Loan to expand my hire-to-purchase clothes business

Thomas

Sunyani, Ghana

100% repaid

Entrepreneur

Name

Thomas

Member since

October 2014

On-time repayments

370 installments  •  60%

About Me

About Me
I am Thomas Kwame Billa,30 years old, am married and I live in Sunyani . Professionally , I am an Accounting officer . After I completed high School I had good grades but cold not go to the University direct because of finance. So I worked as a sales boy in both charcoal and fish for four years before furthering my education . I then proceeded to the Polytechnic where I read HND Accountancy as my programmed of study and proceed to Kwame Nkrumah University of Science and Technology where I had my first Degree in Bsc. Business Administration Accounting. My passion is entrepreneurship . My desire is to owe a group of companies .

My Business

l am into Hire purchase business where I deal in cloths, ladies panties, ladies under wears, ladies slippers, braziers, men singlets , boxer wears, materials etc. The name of the business is TRUST GOD HIRE PURCHASE.
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 cloth him or herself without walking naked.
I chose this type of business because it is most flexible for the clients to afford in terms of payment since it does not involve "cash and carry" that is instant cash payment for the goods. I give the goods to my client on credit by taking an initial deposit and with the support of my wife she goes round everyday to the clients and take the money in bits for the one month period.
The typical cost of the goods are the purchasing cost , transportation cost and delivery cost to clients since that one involve boarding a taxi from area to another. With the current cost I incur for a consignment 470 US Dollars . 400 US Dollars is the cost of buying the goods from the distributors and then 70 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 default for the one month period of payment . 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 5 US Dollars is added to each of the unit price of the goods with the fact that the goods are given out on credit without taking instant cash and also,by taking into consideration element of inflation and price changes in the market. However there must always be an initial deposit before the products are delivered to the clients. The profit gain is reinvested in growing the business.

Loan Proposal
Hello my precious and able lenders, I would like to request for additional funding of of USD 104 my previous loan has been very productive. My business is taking better shape now. I would want to increase my stock to 30 pieces of cloths and also increase the other wears by 3 dozens each. This will help me make more profit since there is not more than 1% default in my sales with strategy am using. I will sincerely appreciate it if I am am funded this loan and I will definitely pay it back on time I honestly promise as i paid the first loan . Thanks you so much for your support .

Loan Proposal

Once, again I say thank you to my able lenders for the past loan granted me. Please , I need additional loan to by more goods to extend my operational areas because the business has now become very competitive and therefore need more capital injection. To make profit and to be able to grow the business I need to travel to the Villages to make sales. I will be very grateful if am granted this loan to help in the building of my dream Company and I promise to payback in time and on time without defaulting.
Thank you and trusting on my precious lenders.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$648.00

