Increase inventory for my school uniform business to support my charity school
Charles
Nairobi City, Kenya
52% repaid
Entrepreneur
Name
Charles
Member since
June 2014
On-time repayments
108 installments • 59%
About Me
I grew up in a remote village in Western Kenya along the shores of Lake Victoria.I was involved in child labour since I started fishing at a tender age of 6,this was because I was an orphan. Through my perseverance and community support managed to go to school and overcome all these. I started this business because I also wanted to give back community and that is why I chose school business and currently there are 40 orphans and vulnerable who are learning at the centre free of charge ,we managed to register 20 this year 2015.
Kayole being in a city has almost all the communities in Kenya with diverse culture, I would like my children to do community work in future and I like watching football and I am the most loyal supporter of Chelsea Football Club in Kenya.
My Business
I do two businesses in one; I provide services in form of education and also sell school uniforms to the children at the school and others in the community. The uniforms are in high demand when the year starts since most of the children will be in need of new school uniform and others might have changed school. I choose this business because it is a long term business since children are born daily and clothing in a basic need and education is also important. A full school uniform cost $ 8 and can be sold @ $ 12.The profits are ploughed back to the business to expand it and also support the orphans and vulnerable children at the centre.
Loan Proposal
I will use the loan to purchase more shirts,sweaters,truck suits,trousers,socks and printing of some uniforms.I will specifically purchase 10 truck suits @$80,20 sweaters @$80,20 ,6 dozens of socks $60,20 trousers@$ 80.I will use the remaining amount for painting of the room and printing of trucks.It is appreciated that from the sales of trucks $30,I will a profit of $30,sweaters $30,trousers $20.The stocks will be sold in approximately 2-3 weeks then another batch will be procured and sold.
Feedback
Positive
3
Neutral
None
Negative
1
Loan Info
Project Type
Classic Loan
Disbursed amount
$440.00
Date disbursed
Mar 7, 2016
Repayment status
Late
Projected term
12 months
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