Expansion of satellite installation shop
Frederick
Techiman, Ghana
100% repaid
Entrepreneur
Name
Frederick
Member since
March 2015
On-time repayments
26 installments • 42%
About Me
I am Frederick Ankamah. I had my primary school education at Miracle Preparatory School in Sunyani the Brong Ahafo regional capital.After my junior high school, I moved on to Berekum Senior High.Schooling was not easy because I had to combine helping my mother at the market with her petty trading with learning.Through these difficulty I thrived and by the grace of God made it to the University.I have completed as a professional teacher and how teaches at a secondary school in Techiman. I am a very sociable person and accept everyone as my own brother or sister.Two years down the line, I started my own business through the little savings from my monthly salary. One unique thing about the area I am working and the country Ghana as a whole is that sources for funding business is very limited. So to start a business venture on your own demands a lot of self discipline and dedication.My hobbies as a young man include watching football matches, making friends and reading.
My Business
I started my business barely two years after I completed the university and started working.Out of the little savings from my monthly salary I thought it quite expedient to enter into a lucrative venture.I therefore opted for the selling of decoders and satellite installation.My going into this business was championed by the very fact that most people in Ghana were and as a matter of fact are now changing of the old system that existed to the new digital kind of transmission.This line of business has become lucrative due the interest of the masses especially the youth in local and international sports that are shown on the various channels.
With my starting capital, I was able to purchase only ten pieces at the total cost of one hundred dollars equivalent as of the time.Now i am just only to purchase twenty pieces which is not able to meet the teaming demand of customers.The accrued profits is reinvested in the business.More over I am a monthly earner and will use part of my earnings to repay the loan when is approved and given out.
i
Loan Proposal
I intend to expand my shop if this loan application is granted.The purchasing of additional decorders with the first loan i contracted has increase the demand of the decorders.It is against this backdrop that i intend to contracting this new loan.we will be able to buy at most three decorders and their accessories at the cost of dollars 175. If am able to buy the decorders i will be able to maintain the goodwill and retain my costomers as well since costomers will be given onward service whenever they demand for them. The expected profit can be used to buy one additional decorder which will help boost the business.
Feedback
Positive
None
Neutral
None
Negative
None
Loan Info
Project Type
Classic Loan
Disbursed amount
$180.00
Date disbursed
Jul 3, 2015
Repayment status
On Time
Projected term
6 weeks
Other loans
Lenders
I want my "My loans" page back, Qatar
Ask Frederick a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.