Entrepreneur
Name
Bernard
Member since
October 2017
On-time repayments
5 installments • 60%
About Me
I am a young man of 28 years old. Born and had my basic education in Tema. Continued with my Senior Secondary (High School ) education in Takoradi. After which my father died of a combination of 3 chronic diseases in 2008. Life has taken a different turn since. Enjoyed in labour worker to see myself through my diploma and tertiary education. Got into business of selling empty CD to help support myself, family, sick mother and sister. Came to Techiman to do business and realised food commodities here are less expensive compared to previous areas I've lived. This business I intend will support me through my education as my dependent are more and I have no one to support me in life.
My Business
Buying and selling is a great business for most African and Ghanaian youth. Food stuff is a basic commodity of which every household consumer. However most food stuffs get damaged due to post harvest losses. I go to meet the farmers in their farms and homes, buy their products including yams, maize and cassava. Transport them to the urban areas where I sell to the market women to make some money. The business is very lucrative since the prices charged by the farmers and the prices the market women buy at makes good profit. This at the same time encourage farming and assures them of ready market. It reduces post harvest loss and makes food available to all.
Loan Proposal
The cost of food stuff in the urban areas of Ghana are high with, for example, a bag of maize selling at 140 GHS (35$)while the cost of a bag of maize from the farmer going for 100 GHS (25$)during good farming seasons. With a relative transportation cost of 20 GHS (5$)per bag , a single trip with 5 bags will make 20% profit on each bag sold. With enough money to include some more food stuffs such as tomatoes and onions in large quantities, one is positive to make more money to save for a university degree in the coming years.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$118.00
Date disbursed
Oct 27, 2017
Repayment status
On Time
Projected term
5 weeks
Lenders
United States
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