Entrepreneur
Name
Oppong
Member since
March 2015
On-time repayments
113 installments • 58%
About Me
When i was a child i was really the type who didnt like to go to school,i really loved to play around and help my mum at the market,but with the encouragement of my parents and advise i began to develop some love for formal education.I started my childhood education at holy spirit junior high,i left that school when i was in class six and completed in good news baptist in 2003.i continued in sunyani secondary school and completed in 2006.i latter went to university for development studies in 2008 and completed in 2012.sometimes I have to starve my self in other to save some money to add to what my parents will give.this was all because at that time my father was on pension.i needed to plan very well in other to survive after school,i then have to capitalize on my national service pay.I really cut down my expenses and also have to starve my self to accumulate some money.The accumulated money was then used to request for a loan from the bank I was saving.i stared my tire shop when I was given the loan,it wasn't easy starting but I had to manage.The only unique thing about the land i live on is that,its a peaceful environment for business.more over i dont have children.my main hobby is exploring the internet for opportunities.
My Business
The name of my shop is felbee tyres and rims shop.This is to tell you that i deal in home second hand car tyres and rims.i buy one home used car tire 10$ and sell them to consumers at 14$·They are very useful and have a high demand because the price garb between the new and the old tyres is very wide,of which many people cant afford the new once,consumers have know other options than to go in for the home second hand.i chose this kind of business because of it high demand,profit and less expenses.how over it has know time limit to expire,that mean there is no pressure on you when market slows down.it cost me about 300$ starting the business.i intend to use my profite to expand my business and at the same time invest some.I will also use some of the profit to pay my little brothers school fees and at the same time pay my house bill,including my parents own.
Loan Proposal
when i receive the loan, i will buy additional 25 car tires for my shop, one tire cost 5$.Each i term will be sold at 8$, that clearly shows that i will earn 3$ as profit on each iterm or car tire i sell. with this profit am going have money to help pay my junior brothers school fess and also pay my house bills. Buying additional good helps me to be at a good service to my customers because am able to provide the with all the necessary things or good they will need, making thier work also joyful. i really expect my profit to increase by 10%,because i will be able to buy more goods than what i bought earlier. i will be greatfull if the fund my loan.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$296.00
Date disbursed
Jan 31, 2016
Repayment status
On Time
Projected term
4 months
Other loans
Lenders
I want my "My loans" page back, Qatar
Taiwan
United States
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