Gold business

Sallah

Akatsi, Ghana

100% repaid

Follow Sallah

How it Works

Entrepreneur

Name

Sallah

Member since

April 2018

On-time repayments

10 installments • 80%

About Me

I'm a good student during my childhood from 5years and my parents were pride of me, the exactly thing that my parents happy about me is that during my time in school I do not bring any trouble to them, I returned back home exactly closing hour from the school, the only complaint that my parents use to complained about me is that sometimes I love to play a lot when we have vacation,

My Business

Am a small scale alluvial gold dealer.
The alluvial gold is use for jewelry, neackles, ring etc..,
I have choose this business because is moving fast in the market, gold is a kind of goods that have a high demand in the market, presently I have a demand from some numbers of buyers who are Goldsmith, for cash and carry delivering in regular bases, that is why I'm seeking for the loan to speed up the delivering, in which I can start made the repayment to the lender in few weeks from the date I receive the loan, we always like to go to the bush with enough money to be able to buy more goods, before returning to the capital city, because the distance to the mining village is very far.
The typical cost of the loan is ($5000) five thousand dollars
My revenue is 33.3%, I use to buy one Pound of gold from the local miners in the bush at rate of $200 and resell it in the capital city to the end buyers or exporters at rate of $300 or $350, it depend the raising of the market price, we don't follow the market price when we go to buy from the miners in the bush, because sometimes the local miners in village use to request for iPhone, rechargeable light or quality alcohol drings in exchange of gold, so we make a good profit from the business,
I use my benefit for reinvestment in growing the business, and some part for my family my need, and orphanage

Loan Proposal

Am gonna use the loan to buy gold in small quality and resell it and get profit, I'm buying from 20 Pam up, one pam is cost $200 from the small scale miners in the bush, my profit depend the high quantity I buy, because I resell it at rate of $300 above depend market price.