This Loan
100% Repaid

Disbursed Amount: $56.50
Date Disbursed: Dec 18, 2013
Repayment Status: On Time
Repayment Frequency: Monthly Projected Term: 4 months
Cost of Loan: $1.34
Show Cost Details

Cost of this loan

Lender Interest: $56.50 at 0.81% annual rate over 4 months = $0.19

Service Fee:

$56.50 at 5% annual rate over 4 months = $1.15

Total Loan Cost:
$0.19 + $1.15 = $1.34

About Me

I am a young man of 33 years. I completed Tema Technical Institute in 2004 and obtained a City and Guilds Certificate in Block Laying and Concreting.
Since then I have been working on contract basis as a mason on building projects.

On a typical day, I often wake up around 5:00 am to catch the first bus going to my work site. If it is
located far away I prefer to lodge on site for the rest of week, to reduce transport costs.

Currently, I am working on starting a cement sale business as an additional occupation.

My Business

My dream is to start a cement shop business and later block molding. The latter would require heavier investment so that is for the long-term.

A man I once worked for gifted to me his unused container. I intend to refurbish this for my cement shop business. This would help augment my income and make me a business owner.

Currently, I need to weld, screed and roof the container and get it ready for this business. When given a loan, I would use it for these preparatory works.

The source of income that will be used to repay the loan will come from my masonry work.

Loan Proposal

I would use the loan to start the preparatory works needed for my planned cement shop.
Currently, I need to weld, screed and roof my cement shop container and get it ready for business. I would use this loan to pay for welding costs. There are a few rusts and cracks that need to be fixed on the body of the container to make it more secure. I have spoken to a Welder located in my neighborhood and he has assured that he can do this job perfectly.

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100% Repaid