My previous loan application was a success in which I had sought to build a shed where I would be able to sell second hand clothes so as to support the orphaned and vulnerable children that are in my care. The money generated as profit, I have pumped it back into the business so that the business can increase its capital base. For that I am grateful to the lenders that had faith in my project and through their help I have covered a significant milestone. Now, the clothing sales have continued to increase gradually and thanks to this I have been able to raise enough money to provide for these children. In this loan application, I seek to expand the shed because the one that I had built is not enough to store the bales of clothes and also sell during market hours. The problem that this creates is that I have to carry the bales of clothes to my house at times when the stock is more as the storage is limited. This means that I usually have to incur a transportation fee when ferrying these bales to my house, which can be quite costly especially when the services are provided by hand cart puller. I feel that if I expand the shed to include a storage area I would be able to save more rather than incur transport overheads, which I can also use to support the kids.

My business currently involves the sell of second hand clothes at a shed in our local market with the aim of earning a living so as too support the orphaned and vulnerable children that I have pledged to support. I hold these children with much regard because I feel that if I support them in any way I can, then they will be able to change their fortunes in future. At first I began by selling second hand clothes to my friends so as to make an extra income to support these kids but I saw an opportunity in building a shed at our local market so as to reach a wider market. Based on this, I applied for a loan facility here and I was given the opportunity to build a shed which would not have been possible were it not for the lenders that understood my vision. Now I seek to expand the shed because the one that I have does not provide enough storage space and I have to move the bales of clothes at night to my house because they they do not fit in the shed when I have plenty of stock. Once I have created more room, I would be able to minimize on some costs such as transportation costs or the ones that I incur at times when I have to store in a storage space that is within the market which attracts at a fee.

I intend to expand the shed that I managed to build so as to include a storage area as at times I have to rent a place so as to store my bales overnight or carry them them to my house if I do not get a place to rent for the night. Therefore, 70 dollars will go into the expansion of the shed to which I have also identified that there is a storage need for other traders. By expanding my shed, I will be able to also rent out overnight storage space for traders in our local market that come from other towns and also do not have sheds of their own. The remaining at least $35 I will use to buy an additional bale of clothes so as to boost my sales further. By expanding the shed, I expect to increase my profit by at least 30$ through the provision of storage space to other traders at a fee and also saving on the initial costs that I used to incur while renting overnight or transporting the bales to my house. This will go along way in supporting the orphaned and vulnerable children that I care for and also for myself because this business is my main source of income.