Clothing for my shop

Peter Asare

Derma, Ghana

3% repaid

Entrepreneur

Name

Peter Asare

Member since

February 2016

On-time repayments

74 installments  •  58%

About Me

My name is Asare Peter. I come from Bechem Tano South District in Brong Ahafo Region Ghana. I am 32 years of age. The food i like best Fufuo and Palm nut soup with different kinds of meat in my Junior High School in the year1999 in Bechem Roman Catholic School. I continued my Senior Secondary School in Duayaw-Nkwanta in Brong Ahafo Region Ghana and i completed in the enter into training college. Life was not easy for me, by God grace i got admission to study in training college, there i was receiving small allowances which i used it to pay my school fees. From 2006 to 2009 i obtained my Diploma in Basic Education in St. Joseph Training College in Bechem. From 2011 to 2014 i obtained my BSc. Public Health and Allied Sciences in Catholic University Fiapre Ghana. I am a professional teacher and i have taught my pupils for 5 years. I overcome the hardship when i received my first pay popularly known as Back Pay that was the year 2010. I got GHC 1,500 when you convert it to US Dollars is $400. I used my Back Pay to enter into clothing business in my small shop in Kumasi Aputuogya in Ashanti Region Ghana. Mygoal havenotbeenfulfil yet but i am trying tofulfil mygoals when iget a lot ofmoney toexpand my clothing business. The culture of my land is that everybody welcome no racism. We all eat common food and we respect each other. That is why there is peace and co-existence on my land and Ghana as a whole. My children will be Doctors in future in any part of the world. And if some will enter into my business thank God. The hobby i like best is watching football and listening to Gospel music.

My Business

The goods and services I provide is clothing which is popularly known in Ghana is African Wear. My goods are made in Ghana and it is gradually gaining grounds in the outside Ghana. These African wear is beautiful and quality. It is affordable to buy it. I used different types of colours to design it. My people wear it for naming ceremony, outdooring ceremony, wedding ceremony, funeral ceremony and party. The goodsis in highdemand because of it qualityaffordable and itnumeroususes. I have different types of colours e.g. white, yellow, blue, violet, black etc. I mean all types of colours youwant you will get it from my small shop. I chose thisbusiness because in my locality people travel to different town to buy the African wear for their ceremonies. Nobody was selling quality African wear in my locality. And you will see most of the people wearing that African wear during ceremonies. SoIdecided tobring that businesstothedoorsteps for them to buyitfromme. I brought it andpeopleinmy localitydon’thave the need to take a car to buy from the different town as they did previous. My typical cost is not stable it ranges from GHC 5, 00 to GHC 2,000. My revenue is also not stable it ranges from GHC 6, 00 to GHC 1,000. Because I don’t have more money to build large store and take moregoodsmycost andrevenueissmall. I used the same profit to paymychildrenschoolfees, investment and home rent.

Loan Proposal

I will use the money to buy clothes for my shop. I will buy Kente Clothes it will cost $200, I will buy GTP Clothes it will cost $200 and I will buy Sewed African wears top and down ten sets it will cost $100. This business is lucrative. I got a lot of profit it. Because people's buy clothes everyday for their love ones. Peoples wear it to churches, naming ceremony, wedding and their work places. I can pay my wards school fees and rent. I can take more clothes to my shop because the clothing business is booming. I want my profit to increase to Ghc3000.00

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$559.62

Date disbursed

Feb 27, 2017

Repayment status

Late

Projected term

7 months

Cost to entrepreneur

Service fee: $14.81

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