Loan to expand my business
Solomon
Accra, Ghana
$0 to go
100% funded of $74 goal
0
days left
Entrepreneur
Name
Solomon
Member since
January 2018
On-time repayments
9 installments • 56%
About Me
I'm Solomon Assimeng Kwarteng from Ghana. I'm 27 years of age and the last born of my parents, I currently hold a bechelor of science degree in Agribusiness Management & Finance. I am of the convection that entrepreneurship is the backbone behind every successful economy. During my University education I started few Agribusiness projects (Apiary for honey production, training of farmer on mushroom production) which really helped me financially during my stay in the university. I'm always looking for ways and privilege to develop myself so as to make good use of opportunities when they arrive, my motto have always been "if it must be done it must be done well"
My Business
I am into the production of fresh yoghurt, I package the yoghurt in 200ml and 350ml bottles with the brand name new era foods. Because it is a young business i'm looking at gaining market spot with less expensive and quality products, which means my profit margin is minimal. I sell about 80% of my product on the street by hiring people to sell it in the traffic and other public places and I distribute the remaining to nearby drink shops. Because my product is of good quality and less expensive it's demand is increasing. I also organise training workshops for people on how to produce mushroom and also set-up apiary for honey bee. I again have a training sections that targets only farmers, I train them on the importance of keeping farm records and also the effective and efficient ways of keeping these records. My aim is to help these farmers to see farming as a business but not a way of life
Loan Proposal
I want to use the loan to purchase deep freezer to help increase my fresh yogurt production. Fresh yogurt needs to be kept under low temperature always. Increasing production implies increasing revenues sales. In order to increase production measures are suppose to be taken to make room for storage available (that is deep freezer must be available before increasing production). Brand new deep freezer in Ghana will cost about 222 dollars. i already have about 133 dollar and i need about additional 100 dollars to purchase the deep freezer.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$74.00
Date disbursed
Jan 6, 2019
Repayment status
Late
Projected term
1 week
Other loans
Lenders
United Kingdom
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