Loan to buy wardrobe and shoe racks to sell

Richard Aduonu

Gomoa Pomadze, Ghana

33% repaid



Richard Aduonu


Gomoa Pomadze, Ghana

On-time repayments

4 weekly installments  •  100%

About Me

My name is Richard Aduonu, I come from Agona Abodom. I attended basis school at Assin Amoabin DC primary school and completed on the year 2006. afterward i furthur my education to senior high school and completed on the year 2009. When i completed i decided to start doing business small because i had no support to go to senior high school, so i started selling radios, torchlight, batteries, polish and many more. Through that i was able to raise shop from it and has been making money from it through saving some portion of the profit. Moreover where i stay there is a festival called Gomoa two weeks. This is normally celebrated two weeks after christmas, during that period many people from different places come there to watch and entertain themself. I will like to make some of my children to do business , some doctors,lawyers etc. I will like to end here with my letter.

My Business

I will like to discribe the business i do and how i will repay the loan. First of all i sell things like radios, standing fans, cylinder irons, extension boards and many more. so i will use the income i get or the profit to pay back the loan. The goods are sell are useful because it is something everybody need especially the students and the lecturers. My capital is about twelve thousand Ghana cedis. I use some part of the profit to invest in the business and feed on some and also use some to pay my house rent and my bills as well. I will like to end here with my letter and i hope my loan will be granted quickly. THANK YOU.

Loan Proposal

My name is Richard Aduonu, I will like to use this opportunity to discribe how am going to use the loan, first of all I will use some part to buy Plastic wardrobes to sell in the shop, it is one of the things the customers ask for everyday, Secondly I will use the rest of the money to buy shoe racks to sell, it is also one of the product which has more demand and I know if I buy them they will buy quickly and my profit will also increase. I will my loan will be funded quickly. Thank you.

Income Source

I will like to explain how am going to repay the loan back quickly in this economic challenges deal to the impact of the covid-19, first of all I will continue to make savings from the profit that will come from the business so that I will get some to repay the loan. Secondly I will also reduce expenses so that will also help me repay on time. Thank you







Sandy, Utah, United States

Loan Info

Disbursed amount


Date disbursed

Jun 7, 2021

Repayment status

On Time

Projected term

3 weeks

Cost to entrepreneur

Service fee: 5% of $80.40 = $3.89

Credit risk payment: $12.02

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