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
As soon as I receive the loan amount of 1846,i will buy additional 40 home second hand tyres to sell at my shop. one tyre cost 16$. when am able to buy more tyres for my shop, i no for sure my profit will increase. this profit will be us to assist my parents in paying our house bill and also pay my junior brothers school fees. Moreover i will be able to meet the demands of all my customers because i will always have ready goods available for them.When am able to by this 40 pieces of tyres as one cost 16$,i will later sell one tire for 20$, my profit on each tire will be 4$.i no i will surelly get abt 30% profit increment. Am look forward that my loan will be funded.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$954.28
Date disbursed
Jul 11, 2016
Repayment status
Late
Projected term
64 months
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