Entrepreneur
Name
Frank
Member since
April 2015
On-time repayments
23 installments • 39%
About Me
Korang Frank is my name. I come from Berekum in the Brong Ahafo Region. I started my basic school at Methodist School in Berekum. I furthered my education from there to Sunyani Senior High School. My parents are Teachers by profession. I am the general owner of Korang’s Enterprise. I chose this kind of business because people at area need these items and that place place was where I was brought up. My place is a new site and people find it difficult to get these items hence travel to Berekum for daily goods. If am being given $100 in a week I can get $40 profit a week. I can expand my business with the help of the loan and also employ more people.
My Business
The name of my provision store is Korang'sEnterprise. I started this shop in my area because there a lot of people in that area and they will need these items for living. Ever since I started this business, people are always at my shop purchasing. The main products are rice, sugar,milk, bread, coffee, Lipton which workers rush to my shop daily for these products. Also soap, powders and detergents are sold in my shop. The reason behind choosing this business was that,people would need these items in their daily lives. If I invest let say $ 100 within a week and because people patronize the goods i can get a profit of about $40. Since my capital is very limited, additional capital may be needed to stock my shop in order to get more people to buy the items . The profit will also be used in reinvesting.
Loan Proposal
When I receive the loan, I will buy products to stock my shop. Some of the products I will be buying are detergents, soap, rice, sugar which people rush in to purchase every minute. I assure you that, I will use the money solely for it purpose in other to attract more customers and help grow my business in order to repay my loan. I count on the lenders to consider this my loan application in other for me to stock my shop with some important and needy products to be able to solve the needs of the community. I hope and know that if I get this money my profit margin will increase and will be able to generate a minimum of 41% profit within a week to pay back the loan.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
May 4, 2015
Repayment status
On Time
Projected term
2 months
Other loans
Lenders
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