Loan to buy shirts, shoes, etc., for my shop

Entrepreneur

About Me

I was born in Dormaa Ahenkro the Western part of Ghana where I had both basic and secondary education. We were seven in our family and I was the only one who had the privilege to have University education because by then there was no money. The family at the time were peasant farmers. I decided I wanted the best of education so when I was at the Senior High School after every vacation, I used to go sell petty things like dog chain toffees. I saved some of the monies realized from these sales to pay for my school fees and to buy second hand clothes. I studied hard and passed my examination. I had admission into Teacher Training. From there I taught for about five years and Had scholarship to the university. After university I was posted to DormaaAhenkro where I have been to date. I saved part of my salary to open up a shop in Dormaa Ahenkro alongside the teaching. People in Dormaa Ahenkro are very calm people,very hardworking and because of that the place is always busy with people who want to do business. I have three children,two boys and a girl. The girl has said that she want to become a medical doctor. The second born who is boy has promised to study hard to become an Engineer. The third born also a boy is now crowning and is learning how to talk.

My Business

I sell shirts, men head cups and many different shoes. Dormaa Ahenkro is a commercial town made up of different people. Government workers are more and to buy clothes one will have to travel as far as to Berekum so I decided to go into this business. Every Tuesday of the week is a market day. Farmers and other places near dormaa Ahenkro troop in to buy and sell. Once the farmers come to sell their foodstuffs, they in turn buy other things to their villages of which new shoes and shirts form a major part of the items they buy.I entered into this business with a loan amount of Ghc5000 from one of the local micro- finances.I make sales of about Ghc150 and more on market days(Tuesdays) Roughly in a week I make a profit of about Ghc300. I use part of the profit to pay school fees,part to reinvest in the business and the rest to buy food and clothing for the family

Loan Proposal

I will like to increase the stock of items in my shop. Such items include shirts, shoes,men and women under wears,skirts,children outfits etc. I will buy thirty pieces of men shirts $23, I will also buy forty brand-new shoes $15, ladies underwear are mostly demanded so I will need hundred of them which will be close to $21, I will also buy about fifty of the children outfits $25. During market days a lot of traders come to my shop to request the above mentioned items in bulk and buying them will earn me some profits. I will be able to expand my business to the next level.

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