Miriam
Likoni/ Mombasa, Kenya
$0 to go
100% funded of $500 goal
0
days left
Entrepreneur
Name
Miriam
Member since
October 2012
On-time repayments
20 installments • 0%
About Me
Am Miriam Mukuhi, Kenyan and married with with 3 children. i hold a diploma in IT from JKUAT. I live in Likoni at a village called ujamaa. i work for a microfinance called friends for life found in the south coast.
I started this business to reinforce my salary in supporting my family financially. with the earnings i get from this business am able to add more stock to the business, pay the rent for the business premises, settle electricity and water bills. i also pay salary to my two employees. since i intend to expand my business i also do savings.
My Business
i operates a business of selling second hand clothes (ladies cotton tops) to be precise. i started the business with small stock of only one bale of blouses per week at the kongowea market. i have managed to open a big stall at mtwapa shopping center still operating the small stall at kongowea. ladies like these kind of blouses because of the hot weather at the coast region.
the business is quit competitive so i have to be very selective of quality labels of bales. also sell at a reasonable price. also i have to market my products (like move the clothes from door to door to reach those people who work in the offices and don't have time to visit the market places. this is done by one of my employees. the challenge i face in this business is to get a trustworthy clients who will take on credit and pay as agreed. the business gives good profit because i purchase each bale at 15000 and can sell it within two days and get a profit of 3000 to 5000 on each bale. i open 2-4 bales in a week. my monthly expenses are:
rent for the business premises 15000
salary 24000
electricity bill 1800
water bill 500.
with this loan am applying am intending to further expand the business by starting to sell children second hand clothes.
Loan Proposal
The loan that am applying will be used to expand my business. i sell ladies cotton blouses and am planning to mix with children second hand clothes. am planning to by two bales of this clothes where each bale costs 17500.
since i open the blouses bales on Tuesdays and Fridays, am planning to open the children clothes bales on wednesdays and surtadays.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$500.00
Date disbursed
Nov 21, 2012
Repayment status
Late
Projected term
21 months
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