Expanding my phone business

Entrepreneur

About Me

My name is collins Twum Barimah, i'm a fante from the central region of Ghana. I'm 33 years of age, i completed my juniour high school education in the year 2002, i finished my seniour high school also in the year 2005, after my seniour high school educatin, things became tough for me, at that time my father felt sick and my mother's business too collapse so i decided to embark on this phone business, since i had no huge amount of capital to apply for loan, i could not expand the business so i quit until a freind gave me some money to add to the old capital, i have been using the small capital till this time.I'm methodist and also youth organiser as well.

My Business

I started this phone business with small amount of capital, i sell both china phones and android but the android ones are small so i'm planning of inreasing the quantity of the android next year, but for now i need this loan to increase the number of the china phones, so far i have about 90 china phones and 20 android ones. At first i used to repair phones and i now share a repairs shop with a freind in Ghana, i sell the phones at a road side,i will use the profit to pay my sibblings school fees and take care of my parents especially my granny who is sick.Also i will expand the business by opening a new branch next year if i get profit.

Loan Proposal

I need an amount of 570 USD to expand my business i need to stock my little shop mobile phone business is a lucrative one in Ghana especially my business location but the saddest thing is that most of my customers will come for a particular phones which mostly i don't have and this problem is gradually driving my customers away. the cost of purchasing one phone ranges between 40 USD to 200 USD depending on the brand and specifications. If I am able to raise this loan it will go a long way to boost my business expanding my customer base and above all increasing my profit to about 25% of which i can use some to take care of my mother and siblings who depends on me, and again plough back some of my profit into the business. Thank You

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