Application for $300 (ghs 938) for inventory for my boutique

Jerry Henry

Kasoa-old Barrier, Ghana

20% repaid

Entrepreneur

Name

Jerry Henry

Member since

January 2015

On-time repayments

177 installments  •  7%

About Me

I am jerry Henry Mensah, a grauate from koforidua polytechnic.I hold Higher National Diploma in Marketing.I was born in Ghana, precisely a town in the central region called mankessim.I grew up with my only sibling who happens to be a boy, Daniel, as he is affectionately known.my primary education was at Islamic primary school in the western region, a town called jaway-.wharf near half assini in the jomoro district of the western region.after primary school i proceeded to My Child international school at kasoa in the central region.i continued to mozano senior high school where i obtained wassce in general arts.I live in a heterogenous environment where diverse cultures are everyday experienced.I have grown with different type of people from a range of tribes within Ghana.i have learnt alot from them and the Good and bad side of it have really prepared me to know how as a person I can deal with different people in my way of life and in my entrepreneurial career. My dream right from childhood through to Polytechnic education has been to be my own boss, in other words an entrepreneur.Since i have nurtured this dream in the entire of my life i took the challenge to venture into the sale of clothings (boutique) and by Gods grace the business is doing well but lack funds to expand the business.I have a strong conviction that my business breakthrough start from today because of zidisha i have joined .For now am single and have no children.my hobby has always Been watching, listening and attending business seminars.

My Business

The name of my business is Sense & Degree Boutique I deal in men and ladies wears like jeans, lacoste, T-shirts , browse, belts etc.I realized the demand of my products when after visiting a big cousin of mine in Togo and decided to bring in a small sample of men and ladies jeans trousers and polo shirts and sold to my friends.The speed at which the goods were bought made me realized that i can make money out of this business, hence my involvement.Some few months ago i extended my business by adding african design clothings manufactured with different fabrics like wooden, polished cotton, tie and die, vlisco, Kente etc.My business mainly involves going own trek to campuses, towns, market places etc to sell.for now I move with a sports bag but the dream is to secure a car to facilitate my errands and believe it will go a long way to enhance the business by going to long distance market where there's the need for my products.My typical cost ranges from $8 to $20.My selling price also ranges from $10-$30.Averagely i make a profit of $3 to $5 on each clothing sold.A minimum of 50 shirts are sold weekly which in actual sense accumulate to an average sales of $800 to $900 weekly and $115 weekly. My weekly fixed cost is $25 which includes electricity and miscellaneous.My personal pocket/house keeping money weekly is $60 giving me a total weekly expenditure of $95 giving a contingency budget of $10 weekly.I strongly believe that this really defends my ability to payback my loan to lenders at $15 to $18 weekly without any stress.For now Profit from the business will be idle because i have completed the repayment of my maiden zidisha loan at a 100% credit ratings recorded.I have already draw my plans how to use my weekly profit of $15 to $20 to repay back this very loan am applying for.Profit will be use to payback my credit facility.

Loan Proposal

My loan of $300 (GHS 938) when funded will be use to increase my inventory/stock for my boutique business.The loan amount will be added to my current business capital and travel to Togo ( a country in west africa) to purchase men and ladies clothings.An average wholesale/dozen price in Togo for either men or ladies wear is $7 (CFA 4000) and this means that my loan of $300 of which am hopeful will be funded will really go a long way to increase my average stock units of 700 pieces to 820 pieces of clothings.
The benefits this will bring to my business is that it will really be my first time ever for such units of inventory/stocks.It means that i will have enough to sell to my existing and potential customers.it also means that my profit margin will grow at a projected 15%.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$249.00

Date disbursed

Apr 21, 2015

Repayment status

Late

Projected term

39 months

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ZlataRoy

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Brussels, Belgium

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MichaelDean

San Jose, United States

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P

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madrid, Spain

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T

ToddK

Indianapolis, IN, USA, United States

A

ashtanga99

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V

vaglio

Vaglio, Switzerland

J

jzidi

Los Angeles, United States

ads68

Melbourne, Australia

fairspirit

Utrecht, Netherlands

JPadgett

Chandler, United States

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Somniferum

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Zal0m0n

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Anonymous

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Clben7

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Evan Lamos

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JeffH

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mepster

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J

jamdal

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KM

Kirsty M

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Daniel R

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Malte

Munich, Germany

Dave Bogard

New York, United States

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Patrick van der Meer

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Tarik

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Thomas

Basel, Switzerland

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Divya Bhat

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zaroastra

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ME

Manaal Eisa

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JG

Jake Gibson and Beverly Picardo

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Ask Jerry Henry a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.

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  • andyfletcher    Sep 8, 2015

    Hello Jerry,
    I hope your business has improved. Can you please give us an update?

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  • Jerry Henry    Jul 12, 2015

    The current exchange rate regime has made stocks expensive and eventually slow down My business.Promise to review in the next couple of days so I could defray my debt because in the past few days we have seen the Cedis appreciating the foreign currencies including the CFA that has been my major foreign exchange.

