Entrepreneur
Name
Philomina
Member since
February 2017
On-time repayments
60 installments • 52%
About Me
My name is Philomina Yeboah from Accra- Ghana. I attended victory primary and junior high school. My parents are Ghanaians with nine children and i happen to be the third. My father is a driver and my mother a trader. After i finished my junior high school education, I helped my mother sell her goods at the market and i really learnt a lot about buying and selling. I gained a lot of experience about buying and selling business and i developed a passion for trading so when I got an admission at the teacher training college, i decided to do something to raise money to support my guardians take care of me and this got me into selling clothes and different type of watches on campus and this business has really helped me to achieve financial freedom.
I am a student entrepreneur and an an outstanding college of education student at Wesley college of education -kumasi. Am a business oriented person and i intend owning my own business after school. I sell watches and second hand clothes to colleagues who cannot afford the most expensive watches and highly priced designer wears and it has helped me a lot to get money to afford my basic needs. I started with a minimum amount but through stringent measures and determination, the business has been so successful. I want my children to have the best and quality education so that they will contribute their knowledge in national development agenda.
I read novels and my Bible when am free.
My Business
I provident students with affordable and quality second-hand clothes and watches on campus to generate income which is reinvested into the business to grow it. Second hand clothes and watches are in high demand because not all students can buy/afford the cost of the most expensive designer wears hence my resolve to provide the alternative goods for all irrespective of their financial standings. More students are in need of the things i sell but because of financial constraints am not able to satisfy them all since my principal amount would not allow me to procure more of the goods.The demand is very high, which far exceed my ability to supply. My mother herself is a trader and she inspires me to do the business which has really helped me. She gave me the starting capital to began and she still coach me on how to save money and many other necessary advices. The profits i get from the business is reinvested into the business to grow it bigger. The loan when given will help me to get enough products to resell and generate enough revenue.
The details of the typical cost and revenue are highlighted below:
Second-hand clothes = 500 dollars
Estimated revenue =320 dollars.
Watches =300 dollars,
estimated revenues= 150 dollars.
The goods are in high demand and about 800 dollars worth of goods will be sold within a shortest possible time.
The profit is reinvested in the business to grow and enlarge it.
Loan Proposal
I will need about 120 dollars to procure many items i sell so that the interest would be used to afford the basic things I need in my school life and also repay the loan as early as possible.Thank you.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Feb 3, 2017
Repayment status
On Time
Projected term
19 months
Other loans
Lenders
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Marcus Aug 11, 2017
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