Entrepreneur
Name
Richmond
Member since
April 2015
On-time repayments
228 installments • 61%
About Me
I started school at Ridge Experimental and later changed to Good News Baptists where I completed my basic education. I started saving part of the money that was provided to me for transportation to school, to buy things that I needed and couldn't ask my mum since she didn't have much money. I started my bread business with the amount I had saved from my salary. Where I live, every body wishes to start something on their own, but the problem is the capital. I don't have children yet but when I marry and have kids I will teach them how to be good entrepreneurs. I have interest in basket ball.
My Business
My bread business is doing good in the market now. Now what I want to do is to complete a one bed room apartment that I have and rent it out. I have a dream to enter into Real Estate because the demand for single rooms and apartments are on the rise. The cost that I am currently incurring in the project are cost of cement, sand, water and labor. I am working as an accountant in a hotel so I will use part of my income to settle the loan weekly. The profits from this one bed room apartment will be reinvested in the bigger project that I will start after this one is completed.
Loan Proposal
I will use the loan to buy these inventory
Flour $36.28
Margarine $18.27
Milk $ 28.72
If I am able to buy more, I will get more profit than buying them in small quantities and probably I will be able to produce more. I expect it to grow to about 30%, but if I get the the loan I think it will start from about 10 % the first two months.
Feedback
Positive
None
Neutral
None
Negative
None
Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Jun 30, 2015
Repayment status
On Time
Projected term
3 months
Other loans
Lenders
United States
Ask Richmond a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.