Loan to buy more stocks and also to establish a large shop

Adjei Prince

Berekum, Ghana

100% repaid

Entrepreneur

Name

Adjei Prince

Location

Berekum, Ghana

On-time repayments

14 weekly installments  •  100%

About Me

I am called Adjei Prince, 30 years of age and a graduate from Kwame Nkrumah University of Science and Technology, Ghana. My qualification is in Political Science, but i learnt Business as well at the university. I am a Ghanaian, who hails from the Brong Ahafo Region of Ghana, precisely Jinijini in the Berekum District, a strategic place for my business. I have great interest in business and as such started my business whilst i schooled especially during long vacations. I have three other siblings and i live with my mother, Georgina Adjeiwaa, a single mother. I am the first born child to my dear mum.

My Business

My business is about selling jewellery, watches, deodorants, hand bands, bracelets, necklaces , rings, hair clips and hair pins, toiletries, etc. I have advertised them in front of my house and sell them there. I also go on trek , from one town to another and from house to house as well. The business is very profitable because people always purchase different items of the same brand at a time and repeat purchasing them. The demand is high in my town because of the innumerable high school students residing there.

Loan Proposal

Hello there. It has been a trend here in Ghana that people should go to school and after graduating should search for jobs. Contrary to public opinion, i want to own and work in my own business and that is why i need the loan. Besides, there are no jobs in Ghana and even the government has adopted a policy to employ no one into its institutions this year. My business is about the sale of jewellery, necklaces, rings, deodorants, watches, etc. After each day's work i get more than $40 profit. For example, a necklace purchased at $10 could be sold at $15. Normally, i sell them in front of my house because i do not have a shop. I would like to get this loan so that i can enlarge the business and also to maximize profit by establishing a shop and stock it with more of these items at a commercial and strategic place in my town. The business is very profitable in my town because there is a high demand of these items due to the innumerable high school students that base there. There is much profit and repayment will be easy. Thank you in advance.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$106.33

Date disbursed

Jan 19, 2015

Repayment status

On Time

Projected term

6 weeks

Cost to entrepreneur

Lender interest: $106.33 at 7.10% annual rate over 1 month = $1.00

Service fee: $1.00

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