Buy machines for business expansion

Osei Poku Richard

Tanoboase, Ghana

100% repaid

Entrepreneur

Name

Osei Poku Richard

Member since

July 2017

On-time repayments

67 installments  •  70%

About Me

I am Osei-Poku Richard. I learned tailoring after completion of my secondary education to enable me pay for my further education. I do tailoring after closing from my teaching job, but I want to do it as my full-time business now. I would also like to open two branches in addition to the one I have now. This would enable me to employ or enroll some people who are disadvantaged to learn through apprenticeship, and also to export some African Wears from Ghana to neighbouring countries.

I have four children. My children would like to become businessmen and some nurses.

My Business

I normally sew African Wear clothes (shirts and trousers). These clothes are in demand in Ghana now and in some African countries. The costs of the business range from $300 to $3000 depending on the type of material and machines you are using and also the cost of energy. It is my intention to expand the business to train less privileged people and also to export some of the sewed clothes to the nearby countries.

Recently I have also started farming in addition to the tailoring work. This also will fetch me some money.

Loan Proposal

I will use the money to buy sewing machines and neating machine. These will cost about $500 to $3000. This will enable me open the two branches I intend to open to train the less privileged people in the community and all sell the clothes (shirts and trousers) to make some profit of about $ 300 quarterly.

Show original English  

About Me

I am osei-poku Richard. I learned tailoring after completion of secondary education to enable me pay for my further education. I do tailoring after closing from my teaching job. But I want to do it as my full-time business now. I have four children. My children would like to become businessmen and some nurses. I would also like to open two branches in addition to the one I have now. This will enable me to employ or enroll some people who are disadvantaged to learn apprenticeship, and also export some African Wears from Ghana to neighbouring countries. I am also into tomato and cashew farming. I just started the farming to support my income.

My Business

I have one tailoring shop which I currently operates after closing from my teaching job. I now want to take it as full-time job. I normally sew African Wear clothes (shirts and trousers). These clothes are in demand in Ghana now and some African countries. The cost of the business ranges from $300 to $ 3000 depending on the type of material and machines you are using and also cost of energy. It is my intention to expand the business to train less privileged people to get apprenticeship and also export some of the sewed clothes to the nearby countries. Recently I have also started farming in addition to the tailoring work. This also will fetch me some money too. I have about one acre square of tomato farm which after harvesting will earn me about $2000 in three months time. In fact I need money to buy pesticides and insecticide to let it grow well. Note, I still do the teaching work.

Loan Proposal

I will use the money to buy sewing machines and neating machine. These will cost about $500 to $3000. This will enable me open the two branches I intend to open to train the less privileged people in the community and all sell the clothes (shirts and trousers) to make some profit of about $ 300 quarterly.

Feedback

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1

  • Julie    Oct 5, 2019

    Paid initially, but no discussion or repayment in more than six months.

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Loan Info

Project Type

Classic Loan

Disbursed amount

$126.95

Date disbursed

Jul 13, 2017

Repayment status

On Time

Projected term

2 months

Cost to entrepreneur

Service fee: $3.42

Osei Poku opted to pay $55.45 into the Zidisha Members Loan Fund in return for a higher starting credit limit.

Lenders

PG

Paul Graham

United States

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