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  • andyfletcher    Jun 16, 2015

    Hello Jerry,
    I am glad that your business is doing well. Can you please let us know when you will be able to continue with your repayments? Thank you.

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  • Jerry Henry    May 26, 2015

    Hello good day to everyone,most especially to my lenders.it Been a while I posted comment on this page,this is due to the fact that I lost my android phone that helps me to easily access the internet.By the grace of God I have a new phone now so am back.
    Business is doing well and I have been consistent in paying my loan,however I couldn't pay this weekend but am hopeful I will pay by the in the course of the week.Am sorry for any inconvenience I have created.Thank you to all my lenders for your usual cooperation.thank you

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  • Jerry Henry    May 8, 2015

    I thank God for the progress in my boutique business. After the repayment of my first loan I applied for the second credit base of GHS 931 ($245) and by Gods grace it was funded.I added sales from my boutique and traveled to Togo with the aid of a friend in the same business to purchase assorted clothings,especially men's lacostes totalling 300 pieces,out of this 300,65 pieces was funded with my loan of $245 and rest from my sales for.Am back and business is doing very well.thanks to my lenders and the wholes zidisha team. Am very greatful.

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  • Jerry Henry    Apr 24, 2015

    i am happy to inform my lenders that my loan of $245 (GHS 931) was disbursed to me on monday 21st April,2015 at exactly 18:50 pm GMT.
    i will travel to Togo on Monday 27th April to purchase assorted unisex clothing for inventory for my boutique.The wholesale prices for the clothing is between $8 to $20 and therefore i have planned to purchase 60 pieces of assorted clothing.These will include male shirts,female dresses,polo shirts etc.I will post pictures to my lenders when am back.
    Thank you very much i will say to all my lenders for funding my loan, and to the whole zidisha team i say may God bless you all.Am greatful.

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  • Jerry Henry    Apr 19, 2015

    i will buy 70 pieces of assorted clothing because because the clothing i sell ranges between USD 8 and USD 20 in Togo,a neighbouring country.i will also use sales from my boutique for the past two weeks to purchase assorted clothing from Togo. The benefits this loan will bring to me is enomous because an additional 70 pieces of assorted clothing will be added to my existing stock,this is going to beautify my shelves and it means peoples attention will be caught by the many clothings that will be hanged in my boutique. May i use this opportunity to thank all my lenders for funding fully my loan application and i also thank the zidisha team.Am very excited and may God bless you all.

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  • Jerry Henry    Apr 8, 2015

    May i use this opportunity to appreciate the contribution made by my current lenders in the persons of Daniel R,from Germany,Fairspirit from the Netherlands and E from the states,precisely marin county.I say may God bless u all for your 12% funding contributions to my loan application.
    May i also appeal to potential and my existing lenders to take time to read through my loan application and acknowledge my previous all time repayment rate of 100% and consider the funding of my loan application which is left with $219 to enable me travel to Togo to purchase more clothing for inventory for my boutique business.
    Thank you.

    Yours faithfully
    Jerry Henry Mensah
    (C.E.O- Sense & Degree Boutique)
    +233244558959

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  • Jerry Henry    Apr 5, 2015

    Dear my lenders and the entire zidisha team,to God be the glory,great things he has done,I am with deep excitement to announce that i have made my final repayment of $18 (GHS 70 )today.This is the break down,my initial weekly repayment was $9 (GHS 32) and it was suppose to end next week but i accessed my financial strength and realized i can add my final repayment of next week to this week's repayment,hence my decision to pay my remaining debt today.This move will help me to apply quickly my credit facility within the week to enable me join a business friend to Togo,a country that shares border with my country Ghana to purchase clothings at lower prices probably because of their system of free port to stock my boutique shop and get extra more clothings to go sell at various local markets.
    Am very greatful for been a member of the zidisha family and i humbly pray and request that my next loan application of which am optimistic will be published within this week will be considered and funded by my existing lenders,as well as potential lenders because i have a very good credit ratings and financially disciplined.
    Thank you

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  • Jerry Henry    Apr 5, 2015

    Dear zidisha,i thank u for offer that was done me to help grow my business in the form of inventory.By Gods grace business has been very good,especially when i introduced the market to market business to my boutique business.By God's grace today happen to be the last but one week of my repayment,however with the financial strength i have for this week i have decided to add my final repayment of GHS 38 to this week repayment of GHS 32 thereby accumulating to GHS 70.I am doing this to enable me apply for my next credit facility within this week because by God's a colleague business partner is ready to take me to Togo (a country in Africa) to buy my clothings at cheaper prices over there and bring them to Ghana.i believe this move will really grow my business and give me a competitive edge over my competitors because i will have the strategic opportunity to cut my prices slightly to gain more customers.
    Thank you very much for this amazing opportunity because it has really impacted my business positively.

