Loan to expand my clothing & credit business
Charity
Sunyani, Ghana
100% repaid
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
My able lenders, this is the 5th time i am coming before you seeking for another loan.I feel so delighted having you helping me to have my own business running. My business line is lucrative with a very good rate of returns but i can only realize this if only the capital injected into the operation of the business is quite substantial. To do this, I have no help any where but to come back to you my ever reliable lenders for another support to purchase more stock in other to keep my business alive to make profit to take care of my family including our educational needs. This can equally affords me the opportunity to also create a job opportunity to others.
I promise to payback this loan without any default as i always did. I trust my precious lenders will do me a favor to fund this loan for me and I shall also pay it back with all honesty without letting you down.
Thank you so much and God bless you all.
Feedback
Positive
3
Neutral
None
Negative
None
Loan Info
Project Type
Classic Loan
Disbursed amount
$844.00
Date disbursed
Jun 18, 2016
Repayment status
On Time
Projected term
5 months
Other loans
Lenders
Hong Kong, Hong Kong
46244 Bottrop, Germany
Luxembourg, Luxembourg
Colorado Springs, United States
Newport, United States
North Carolina, United States
Nepean, Canada
Arlington, United States
Osnabrück, Germany
Heber City, United States
niedernhausen, Germany
groningen, Netherlands
Asheville, United States
charlotte, United States
Honey Grove, United States
New York, United States
South Bend, United States
Lahr, Germany
Montreal, Canada
Corona Del Mar, United States
United States
United States
Minneapolis, United States
United States
United Kingdom
Marburg, Germany
Germany
Brisbane, Australia
United Kingdom
United States
Australia
Germany
United States
United States
Wellington, New Zealand
Ireland
Ask Charity a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.
Margaret May 29, 2017
Loading...