Loan to establish a block molding foctory
Richard
Tema Community 25, Ghana
31% repaid
Entrepreneur
Name
Richard
Member since
January 2016
On-time repayments
102 installments • 43%
About Me
My name is Richard Benson 32 years of age who completed st Thomas Aquinas senior high school in the Greater Region of Ghana in 2001 but i was not able to further my education due to financial challenges .
my father was very good in paying my fees at school and any other needs aside the school fees but unfortunately he pass away very that coursed me to drop out from schooling.
After few years my mother decided to put me into apprenticeship to learn a trade in masonry.
After three years i graduated to become a professional mason.
currently am working with construction company called OAS construction where i worked as mason. am married to madam Bernice a Azu with one child,often go to the beach on holidays to have fun and make new friends.
My Business
My dream is to start a block molding factory in my community because the demand of housing is very high and therefore the demand for blocks is also high simply because it is a new site.
i choose this type of business because it is a fast moving and also provide materials for building of houses,churches,schools etc.
i intend to use revenue generated from the business for my children school fees for them to get to a greater height because i could not go further in terms of education and also reinvest in growing my business.
Loan Proposal
I will use my current loan to start preparatory works like hiring of land where i will set up my business.
secondly i have to connect Electricity to the site where the business will be establish then after buy the block molding machine.
i will also buy tools like shovels,rain-boot, helmets and nose masks.
After buying all these items i also have to buy materials like sand,cement,pallets and poly tank for the storage of water for the project.
All these tools and materials are estimated to be 3000dollars. i will also make maximum profit of 60 percent every week am to set up these business because the demand of blocks in my community is very high.this project will support my family and i and also create jobs for the youth in the community .
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Loan Info
Project Type
Classic Loan
Disbursed amount
$200.00
Date disbursed
Jan 26, 2016
Repayment status
Late
Projected term
147 months
Lenders
Austin, United States
Fontvielle, Monaco, Yemen
United States
United States
United States
Norway
Netherlands
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