Inventory of ladies' handbags

Richard

Obuasi, Ghana

100% repaid

Entrepreneur

Name

Richard

Member since

April 2016

On-time repayments

146 installments  •  49%

About Me

Born and raised in Obuasi, Ashanti Region of Ghana, I have always loved this town for its business opportunities it creates. At elementary school, I developed an intense enthusiasm for business management and entrepreneurship. So I pursued business electives as my course of study at high school and graduated with distinction mostly due to my urge for trade. Coming from a less privileged home, I still overcame the challenges of spending and saved quite an amount of money to realize my dreams of becoming a renowned businessman in my town. Though it has not being all roses but I have developed a philosophy of saving more, reinvesting more and expecting more. This philosophy has helped me throughout these years.

My Business

Bags retail has being my business since graduating from school. I conceived this business idea whilst still a student. This was due to the fashion trend that hit the school and the nation at large. Ladies would prefer once daily meal with luxurious wardrobe to a less-fashionable three square meal a day. After graduating, I commenced this ladies bags business with the little savings I had accumulated over time. With a 20% profit at start, mainly due to the high demand of the bags, I knew straight ahead that with a high business capital I would soon become a big businessman. Though supporting my little siblings, I always manage to reinvest at least 55% of the business profits.

Loan Proposal

With high prospects for my bags business due to its inelastic demand, and through your benevolent lending I have positioned my business to a standard I much appreciate today. And as strength and growth come only through continuous effort and struggle, I seek a third loan of about $500 to help me outspread my business which will bolster my profits by at least 30%. With your lend-lease, am certain you can put a smile not only on my face but likewise on the faces of the whole family that depend on my livelihood. Thank you for your benevolence.

Feedback

None

None

None

Loan Info

Project Type

Classic Loan

Disbursed amount

$505.00

Date disbursed

Feb 2, 2017

Repayment status

On Time

Projected term

5 months

Lenders

Paul Buchheit

Mountain View, United States

PG

Paul Graham

United States

Craig Newmark

United States

The Zinc Team

San Francisco, United States

Humble Bundle Community

San Francisco, United States

A

Anonymous

United States

Paul Buchheit

Mountain View, United States

M

Mary

United States

A

Anonymous

United States

JG

Jake Gibson and Beverly Picardo

San Francisco, United States

Ask Richard a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.

Loading...

Loading...

Loading...