Funds to expand clothing business

Entrepreneur

About Me

My name is Samuel Okai. I'm 19 years old. I am the second of five children of my parents. We live at Madina. I graduated from high school recently and I hope to further my education.
The rough times began in middle school. Became worse in highschool. Due to the hardships we faced at home life at school became tough.
Things became a little better for me when a friend of mine introduced me to the selling of clothes business. He had a sister in china who would bring clothes thrice a year for us to sell. I survived on that till I graduated from high school.
My country,Ghana is located in West Africa,it is a very calm and hospitable country.
For leisure i like to read novels and windowshop,hoping that oneday i would have enough money to buy all i need.

My Business

I deal in the sale of clothes. Both male and female. I decided to venture in this business because the youth love fashion and in Ghana clothes sell very fast because they arent too expensive.
I chose this business because its fun and lucrative. I make new friends from my clothes business , and because i deliver the clothes to clients specified location i started getting calls from friends of friends. Hopefully my business would grow larger.
I used to make not more than $10 profit a month. With time the profit increased and right now my current profit is about $50. My friends sister used to give me the clothes on credit to sell, but since i started making some money my typical cost of securing the goods is about $30.
I usually use my profits to reinvest in my business so that it develop enough to send me through my tertiary education then i use a little on taking care of myself.

Loan Proposal

I will use this loan to further expand my clothing business till I get a shop of my own.
I will buy clothes to resell. Male clothes for $45 and $55 for female clothes.
This venture will help me in taking care of my school needs. Also it will help in creating job opportunities for some of the youth in my vicinity. I recently employed a colleague at school and I hope to employ more people.
I hope to make about %50-60 profit on this business.

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