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 the high prospects for my bags business due to its inelastic demand, and through your generous lending I have positioned my business to a level I much appreciate today. And as strength and growth comes only through continuous effort and struggle, I seek a fourth loan of about $755 to help me expand my business. With this loan fund, I believe my profits will increase to about 30% and with all certainty I know it will put a smile not only on my face but also on the faces of the whole family that depend on my livelihood. Thank you for your benevolence.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$755.00
Date disbursed
Aug 7, 2017
Repayment status
On Time
Projected term
42 months
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Summary
Amount repaid
$754.53
Amount remaining
$0.00
Date repaid
Feb 24, 2021
Status
Fully repaid
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| Oct 1, 2017 | $47.91 | Nov 3, 2017 | $47.91 |
| Nov 1, 2017 | $47.91 | Nov 17, 2017 | $47.91 |
| Dec 1, 2017 | $47.91 | Dec 15, 2017 | $47.91 |
| Jan 1, 2018 | $0.00 | ||
| Feb 1, 2018 | $23.95 | Feb 1, 2018 | $23.95 |
| Mar 1, 2018 | $23.95 | Mar 24, 2018 | $23.95 |
| Apr 1, 2018 | $23.95 | May 2, 2018 | $23.95 |
| May 1, 2018 | $23.95 | May 15, 2018 | $23.95 |
| Jun 1, 2018 | $23.95 | Jul 2, 2018 | $23.95 |
| Jul 1, 2018 | $23.95 | Sep 1, 2018 | $23.95 |
| Aug 1, 2018 | $23.95 | Oct 4, 2018 | $23.95 |
| Sep 1, 2018 | $23.95 | Nov 5, 2018 | $23.95 |
| Oct 1, 2018 | $23.95 | Dec 7, 2018 | $23.95 |
| Nov 1, 2018 | $23.95 | Jan 7, 2019 | $23.95 |
| Dec 1, 2018 | $23.95 | Mar 5, 2019 | $23.95 |
| Jan 1, 2019 | $23.95 | Apr 1, 2019 | $23.95 |
| Feb 1, 2019 | $23.95 | May 6, 2019 | $23.95 |
| Mar 1, 2019 | $23.95 | Dec 6, 2019 | $23.95 |
| Apr 1, 2019 | $23.95 | Apr 3, 2020 | $23.95 |
| May 1, 2019 | $0.00 | ||
| Jun 1, 2019 | $0.00 | ||
| Jul 1, 2019 | $0.00 | ||
| Aug 1, 2019 | $0.00 | ||
| Sep 1, 2019 | $0.00 | ||
| Oct 1, 2019 | $0.00 | ||
| Nov 1, 2019 | $0.00 | ||
| Dec 1, 2019 | $0.00 | ||
| Jan 1, 2020 | $0.00 | ||
| Feb 1, 2020 | $0.00 | ||
| Mar 1, 2020 | $0.00 | ||
| Apr 1, 2020 | $0.00 | ||
| May 1, 2020 | $11.98 | May 3, 2020 | $11.98 |
| Jun 1, 2020 | $11.98 | Jun 7, 2020 | $11.98 |
| Jul 1, 2020 | $11.98 | Jul 5, 2020 | $11.98 |
| Aug 1, 2020 | $11.98 | Sep 1, 2020 | $11.98 |
| Sep 1, 2020 | $11.98 | Oct 23, 2020 | $11.98 |
| Oct 1, 2020 | $0.00 | ||
| Nov 1, 2020 | $11.98 | Oct 30, 2020 | $11.98 |
| Dec 1, 2020 | $11.98 | Nov 24, 2020 | $11.98 |
| Jan 1, 2021 | $63.48 | Jan 15, 2021 | $63.48 |
| Feb 1, 2021 | $63.48 | Feb 1, 2021 | $11.98 |
| Feb 3, 2021 | $51.50 | ||
| Mar 1, 2021 | $40.72 | Feb 24, 2021 | $40.72 |
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