Loan to buy shoes & sandals to sell
Yeboah Herbert
Berekum, Ghana
100% repaid
Entrepreneur
Name
Yeboah Herbert
Member since
August 2015
On-time repayments
146 installments • 82%
About Me
It all started when I have to stop my university education due to money issue as the person who is paying for my school fees said he can't afford anymore so my parent have to continue from where he has left it. After this incident I went for loan and started this business on my own which I have paid it back without owning them. I want to put my business on the next level by creating a website for it so that I can reach millions of people, thus joining the online selling. I want a future where my kids will enjoy better education and to be best of what they believe in. Now I've been teaching myself how to develop Android app. So that I can develop one for my work soon.
My Business
Am into selling of executive shoes. It is mostly used by the working class and occasionally used by non working class. In my society it represent decency and gentleness. I earn profit from it as I buy it at wholesale price and sell it to my customers to earn a profit from it. I can buy a shoe of 150ghc and sold it at 250-300ghc to earn a living. I incur cost like electricity, transportation and rent. But my cashflow outweigh my cost
Loan Proposal
As Christmas is approaching, this loan will be used to purchase Christmas shoes and sandals as some Ghanaians have the mentality of buying their Christmas shoe and sandals now whiles is cheap. I hope to make more profit than before from this loan as the time is right for the business. I believe i can increase my profit to 5% and the second of the profit will be reinvested into my business and the rest will be save for future useage.
Feedback
Positive
5
Neutral
None
Negative
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Loan Info
Project Type
Classic Loan
Disbursed amount
$304.56
Date disbursed
Nov 13, 2018
Repayment status
On Time
Projected term
4 weeks
Cost to entrepreneur
Service fee: $9.24
Credit risk payment:
$55.83
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