Loan to expand my clothen and bags business

Charity

Sunyani, Ghana

100% repaid

Follow Charity

How it Works

Entrepreneur

Name

Charity

Member since

January 2015

On-time repayments

359 installments • 59%

About Me

About Me
I am Charity Asoelaa,26 years old, am married with a child and I live in Sunyani I finished high School With good grades but cold not go to the University because of finance. So I have started a clothing and bags business.
My Passion is in entrepreneurship and because of that, I have started this clothing business , I love doing business and feel so fulfilled when I am in business.
I love soccer and an ardent lover of business documentaries. I equally love reading business Inspirational books and listening to business tapes.In fact, I have come very far from being the struggle in poverty as an orphan , therefore I am not relenting to achieve my desired dream by owning a group of companies.
I believe in the possibility theory. But however one must always uphold the virtues of honesty, sincerity, genuineness and trustworthiness .

My Business

l am into the sale of clothing and bags that is all categories of bags and clothing which are of higher demand.
The goods are useful and of hire demand because they are goods of necessity which human cannot do without. This is because after eating, one must also cloth him or herself without walking naked.
I chose this type of business because it is profitable and are not perishable .
The typical cost of the goods are the purchasing cost ,transportation cost and roaming cost to clients because i do not have a store therefore operates from the house by going to my clients .since that one involve boarding a taxi from area to another. With the current cost I incur for a consignment 400 US Dollars . 350 US Dollars is the cost of buying the goods from the distributors and then 50 US Dollars for transportation to my destination of business and delivery cost to client in their various areas .
The business is so lucrative with only 0.1% risk of some items not bought on time . Some of the goods are bought at a unit price of 10 US Dollars , 8 US Dollars, 7 US Dollars and others 5 US Dollars and 2 US Dollars.
Therefore the revenue stream is as follows; A profit of 4 and 3 US Dollars is added to each of the unit price of the good depending on the type . However The profit gain is reinvested in growing the business.

Loan Proposal

Thanks so much my able lenders for the previous support. I wish to apply again for another support and I promise to use it for the intended purpose of expanding my business and will repay back as always done.
There has been competition in my business line which therefore needs more capital injection. I will therefore be much pleased if my loan is funded. Thank you so much and trusting on your support.

Feedback

Positive

Neutral

None

Negative

None

M
Margaret May 29, 2017

Charity paid off her loan perfectly and was a pleasure to work with. I would gladly lend to her again and encourage others to do the same.

Log in to reply • Share