Purchase a cargo tricycle for transport business
Dauda
Techiman, Ghana
100% repaid
Entrepreneur
Name
Dauda
Member since
April 2016
On-time repayments
194 installments • 65%
About Me
PERSONAL EXPERIENCE.
EXAMINATION MEANS SORROW.
Jesus (P.B.U.H) once said in the Bible “Oh God don’t put me to test”. Examinations sap things of us. They are an evil dream for us. Examinations make us to shudder and to fear for failure makes us unhappy. The desire to play as well as the tempting to enjoy seems to lose our intensity as soon as we think of examination.
Before the examination, we have to suspend all the pleasure giving activities. We talk about books and questions and discuss about answering those questions. We will make many plans which we would implement after the examinations. The “lomo” guys perch on trees to learn, Simon and co will be learning in the toilets, Adu and Annor will be running to the campus to hide in the classrooms to learn, the ladies will then be running helter scatter for these guys to help them with discussions. I would sit in the room with doors all shut down but still will hear sound from the silence.
The night before the examination is a terrible night. One dreams of questions and the question papers. In the morning, even Bruce and Simon who do not believe in God pray in front of the examination hall. One feels that everything has evaporated from their brain. One student will muse, “this question is sure shot”, another would ask, “have you prepared these questions?”. The beating of the heart increases as we enter the examination hall.
In the examination hall we pray to God or revised our questions. If the question paper is difficult, sachet of water is ordered. The candidate perspires. If it is easy, we start writing and feel happy in solving the questions. But in this case also, we really become unhappy because we fail short of time to finish our papers.
After the examination the sorrows stick to us. We talk to our friends, “I was a bit confused” or “I could not finish the paper”. Even after all the tests are over we don’t feel satisfied. We count our marks daily and think that we will get a second class. In this manner, the dooms day – when the results is to be announced. We try to find our roll numbers on the notice board. If it is missing, we have to be the taunting remarks of our neighbours, friends and relatives. In case we get through, we are never satisfied with the marks we have secured. We will often be heard saying, “There is something wrong with the examiner. Perhaps my paper has been changed”. So sorrow and examination go side by side. Rather Examination means sorrows.
My Business
I sell mobile phone credit cards, EVD(credit transfer), mobile phone accessories and I also do Mobile money transfer. Today, you can't do almost anything without the mobile phone. It is now use in many ways today, in communication, in sending, searching, receiving information and a lot more. In doing all these stuffs, you have to fuel your phone. The fuel for the phone is it's credit. I chose this kind of business because in my area or community its difficult for one to get credit to buy. One has to walk for about 3 or 4 kilometers before getting credit to buy. I also chose it because so long as cell phones, internet and other electronic device activities are concerned, demand for their fuel (credit) will always increase. It cost me about $1282.00 to establish my business. It was a gradual process. It took about 9months to construct the structure of about $435.00
I started with the credit cards and the EVD and later attached the phone accessories and the mobile money transfer. Everyday, I make a profit of about $9-10. That's about $270-300 per month. About one-third of the profit is use for reinvesting in the business, one-third goes my education and the other one-third goes into savings.
Of late, i have added tricycle business to my business and it is moving well.
Loan Proposal
My business is growing steadily and I have study the business cash flow of my business for the past years. This rainy season is a slower part of the year in my business. I am finding ways to create off-season demand through partnership with businesses by offering deals to local customers, I am planning to also move sales online. Again I'm finding an alternative business option for this slower part of the year. Currently, I have thought of running into transportation. In transportation, I have plan starting with a tricycle. We have two kinds of tricycles in the country, a cargo tricycle known as the "motor king" and a commercial tricycle known as the "kumkum Bagier". The cargo one costs about $ 1500 and the commercial or passenger one is about $3000. I have planned paying of the rest of my loan in either to raise up another loan to purchase the cargo tricycle. The cargo tricycle sometimes serves two purposes, apart from conveying goods, it also picks up passengers from the villages to the towns market and vice versa. The cargo tricycle is estimated to raise a profit of about $37 to $45 a week, this is estimated to $148 to $180 a month and$1776 to $2160 a year. Part of this profit will be use to service my interest free loan at Zidisha.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$1,445.00
Date disbursed
Jul 10, 2017
Repayment status
On Time
Projected term
23 months
Lenders
Rotterdam, Netherlands
Germany
New York, United States
South Africa
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Australia
Switzerland
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Germany
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United States
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Switzerland
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Norway
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United Kingdom
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Canada
Portugal
Phoenix, United States
Barcelona, Spain
Germany
Singapore
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Jake Gibson and Beverly Picardo
San Francisco, United States
Germany
Australia
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Antwerpen, Belgium
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Mary Jun 19, 2018
Dauda Jul 10, 2018
Will Oct 12, 2017
JimVandegriff Jul 2, 2017
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