Thread for handmade knitting and crotchet

Mercy

Nakuru, Kenya

100% repaid

Entrepreneur

Name

Mercy

Member since

June 2018

On-time repayments

27 installments  •  100%

About Me

I was born in a family of seven. My parents were civil servants and my father passed away when I had just completed higher secondary education (Form Six) where I scored 1 P 3S which was not enough to enroll in the university. My mother supported me through college where I attained a certificate in Certified Public Secretaries (Part I) and a National Diploma in Business Management. since my mother had to support my siblings through education I would have to seek employment with this credentials. I was able to get employment and worked in various organizations until 2011 when following a down-sizing exercise in the institution I was working at I was laid off. I started to make hand-made knit and crotchet products which I would then sell to individuals and also at the market. In addition to this work I also make and sell beads ornaments like earrings, bracelets and necklaces.

My Business

In my knit and crotchet work I specialize in baby and children wear. I especially make dresses & overcoats, mittens, socks, booties, cardigans and pullovers. My products are hand-made, fashionable and are durable. I am able to produce tailor-made products to suit customer preference.
Baby wear creations are generally of high demand and have ready market. though they are highly competitive in a market that has large industrial players with mass machine-produced items.
In making knits and crotchets I am able to put my talents in good use and develop my art of the same.
The cost of thread is relatively affordable at the cost of between Kshs. 60/= (for 50gms ball) and Kshs.120/= (for 100gms ball). A dress/pullover would take up 3 to 4 balls an sell for Ksh.500/=. A pair of socks/booties would take up 1 ball sell at Kshs. 100/=.
From the earnings I plough back to the business and the little amount left over I attend to my daily needs.

Loan Proposal

I wish to borrow a loan in order to purchase thread in bulk. Buying in bulk will reduce the amount of input and give me a larger profit margin than when I buy single pieces of thread. The profit is likely to increase by at least 20%.
Buying in bulk will offer me the opportunity to buy thread of various colors. This is important and provides immediate attention to client requests.
With more of thread I am able to engage other persons and train them to knit and crotchet. Thus, I will have more products for sale and a wider market distribution.

Feedback

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  • David    Oct 25, 2018

    This loan was scheduled to take 5 weeks and the payments were received right on schedule.

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Loan Info

Project Type

Classic Loan

Disbursed amount

$15.00

Date disbursed

Aug 15, 2018

Repayment status

On Time

Projected term

4 weeks

Lenders

Mike and Jacqui

United Kingdom

A

Andrei

United States

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