Capital to invest in clothing sales

Samuel Okai

Madina-accra, Ghana

100% repaid

Entrepreneur

Name

Samuel Okai

Location

Madina-accra, Ghana

On-time repayments

141 weekly installments  •  48%

About Me

My name is Samuel Okai. I'm 19 years old. I am the second of five children of my parents. We live at Madina. I graduated from high school recently and I hope to further my education.
The rough times began in middle school. Became worse in highschool. Due to the hardships we faced at home life at school became tough.
Things became a little better for me when a friend of mine introduced me to the selling of clothes business. He had a sister in china who would bring clothes thrice a year for us to sell. I survived on that till I graduated from high school.
My country,Ghana is located in West Africa,it is a very calm and hospitable country.
For leisure i like to read novels and windowshop,hoping that oneday i would have enough money to buy all i need.

My Business

I deal in the sale of clothes. Both male and female. I decided to venture in this business because the youth love fashion and in Ghana clothes sell very fast because they arent too expensive.
I chose this business because its fun and lucrative. I make new friends from my clothes business , and because i deliver the clothes to clients specified location i started getting calls from friends of friends. Hopefully my business would grow larger.
I used to make not more than $10 profit a month. With time the profit increased and right now my current profit is about $50. My friends sister used to give me the clothes on credit to sell, but since i started making some money my typical cost of securing the goods is about $30.
I usually use my profits to reinvest in my business so that it develop enough to send me through my tertiary education then i use a little on taking care of myself.

Loan Proposal

I will use this loan to buy more clothes and resell. I will buy clothes for females which would cost about $35,male clothes that would cost about $40 and buy a few unisex clothes at $10.
Getting this loan would send me a step closer to achieving my dream of financial independence and a chance to finish my university education.
Getting my financial independence would in turn reduce the burden on my parents.
I sell my clothes at a cheap price which in turn gives the less privileged in the society the chance to also wear good clothes and feel good.
I hope to increase my profit by 10% .

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$83.52

Date disbursed

May 2, 2017

Repayment status

On Time

Projected term

4 months

Cost to entrepreneur

Service fee: $2.67

Lenders

MarktheMormon

Sandy, Utah, United States

S

Stephan

Netherlands

Dayton

Vancouver, Canada

PG

Paul Graham

United States

J

James

United States

Craig Newmark

United States

The Zinc Team

San Francisco, United States

Humble Bundle Community

San Francisco, United States

V

Vince

Wagga Wagga, Australia

Paul Buchheit

Mountain View, United States

A

Anonymous

United States

CN

Craig Newmark

United States

JG

Jake Gibson and Beverly Picardo

San Francisco, United States

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