Loan to build a structure for my clothing shop

Janet

Wineba, Ghana

2% repaid

Entrepreneur

Name

Janet

Member since

May 2016

On-time repayments

33 installments  •  73%

About Me

my name is janet Boahemaa ,26 years old, am single and I live in wineba . Professionally , I am a business woman . I finished high School With good grades but cold not go to the University direct because of finance. So I worked as a sales girls dealing in both charcoal and fish for four years till I was able to save some funds to pay my school fees. I then proceeded to the Polytechnic where I read HND procurement and logistics management as my programmed of study and finally ended up at Kwame Nkrumah University of Science and Technology where I obtained my first Degree.
My Passion is in entrepreneurship and because of that, I have started I hire Purchase business which I named GOD THE KING . I love doing business and feel so fulfilled when I am in business.
I love soccer and an ardent lover of business documentaries. I equally love reading business Inspirational books and listening to business tapes.In fact, I have come very far from being an employee, therefore I am not relenting to achieve my desired dream by owning a group of companies.
I believe in the possibility theory. But however one must always uphold the virtues of honesty, sincerity, Integrity and genuineness .

My Business

l am into Hire purchase business where I deal in cloths, ladies panties, ladies under wears, ladies slippers, braziers, men singlets , boxer wears, materials etc. The name of the business is GOD THE KING.
The goods are useful and of hire demand because they are goods of necessity which human cannot do without. This is because after eating, one must cloth him or herself without walking naked.
I chose this type of business because it is most flexible for the clients to afford in terms of payment since it does not involve "cash and carry" that is instant cash payment for the goods. I give the goods to my client on credit by taking an initial deposit and with the support of my wife she goes round everyday to the clients and take the money in bits for the one month period.
The typical cost of the goods are the purchasing cost , transportation cost and delivery cost to clients since that one involve boarding a taxi from area to another. With the current cost I incur for a consignment 470 US Dollars . 400 US Dollars is the cost of buying the goods from the distributors and then 70 US Dollars for transportation to my destination of business and delivery cost to client in their various areas .
The business is so lucrative with only 0.1% risk of default for the one month period of payment . Some of the goods are bought at a unit price of 20 US Dollars , 10 US Dollars, 10 US Dollars and others 5 US Dollars and 2 US Dollars.
Therefore the revenue stream is as follows; A profit of 5 US Dollars is added to each of the unit price of the goods with the fact that the goods are given out on credit without taking instant cash and also,by taking into consideration element of inflation and price changes in the market. However there must always be an initial deposit before the products are delivered to the clients. The profit gain is reinvested in growing the business.

Loan Proposal

hello my dear lenders, i would like to request for additional funding of USD 400, my previous loan has been very productive. my business is taking better shape now. i would want to increase my stock to 70 pieces of cloths, which will cost me a lot. thank you

Feedback

None

None

None

Loan Info

Project Type

Classic Loan

Disbursed amount

$370.00

Date disbursed

Nov 11, 2016

Repayment status

Late

Projected term

60 months

Other loans

Lenders

Cloudways

Malta, Malta

ads68

Melbourne, Australia

ME

Manaal Eisa

Washington DC, United States

B

United Kingdom

PG

Paul Graham

United States

N

Nick

Greater London, United Kingdom

Surya Setiyaputra

Sydney, Australia

Craig Newmark

United States

The Zinc Team

San Francisco, United States

Humble Bundle Community

San Francisco, United States

A

Anonymous

United States

E

ericb321

Republic of Korea

WC

Walter Clarke

Phoenix, United States

Paul Buchheit

Mountain View, United States

Tyler Metcalf

Utah, United States

Ask Janet a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.

Loading...

Loading...

Loading...