A loan to increase my buying capital of cashew nut
Dennis
Berekum, Ghana
70% repaid
Entrepreneur
Name
Dennis
Member since
January 2015
On-time repayments
16 installments • 13%
About Me
My name is Dennis Damoah..I am from Ghana and a graduate from the University but life after school has not been too smooth since the rate of unemployment is high... I then decided to get myself into trade about a year now. I started on the low and my capital was not too big so i could not buy enough as i wanted, so as to increase profit. A friend told me about Zidisha loans and i decided to get on board so as to have a loan and be able to expand my buying capital this year.
My Business
I deal in the buying of cashew nut from local farmers and i intend sell to some foreign exporters who come to buy the cashew in large scale and load unto trucks for shipment... When i started last year, at the end of the peak season, i had been able to buy 20 bags of cashew, with each bag weighing about 80 kilograms. a bag of cashew cost about 100$ but i usually buy in little kilos from the farmers before i can have a full bag over time. I had little financial difficulty with the payment of sacks and a larger weight scale which i used to carry out my operations. Again, i sometimes buy cashew from farms and it becomes a problem when i have to either walk or hire a vehicle to carry my bought goods to my warehouse. When given this loan, i will work hard with it so i can increase my purchasing power with the increased capital and also get myself a motorbike which i will use to carry loads i buy from long distances..I am hoping to get this loan and then i can improve on my previous year's buys, so as to increase my capital as well as the associated profit.
Loan Proposal
I am Damoah Dennis and i have been the cashew trade for more than a year now. Last year was good but i still lacked certain basic needs as i had to visit farms to make purchase and when bringing loads back home was a little troubling because of bills that local boys who carry the luggage charge per bag... I therefore wish to expand my buying capital this year as we are already in the cashew peak season, so that i can buy more bags and have adequate capital to enable me buy a motorbike which i would use to convey the bags of cashew from the various farms to my warehouse...when given this loan in time, i am sure i can increase my buying capital and my associated profit shall also increase.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$50.00
Date disbursed
Jan 27, 2015
Repayment status
Late
Projected term
3 months
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