Building materials for my hardware store

Collins Adjei

Berekum, Ghana

100% repaid

Entrepreneur

Name

Collins Adjei

Member since

March 2015

On-time repayments

69 installments  •  25%

About Me

My name is Collins Adjei from Drobo in the Brong Ahafo Region. I am 28 years of age, born at Drobo to Mr and Mrs Duah who are all farmers.
I had my primary and junior high school education at Berekum Assemblies of God preparatory and junior high school. After I had completed, I continued at St. James seminary and senior high school at Sunyani. I then attended Mount Mary college of education to be trained to become a teacher in 2010.
I am currently working under Ghana Education Service as a teacher and I have been posted to Adom junior high school which is in Berekum.
I entered into hardware business in 2013. I did this because I saw that the people in the area were finding it difficult to get access to hardware items. I have been able to employ three people who are helping me when I go to work.

My Business

I established this business in the early 2013 with the sum of about 1000 dollars. The hardware store is located at Adom new town were I am living at and the store is near Lincoln preparatory school. Some of the materials at the store include cement, nails, paints, iron rods, and many more.
I entered into hardware business because I found out that the people at Adom new town were finding it difficult to get access to building materials because the area is a new site.
Thought the establishment of the business, people at Adom new town have gotten easy access to building materials which have help them to reduce risk of going to town to buy hardware goods. I have employed three people who help me and take care when I am not at store.
I will like to establish a new branch and sell hardware goods that are not available at my store and also would like to expand my business in other to provide more goods to the community and employ more people to reduce unemployment in the area. I will buy some items like cements, paints, nails, iron rods and plywood. I estimated about 3500 dollars for my expansion work. I am able to make a profit of about 30 dollars to 40 dollars a week.
REPAYMENT
I will be able to repay any loan offered me from the sale of the goods I sell.

Loan Proposal

I am planning to expand my business by purchasing additional building materials to make my store look attractive to the public. I will be able to increase my profit margin. This will help me to pay my employees who are helping me in carrying out the business. It will also help me to further my education.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$180.50

Date disbursed

May 27, 2015

Repayment status

On Time

Projected term

6 weeks

Cost to entrepreneur

Service fee: $4.56

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