Entrepreneur
Name
Stephen
Member since
January 2017
On-time repayments
28 installments • 96%
About Me
My name is Stephen Boadi Baah. I come from Kukuom in the Brong Ahafo Region of Ghana. My parents are both Ghanaians. I am the first of six children of my parents. I started my education at kukuom Seventh Day Adventist school where i sat for my basic education certificate examination and got distinction. After my basic school education i went to Bekwai SDA senior high school for my high school education. Due to financial constraints i could not made it to the university even though i made excellent grade in the high school exams but i am still trying hard to make some money to continue my education at the tertiary level. I lost my dad at an early age and my mother too was jobless and this has really impacted heavily on our survival and well-being.
I worked at a restaurant for years to raise money for my high school tuition. I really suffered to put myself through high school and this was made possible through the benevolence of some people and by dint of hard work.
I live in a farming community and there are abundance of food. I decided to venture into restaurant business because there are readily available raw materials in my area.
I want my children to get the best form of education so that they can contribute their quota to the socio-economic development of Ghana and the world at large.
I like reading novel and preaching the word of God.
My Business
I sell all kinds of drinks and operate a mini restaurant. My customers are many and i make enough revenue from my business. I chose this business because it gives me much revenue to feed my family and myself and the raw materials are readily available.
This business is the most lucrative and income generating local business in my town and i make enough money from it to feed my poor family and also i save some money for my further studies in future. I speed about 500 to 600 US Dollars of cash to procure the soft drinks and the foodstuffs. I make a profit margin of 300 dollars when i spent the the mentioned amount of money. I reinvest the revenue in the business and and save part of it to further my education. I also use part of the revenue to pay my siblings school fees so that they can be in school without being sacked from school for non payment of school fees.
Loan Proposal
The loan amount would be chanelled into the procurement of the needed and necessary inventories to help lure customers to shore up sales. The money would be used to buy all the necessary materials to keep the restaurant in competition with others.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$93.00
Date disbursed
Jan 17, 2017
Repayment status
On Time
Projected term
7 months
Other loans
Lenders
United States
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