Affordable and colourful yarns for kente cloth production
Seth
Bonwire, Ghana
83% repaid
Entrepreneur
Name
Seth
Member since
August 2016
On-time repayments
97 installments • 82%
About Me
My name is Seth Frimpong a native of Bonwire. Having lost my father at class four (4), I decided to be active footballer. My football career came to a halt when l got injured at my ankle during a match between one coast opponents. As native of Bonwire and for that matter an automatic weaver l decided to weave Kente when l couldn’t pursue my football career due to persistent ankle injury. I found it difficult to weave because of the injury and for that matter opted to sell products (yarn) that are used to produce kente cloth. I now have a store for selling the yarns but the quantity of the yarns in the store are relatively insufficient and at times get finish when the demand is high. I would be grateful if Zidisha could help me to increase the the number of the materials in the store by assisting me with their soft loans.
Interestingly, l cannot play football though, l always follow the game and for that matter a Manchester United fun and Kumasi Asante Kotoko fun
My Business
l will use all the loan that Zidisha will provide to buy yarns to fill the huge spaces in the store. Apparently to complete one set of cloth for men size, you have to get one set of yarns consisting of cotton and rayon. A cone of a cotton cost $1.5 and $3.5 for that of rayon. In total a weaver must buy total weaving material of $90 in order to complete one set of woman size cloth and $130 for men size cloth. This means that l will use the loan this time to buy 30 different set of yarns that the weavers can purchase for kente production in order to fill the spaces in the store. These will however increase the capital l am working with and also reduce frequent shortage of materials in my store
Loan Proposal
l will use the loan to stock my store since production of the kente cloth practically depends availability of yarns
l will specifically buy four boxes of cotton and two boxes of rayon. A box of a cotton cost GHs. 150 hence the overall cost of cotton that will be bought is GHs. 600. In the same vein a box of rayon cost GHs. 200 and a total cost of two boxes of rayon will be GHs. 400. So far, this is how l intend to use the money.
Thank you
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Loan Info
Project Type
Classic Loan
Disbursed amount
$234.00
Date disbursed
Nov 24, 2017
Repayment status
Late
Projected term
10 months
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Margaret Feb 1, 2018
Margaret May 29, 2017
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