business.
I intend to use the loan to top up my savings so that i can purchase more stock with a wider variety, to include ladies bracelets, earrings and necklaces.
My plans for the near future is to improve on the variety of the accessories and also open a brick & mortar store so as to reach a wider market.

Loan Proposal

I intend to use the whole loan amount to purchase stock for my watch and jewellery re-sell business. An increase in stock will help me sell more items to more customers and increase my profits by 20%. This will enable me to sustain my business and support persons whom i employ directly.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$397.85

Date disbursed

Jun 7, 2018

Repayment status

On Time

Projected term

3 months

Cost to entrepreneur

Service fee: $17.62

Credit risk payment: $70.49

Lenders

C

cyrilleberger

Gammalkil, Sweden

Erica

Caledon, Canada

BF

Bob Fitzjohn

Fontvielle, Monaco, Yemen

B

Bokolo

Leeds, United Kingdom

D

drorm

United States

Tom Eggert

Madison, United States

Paul Buchheit

Mountain View, United States

BN

Brian Neilon

United States

Dao Nguyen

austin, United States

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