Selling hand-woven kente cloth
John
Kumasi, Ashanti Region, Ghana
100% repaid
Entrepreneur
Name
John
Member since
October 2015
On-time repayments
119 installments • 100%
About Me
l was born at Bonwire, Ghana, where l grew up and went to high school. l settled into selling of Kente clothes when l couldn't continue my education due to my financial problem. l started my own business after raising a small amount of money. l rented a store where buyers usually come to buy Kente in person or can order in bulk. Kente weaving is a traditional occupation of the people of Bonwire, particularly for the males. Traditionally, most people at Bonwire are automatic weaver of Kente clothes. It's very interesting. Other than that, l am a footballer and I enjoy it very much.
My Business
l engage in retail sale of Kente cloth in my store. Kente cloth is a colorful masterpiece art work which is mostly used by people during festive seasons such as wedding, engagement, naming ceremony, festivals and even funerals. I chose to sell Kente because it is a native occupation and l know the know-how and am adroit at Kente production and sales. Prices of Kente clothes usually range from $50.76 to $507.63 equivalent to GHs 200 to GHs 2000 depending on the complexities of the designed employed in the clothes. l will use the loan that Zidisha will provide to buy more Kente from Kente producers. Kente is a type of silk and cotton fabric made of interwoven cloth strips and is the icon of African cultural heritage around the world.
The amount will be specifically used to purchase six sets of clothing in the different combination category. Each costing $ 126.91 (GHs. 500). This will give me more advantage by increasing my capital for ready market business. yes indeed the loan is for business and a sale of a cloth could give me a profit of $20.31 (GHc. 80) for each "
Loan Proposal
l will use the loan to purchase the kente cloth fro the kente weavers. As a retailer of kente, l will buy several classes of the kente ranging from triple weaving to double weaving to single weaving. l will buy 5 different sets of the triple weaving. each set cost $157.87 (GHs 700) = 5 * 157.87= $789.35 for the triple weaving
l will use the rest of the money to purchase the double weaving type which is less expensive as compared to the triple weaving. each double weaving cost GHs 400 ($ 90.21).
In all, GHs 500 ($112.76) profit is expected to be made after the sales of these kente cloth.
Thank you
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Loan Info
Project Type
Classic Loan
Disbursed amount
$1,192.00
Date disbursed
Sep 25, 2017
Repayment status
On Time
Projected term
8 months
Other loans
Lenders
United States
Jake Gibson and Beverly Picardo
San Francisco, United States
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