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  • Jerry Henry    Mar 10, 2015

    Dear lenders,it amazing how my first loan has improved my boutique business.The overwhelming news is that Lenders on zidisha platfotm have really been helpful to me.Who on this earth would fund an unknown borrower?,absolutely nobody,yet my lenders took the risk to fund my $100 loan.I say am greatful to you all and will never let you down.Business is doing amazingly awesome.
    As a young Marketing graduate I am always identifying new business opportunities. I have currently left my boutique business to a brother of mine in Ghana for about two weeks nows,I am currently in Togo to purchase electronic gadgets like Home Theaters,laptops etc for one of my new business.
    infact it all courtesy zidisha.I need more money to invest into my new business and so therefore I thank God I have maintained a 100% credit rating to enable me apply for quite a higher loan for my new business.

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  • Jerry Henry    Feb 22, 2015

    I am also appealing humbly to lenders from China who can assist me get into contact with Chinese clothing manufacturers to supply me stock my Boutique to post on my page with their contact numbers for further communications.
    I believe lenders whilst providing us with loan facilities can also help connect me to manufacturers in their various countries.
    Please this is my Mobile No: +233 244558959
    Thank you.

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  • Jerry Henry    Feb 22, 2015

    I am please appealing to lenders to post comments on my page for effective communications. All questions are welcomed.
    Thank you.

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  • Jerry Henry    Feb 22, 2015

    Dear lenders,as I posted three days ago,my new business is also doing quite well and am runing the boutique business with my new cooking utensils business.
    I believe in multi business venture and so therefore once I identify a new lucrative business I have always had the zeal to start the business if only it is lucrative and legal per the laws of my land.
    Am greatful to God and very thankful to my lenders and the zidisha team.
    Thank you.

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  • Jerry Henry    Feb 19, 2015

    Dear lenders and the zidisha team I wish to humbly announce that I have identify a new business venture and have started.Am currently at aflao (Ghana-Togo border) doing business on trek with new products of my new business I have idrntify but I think I need more money to invest into it because my start up capital for my new business isn't enough, I dont know how lenders can help me whilst I am still paying my first loan,in fact with good credit ratings.
    Please any help for the young graduate who has now turned as a trek business guy???Hahhaha

    Will pose pictures of me and my new business tomorrow.
    Thank you.

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  • Jerry Henry    Feb 19, 2015

    Dear lenders and the zidisha team,I was informed yesterday by one of my invitees by name Evans Arkoh about a new policy of one time GHS 100 deduction from new members or invitees first loan as registration fee.
    Please,I had a conference call with all my invitees and they suggested that if the registration fee be spread it would help them and also encourage more potential invitees.
    They suggested and appealed humbly that either the registration fee be reduced and deducted ome time or better still could be maintained and be spread for the first loan and subsequent loans.Their agurement was that if GHS 100 is been deducted from their first zidisha loan of maximum GHS 335 then it means that their take home loan is GHS 235 and this in fact will be a worry and could affect their loan projects.
    I wish my appeal would be considered.
    Thank you.

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  • Jerry Henry    Feb 19, 2015

    Dear lenders and the zidisha team,I was informed yesterday by one of my invitees by name Evans Arkoh about a new policy of one time GHS 100 deduction from new members or invitees first loan as registration fee.
    Please,I had a conference call with all my invitees and they suggested that if the registration fee be spread it would help them and also encourage more potential invitees.
    They suggested and appealed humbly that either the registration fee be reduced and deducted ome time or better still could be maintained and be spread for the first loan and subsequent loans.Their agurement was that if GHS 100 is been deducted from their first zidisha loan of maximum GHS 335 then it means that their take home loan is GHS 235 and this in fact will be a worry and could affect their loan projects.
    I wish my appeal would be considered.
    Thank you.

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  • Jerry Henry    Feb 16, 2015

    Dear my lenders,Greetings to you all.i write with much joy how the $100 loan has made a significant increase in my weekly inventory in my Boutique business.business is doing Well and I hope and pray that business will continue improve week after week.
    Thank you.

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  • Jerry Henry    Feb 4, 2015

    Thanks to The Zidisha Team and lenders for reviewing the maximum credit limit for each progression level.
    Good job done.This will really empower some of us to do greater works.

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  • Jerry Henry    Feb 4, 2015

    I wish to once again thank lenders for the offer been done me.about a week ago I received my first credit loan of $100 (GHS 319).The money was used for inventory in my clothing business just as i indicated in my loan application.my first repayment will be on Sunday the 8th of February, 2015.My weekly repayment of my loan is $10.I am happy to announce that it I will review my repayment to a much higher amount before my first installment, this is because business was vibrant during my trek to sell at the festival.I came back this evening and hopefully I will go for new stocks on Friday to various markets.Market has been good for me.Thanks to the zidisha team and lenders,especially lenders who funded my loan.I say God bless u.Beyond the sky is the limit for sense and Degree.my 2015 resolution is to open a clothing retail outlet by the second quarter of this year so I will commit myself to paying my loan on time so I could progress to apply for higher loan facilities.I believe with hardwork, determination, perseverance,business diversification etc the name of my business will be rolling on Tv screen because zidisha empowered young graduates like me through a loan facility to grow our business.
    Hopefully very soon I will apply to be a volunteer mentor to help educate and empower the youth to take initiatives.
    Thank you.

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