Entrepreneur
Name
Rael
Member since
June 2013
On-time repayments
70 installments • 33%
About Me
My name is Rael Chepkurui and i'm married with children.I live within Kaptembwa area near Menyaciaku of Nakuru County.I work as a business lady in second hand clothes business.I'm a college graduate.I purchase second hand clothes in bails for sale and i specialize in children and ladies wears.I chose to deal with this type of business targetting this class of people since women like and love themselves and ofcourse their children need to be smart at all times. I came out with this target group out of a small research that i did and i was overwhelmed by the way i got responses from women.In any business if there is no adequate research one may end up doing something he or she doesn't understand.It also helped me to come out with a good business plan and this gave a very good gateway to my current success.
My Business
The income that will be used to repay the loan will come from sales and services from the second hand business. This is personal business that i run and also same business seeking for an extra loan to add stock hitherto to items that are missing.The demand is actually there from the fact that i was able to market my business well through word of mouth, friends and the existing structure of my clients that is actually like a web business team.Secondly, women love themselves and their children. My goods and services in terms of this clothes is of quality and in tandem with the current version and trends.My customers prefer my business because of prices that are affordable, quality, timely provision of orders /requests from my customers.Continuous marketing and research to match the current trends as in fashion and designs.
The business is profitable due to the following factors: Quality, price and timely provisions. The risks are as follows: competition, prices, variation in markets as well as existing trade regulations/rules by the Government.However, this has been countered well by the fact that we are able to meet customer targets, able to meet government regulations on trade, business and services.My monthly costs averages about Kenya shillings 20,000.The reason is i don't pay for rents other than an open shade which we pay monthly Kshs.750.
Secondly, i run this business as an individual with no employee.So the costs are for purchases and any other incidentals that may come along the way.Sales revenue and profits range to a tune of Kenya shillings 40,000 monthly. So after deductions you can see that this is a profitable business.Out of this i'm able to meet my daily, monthly expenses including my salary.
Loan Proposal
Thankyou so much.Owing to the continuous increase of my clients,i intend to use the loan wisely to increase my stock in order to meet the business damands of my clients.Fashion is ever changing,women love themselves and their families so i will sell more stock therefore generating more profitd.This will make it even easier to repay the loan timely then i ask for more loan.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Aug 12, 2013
Repayment status
On Time
Projected term
8 months
Other loans
Lenders
Osaka, Japan
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