Entrepreneur
Name
Eric
Member since
December 2016
On-time repayments
20 installments • 25%
About Me
I was grown in a very tiny village called Anyinasu in the brong Ahafo region in Ghana.
I started my basic School in this village and had to walk four miles to Dormaa Ahenkro for my junior high school. I completed in 2003 but my father who was my sole financier fell sick and so I had to start the junior high school again with the hope that he would get well and take care of me through the senior high school. He died few days to writing my second final basic School exams and so I had to take my friends photos to get money to buy some basic stuff while schooling.
Life in the university hall of residence was easy since all the utilities were taken care of the admission fee. Life became hard in the diaspora since I had to pay my own rent and all my utilities. So I seek the permission of the university authorities to get a place to start my business. I got the permission and started the business in 2014 till now. So i did the business to overcome the hardship.
The land of Cape Coast is a very Unique land and location because this is the town where the castles( Cape Coast Castle, Elmina Castle and many more) in which the first slave were first kept before they were finally transported to America and Europe. It also the olden schools in the country like Mfantsipim School.
I want my children to become good entrepreneurs.
my unique hobby is cooking.
My Business
My business deals in sellind rice and noodles with chicken and fish.
My goods are in demand because I am located at a university campus and an academic environment for that matter where students have limited time to cook because they are battling with tight academic schedules.
Also the products are in demand because the health of the students and customers are out paramount issues and therefore they choose our brand because they have no fear of falling sick eating at our place.
Our prices are comparatively lower and so it pull a lot of customers at our side because we have to Care for all levels of income earners.
I chose this kind of business since its located on a university campus and students need something fast to give them more time to study and the returns in fast food business is not bad.
Because of economies of scale I buy my raw materials in week and therefore I spend Ghs 1,550.00 on the cost of raw materials and utilities and get a revenue of Ghs 540.00 a week from the sales.
I reinvest the return in the business and as at now I have acquired a piece of land at another location or site in the university and new branch of the business is near completion. This is even a block structure, roofed where customers can comfortably sit and enjoy their meal.
Loan Proposal
First of all let me thank Zidisha for how far i have come in this process.
I will use the loan to buy some cooking utensils and raw materials like rice, oil, vegetables, chicken and all the other materials i would need to make the operation of my business smooth.
I have the plan of expanding my business as it is the will of every business owner or entrepreneur and so eventually i will add the loan to the already saved amount i have to expand the business.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$94.00
Date disbursed
Jan 2, 2017
Repayment status
Late
Projected term
5 months
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