Buy more wood logs for processing into furnitures

Joel Aboagye

Asokore- Koforidua, Ghana

100% repaid

Entrepreneur

Name

Joel Aboagye

Member since

July 2014

On-time repayments

195 installments  •  62%

About Me

I was born on the 10th of February, 1992, 24 years ago in Asokore-Koforidua, in the eastern region of Ghana, located in the New Juaben North Constituency. I come from a family of seven and my parents are Mr. Marcus Aboagye and Mrs. Doris Agyeibea, who stay also in Asokore-Koforidua in Ghana. I have lived with my parents in Asokore-Koforidua, about 4 miles away from the main Koforidua central market with house number ASK/D4. Our building is just adjacent to the main Asokore mosque.

I started my primary education at Prince of Peace Preparatory School in the year 1995 and continued my secondary school in Ghana Senior High School. God was truthful to me, even though I had very tough times pursuing my education. After completion, I came out with excellent grades but needed to hold on for some time before pursing my tertiary education because I had no funds.

As I wait to enter university, I started a wood and logs business to raise some money to start my tertiary education and also serve as a means of sustaining me successfully through my tertiary education. By the grace of God and the input received from team Zidisha, I have been able to successively manage this business for some time now.

I was enrolled in the University of Ghana to pursue a degree in B.Sc. in Dietetics, but I still managed my wood business because it had been my source of revenue for my education.

Currently, I have graduated with a degree in Dietetics and I am undertaking my internship in the Korle Bu Teaching Hospital and still managing my business. I am not married yet but have plans to do so some years later.

My Business

My business started five years ago. Previously I used to transport wood logs from the forest to the marketplaces to sell, and after sometime, I decided to set up a unit to store the logs and process them into furnished goods for customers to purchase directly.

I purchased some wood processing equipment, which was quite expensive, but because there was not enough capital, I purchased the very necessary machines with hopes that I could stock the unit with time. Currently, I have been able to buy some of these equipment I couldn’t buy previously.

My business has seen increment[al increases] in the number of logs I could buy and the amount I could process daily as well as the equipment. Currently, I supply some of these processed wood slates to companies, contractors, and many of the local people for building and furniture.

I supply about 12 communities with my products (slates of wood logs) for their constructional works and furniture. On average, I am able to sell 80 slates of the wood to each community every week. This means I am able to sell on average 960 slates sold in a week to these suppliers in the communities. I also supply on average 800 slates of processed woods to companies and contractors in a week. This means on average I am able to sell 1600 slates of processed woods to the communities and contractors.

Each slate of wood cost 1.80 dollars (7 Ghana cedis), which means I make a sale of $2,880.00 dollars (when 1600 pieces of the slates are sold in the week) and an average of $11,000.00 dollars monthly.

Money gained after the expenses are deducted is used to plough back into the business. Previous loans received from Zidisha have been very instrumental in my business and help to reduce the burden to raising capital for my input. I aim at increasing my loan limit to receive very huge loans from Zidisha. Thank you.

Loan Proposal

This loan will be used to purchase some slates of wood for the communities and contractors I supply. I will use the loan to purchase the wood logs and pay also for their processing in other to supply these processed woods to companies, contractors and many of the local people for building houses and processing into furniture and other goods.
Basically I supply about 10 communities with my products (slates of wood logs) for their constructional works and furniture. Averagely, I am able to sell 100 slates of the wood to each community every week. This means am able to sell averagely 1000 slates sold in the week to these communities. I also supply averagely 500 slates of processed woods to companies and contractors in a week. This means averagely am able to sell 1500 slates of processed woods to the communities and contractors.
Each slate of wood cost 2.50 dollars (10 Ghana cedis) which means I make a sale of 3,750.00 dollars when 1500 pieces of the slates are sold in the week and an average of 15,000.00 dollars monthly.
Money from this loan and profit gained from previous sales will be used to purchase these wood logs from the farmers and chain saw operators in order to make the business move on. I aim to increase my limit in order to expand the business greatly. I am very grateful for the previous efforts to fund my loan and trust that you help me with this loan as well. Thank you

Show original English  

About Me

I was born on the 10th of February 1992, 24 years ago in Asokore-Koforidua, in the eastern region of Ghana, located in the New Juaben North Constituency. I come from a family of seven and my parents are Mr. Marcus Aboagye and Mrs Doris Agyeibea who stay also in Asokore-Koforidua in Ghana. I have lived with my parents in Asokore-Koforidua, about 4 miles away from the main Koforidua central market with house number ASK/D4. Our building is just adjacent to the main Asokore mosque.

