Abura Dunkwa, C/r. Ghana, Ghana
132 installments • 70%
My name is Jacob Arthur, a Ghanaian living in the central region of Ghana. i am 25 years old and a high school graduate. i am the first of five children. as a child, all i wanted to become was a soldier but i lost that dream and due to financial constraints . but as a man and being the first of five children, idleness is not an option that i have so i took to selling second hand clothes for a living . The meaning of this is that i have to work harder else my siblings who are in school will have to drop out from school since my moms strength alone can not do it. For now i have a dream of opening my own boutique . Having been able to save a little and am working very hard to reach that dream with a targeted year. the greatest virtue that i have learn over the years is hardworking and integrity. i love to read and play foot ball and then also engage in a lot of church activities.
i am into the selling of clothes and i can barber too very well so sometimes i swing businesses but for the past two years now i have been selling second hand clothes in my community. i take the bales and move around with the clothes, i go from house to house, and then also markets. on market days sale are always very high than the normal days. i attend markets days four times a week. these clothes are needed since is not everyone who are able to purchase the brand new ones. for every bale you sell, you make more than 35% profit . A typical second hand clothe bale cost about $60 . then out of this profit, i live on part.l..
i am into the selling of second hand clothes imported into my country. i sell them at very affordable prices to the less privileged. As of now, the entire loan if funded will be used to purchase a bale as we call it locally. a bale could contain about three hundred dresses . it is also mixed up having some of the cloth for men, women and children. sometimes too you can have specific ones for children and others for adults. i will use $60 to purchase that of the adults and $40 for a bale entirely made up of children's wear. to me as an individual, it will increase my profit margin to about fifty percent and i will be able to help my parents cater for my younger siblings as i am their elderly child. then also it will benefit the less privileged who cant afford the boutique clothes. therefore the loan will have a lot of positive effects on my life as i seek to expand and will help clothe many at low cost to them..
Jan 14, 2015
Cost to entrepreneur
Lender interest: $106.33 at 6.86% annual rate over 1 month = $1.06
Service fee: $0.38
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