Entrepreneur
Name
Bright
Member since
March 2015
On-time repayments
133 installments • 73%
About Me
My name is Bright Ofori Boateng. I come from Kwahu in the Eastern region of Ghana. I started my basic education at Cherith preparatory school in Accra and further moved to Nkwatia Secondary School where I had my secondary education. I studied business because I had a lot of passion for the course and business itself. Due to hardship in my family, I sometimes have to raise money to pay my own school fees and cater for myself and for the family. I have been doing business since then to earn a living. Although I am not married, I have siblings I cater for and all add up as a source of inspiration and joy.
My Business
I am into plantain chips with two varieties that is, ripped plantain and unripe plantain. The demand for the chips is very high because it serves as a food supplement for people. The demand keeps rising as plantain is in stock at the market. Basically, I have ten boys who sell the quantity of chips in traffic and toll booth across the country of Ghana. Because of the demand of plantain, some of the boys have to stay home because the capital to buy a lot of plantain and other stuffs is inadequate. I intend to use the profit to feed myself and use part also to pay my bills.
Loan Proposal
I will use the loan to buy additional stock of plantain for the company. Also, I will buy a sealing machine to replace the use of candle to seal my products (Curb health hazards). Several cooking oil would be bought in order to increase production and use part of the loan to expand some of our assets which is quite expensive. I hope the lender can help my loan in make a living.
Breakdown:
Loan = GHC 349 ~ $89
Sealing machine..............1 @ 150GH ~ $38
Sack of plantain............1sack @ 140GH ~ $ 36
Veg. Oil (25Kg)..............1 gallon @ 50GH ~ $13
The rest would be invested into transportation of the materials listed above.
After production, a quantity of 100 chips would be produced which would be sold for GHC5 ~ $1.3
A total of $130 would be raised after sales.
Therefore profit = $130 - $89 = $41 ~ GHC159
The profit would then be ploughed back into the business to increase production and labour(employment).
Please help me fund this loan to increase production and growth of my business.
Feedback
Positive
None
Neutral
None
Negative
None
Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Apr 8, 2015
Repayment status
Late
Projected term
31 months
Lenders
United States
Ask Bright a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.