I started my Primary education at Prince of Peace Preparatory School in the year 1995 and continued my secondary school in Ghana Senior High School. God was truthful to me even though I had very tough times pursuing my education. After completion, I came out with excellent grades but needed to hold on for some time before pursing my tertiary education because I had no funds.

As I wait to enter university, I started a wood and logs business to raise some money to start my tertiary education and also serve as a means of sustaining me successfully through my tertiary education. By the grace of God and the input received from team Zidisha, I have been able to successively manage this business for some time now.

I was enrolled in the University of Ghana to pursue a degree in BSc Dietetics but I still manage my wood business because it had been my source of revenue for my education.

Currently I have graduated with a degree in Dietetics and undertaking my internship in the Korle Bu Teaching Hospital and still managing my business. I not married yet but have plans to do so some years later.

My Business

My business started five years ago, Previously I used to transport wood logs from the forest to the market places to sell, and after sometime, I decided to set up a unit to store the logs and process it into furnished goods for customers to purchase directly.

I purchased some wood processing eqiupment which were quite expensive but because there were not enough capital, I purchase the very necessary machines with hopes that I could stock the unit with time. Currently I have been able to buy some of these equipment I couldn’t buy previously.

My business has seen increment in the number of logs I could buy and the amount I could process daily as well as the equipment. Currently, I supply some of these processed wood slates to companies, contractors and many of the local people for building and furniture.

I supply about 12 communities with my products (slates of wood logs) for their constructional works and furniture. Averagely, I am able to sell 80 slates of the wood to each community every week. This means am able to sell averagely 960 slates sold in the week to these suppliers in the communities. I also supply averagely 800 slates of processed woods to companies and contractors in a week. This means averagely am able to sell 1600 slates of processed woods to the communities and contractors.

Each slate of wood cost 1.80 dollars (7 Ghana cedis) which means I make a sale of 2,880.00 dollars when 1600 pieces of the slates are sold in the week and an average of 11,000.00 dollars monthly.

Money gained after the expenses are deducted is used as plough back into the business. Previous loans received from Zidisha has been very instrumental in my business and help to reduce the burden to raising capital for my input. I aim at increasing my loan limit to receive very huge loans from Zidisha. Thank you

Loan Proposal

This loan will be used to purchase some slates of wood for the communities and contractors I supply. I will use the loan to purchase the wood logs and pay also for their processing in other to supply these processed woods to companies, contractors and many of the local people for building houses and processing into furniture and other goods.
Basically I supply about 10 communities with my products (slates of wood logs) for their constructional works and furniture. Averagely, I am able to sell 100 slates of the wood to each community every week. This means am able to sell averagely 1000 slates sold in the week to these communities. I also supply averagely 500 slates of processed woods to companies and contractors in a week. This means averagely am able to sell 1500 slates of processed woods to the communities and contractors.
Each slate of wood cost 2.50 dollars (10 Ghana cedis) which means I make a sale of 3,750.00 dollars when 1500 pieces of the slates are sold in the week and an average of 15,000.00 dollars monthly.
Money from this loan and profit gained from previous sales will be used to purchase these wood logs from the farmers and chain saw operators in order to make the business move on. I aim to increase my limit in order to expand the business greatly. I am very grateful for the previous efforts to fund my loan and trust that you help me with this loan as well. Thank you

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Loan Info

Project Type

Classic Loan

Disbursed amount

$633.50

Date disbursed

Jan 14, 2016

Repayment status

On Time

Projected term

4 months

Cost to entrepreneur

Service fee: $16.08

Joel opted to pay $50.64 into the Zidisha Members Loan Fund in return for a higher starting credit limit.

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