Inventory of tyres and car spare parts for resale

Jamal Deen

Mamponteng, Ghana

31% repaid

Entrepreneur

Name

Jamal Deen

Member since

January 2015

On-time repayments

38 installments  •  82%

About Me

I'm a Ghanaian and Jamal Deen is my name. I have lived with my elder brother at Mamponteng from age 6 since we lost our parents at that time. My Brother is a mechanic and has been the one who took care of me through my upper primary education to Junior high school. It got to a point in time that my brother found it difficult to cater for me when I was about to complete my Junior High School because he was only an apprentice not a master on his own. I decided to go to work with him so that the little I get, i can use to support myself and it turn out to be a great success for my brother and I. When I completed Junior High School, my brother set up his own business and I also turned out to be a full time worker with him. This made me accumulate enough money which I used to cater for myself through my Senior High School. Through the experience I gained, I was there alone at the shop one day when a work came and to my surprise i was able to solve the problem without any difficulties and I was greatly amazed.

My Business

Now I have set up a business on my own, not that big but quite encouraging, I am into the retail of products used in cars like brake fluids,rim for tires, second hand car tires and others. Because cars are always in use and we can do without them, it is necessary for the owners of private cars and commercial vehicles to keep their cars in a good condition to prevent damaging and this has caused to raise the demand of these good high on the market. I chose this good because of the little experience I have in mechanics, i know how they work and the ones which the customers will buy quickly. On a normal base, any amount you invest into this business, you are likely to get about 20-30% profit from it. Most of the time I use the profit to support myself in my University education.

Loan Proposal

I would like to use this loan to bring in more car spare parts like wipers,first aid kits and fire extinguisher in cars. I will use $150.00 for these items. I would then invest the rest of the money into purchasing reflectors for car use.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$192.75

Date disbursed

Apr 14, 2015

Repayment status

Late

Projected term

7 months

Cost to entrepreneur

Service fee: $4.94

Other loans

Lenders

Pomaikai

Jersey City, United States

JG

Jake Gibson and Beverly Picardo

San Francisco, United States

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