Home-building materials for my hardware store
Collins
Berekum, Ghana
100% repaid
Entrepreneur
Name
Collins
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 going to use the loan to establish a new branch and also buy new items which are not in the old store to attract more customers. And I will be able to employ more people to work with me and reduce the unemployment in the area. This will help me to increase my profit and be able to pay my employees.
A box of nails is about 15 dollars, a bag of cement is 15 dollars and a bottle of paint is about 10 dollars. I will buy more items and store to prevent me from inflation which is high in my country.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Mar 31, 2015
Repayment status
On Time
Projected term
5 weeks
Other loans
Lenders
san francisco, United States
United States
United States
United States
Switzerland
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