Date disbursed

Jul 23, 2015

Repayment status

On Time

Projected term

10 months

Lenders

W

WilsonLending

Atlanta, United States

C

Christian

Saarbruecken, Germany

mbunifu

San Jose, United States

BrassHat

Boston, United States

cyrus0302

San Francisco, United States

DanielStano

Nitra, Slovakia

S

SeeBiscuit

Reston, United States

snapcore

--, United States

José Antonio

Carapicuíba, Brazil

MichaelS

Canberra, Australia

lorrymac

Killough, United Kingdom

Miloslava

Praha, Czech Republic

F

FHult

Stockholm, Sweden

J

jgillard

Winchester, United Kingdom

T

Tallago3

Munich, Germany

johnandmoliehi

Canton, New York, United States

Zidisha

Sterling, United States

AnnaChristina

Pittsburgh, United States

M

mogensh

København V, Denmark

Apmay

Melbourne, Australia

ashmetry

Spring, United States

M

mason243

Denver Colorado, United States

B

briansedz

Canton, Ohio, United States

O

OneSummer

Muenster/Westphalia, Germany

C

chrisherron

Chicago, United States

F

farwest

Alamo, United States

H

hanh352

Homosassa, United States

S

SlyDoh

Tomball, Tx, United States

A

Alexandre

Sherbrooke, Canada

Boysenfam

Boulder, United States

J

JandC

Watsonville, United States

DLarson

Morris, United States

SeeMeeFi

Ontario, Canada

Myrar

Aarau, Switzerland

A

Aleks

Oslo, Norway

Z

Zippo

Berlin, Germany

C

Colesmiths

Sevenoaks, United Kingdom

D

danderson1953

Plainsboro, United States

AdvancingCompassion

San Diego, United States

N

nanax005

SALEM, United States

J

JoeSolar

Virginia, United States

mauroandmichelle

Montreal, Canada

ads68

Melbourne, Australia

dhulsterwim

LIER, Belgium

swendl

Iowa, United States

P

PetrusR

balmoral, Australia

E

erogers

Vancouver, Canada

D

dannimw

Victoria BC, United Kingdom

rhagen

New York, United States

A

Andrew22

Hopewell PA, United States

L

Ldeschae

Gent, Belgium

Winona

Yakima, United States

M

Marod

Edmonton, Canada

M

marcmesich

Kaohsiung, Taiwan

A

Andrii

Kiev, Ukraine

D

dhumble

De Pere, United States

G

greendave

Manchester, United Kingdom

A

AskTheFather

Honey Grove, United States

J

Justicar007

Longueuil, Canada

A

anonalender

Hampshire, United Kingdom

Y

Youri

Utrecht, Netherlands

P

peaceandcarrots

Hilltop, United States

H

HobbyCollector

Beach City, United States

P

Paleomagick

Eldred, United States

D

Dealbert

Stockholm, Sweden

lemonadestand

Brisbane, Australia

P

Pavane

Kungsbacka, Sweden

W

wilma95

napa, United States

N

NickLuder

London, United Kingdom

T

ThereIsNoGod

Singapore, Singapore

A

alettore

Schleinikon, Switzerland

A

andprosper

World Peace, United States

E

Esukken

Göteborg, Sweden

B

Bernsjx

Montreal, Canada

M

magnaculpa

Silver Spring, United States

somuchjackson

Boston, United States

D

DogFort1

Sydney, Australia

J

jumpfunky

Dortmund, Germany

barthez

Hamm, Germany

J

jebediahFND

Oslo, Norway

Parkmobile

Fort Bragg, United States

G

Gdrvasc

Frederick, United States

S

skohli

san francisco, United States

K

Kristell

Middelburg, Netherlands

J

jonastang

Hong Kong, Hong Kong

M

mueba

Frankfurt, Germany

G

giova

Padova, Italy

M

Mystery15

Winnipeg, Canada

S

SanderBeckers

Brussel, Belgium

Déméter&Kotler

Paris, France

A

akshu71

Ottawa, Canada

S

scottpz

branford, United States

C

Collective

Tulsa, United States

C

cktsai

United States

D

dajja

Stockholm, Sweden

E

elhh82

Petaling Jaya, Malaysia

Z

zvrk2014

Brookline, MA, United States

Shemuel

New Jersey, United States

B

BlackMoss

United States

T

thegreek1020

San Jose, United States

T

tlbtlbtlb

United States

M

misaheat

United States

Aaron85

Knoxville, United States

J

Jonas

Linköping, Sweden

E

electrolite

United States

Romojo

Paraparaumu, New Zealand

Justin

Connecticut, United States

Paul Buchheit

Mountain View, United States

M

mevans24

United States

H

Heroofcanton

United States

J

jenda

Czech Republic

P

plhughes

United States

N

NOWfund

Tokyo, Japan

poorinvest

Sandefjord, Norway

T

tiojoca

Portugal

K

Kber9156

North Parramatta, Australia

mepster

San Francisco, Ca, United States

VK

Vasily Kudrin

Moscow, Russia

A

AaltvM

Netherlands

L

luckiestmonkey

United States

B

bscent

Hong Kong

Taylor Hanna

United States

B

blambert

United States

V

vbud

United States

belvi

Hoogeveen, Netherlands

J

JonAlec

United States

S

samanthaellen

United States

H

HLCharityFund

United Kingdom

P

pfeng

United States

M

Microfinance

United States

Grant Xavier Storer

Seattle, Wa, United States

T

Tim47

United States

M

Medagan

San Franciso, United States

K

kennychit

United States

R

Rajendra

Jamkhed 413201 Maharashtr, India

C

cocolo

United States

M

maddierae93

United States

adrianz

United States

ND

Nick DG

Exeter, United Kingdom

L

LondonTown

United Kingdom

K

Kebrenagast

New York, United States

M

Mirko110775

Hamburg, Germany

T

twm3823

United States

P

pnrjulius

United States

F

Foster

United Kingdom

M

Madtowner

United States

M

MSpainhoward

United States

DonnaFarley

Adelaide, Australia

reluck

Marseille, France, France

Kyle Hoback

Omaha, United States

K

Kelly729

United States

E

Ejackson

United States

A

andreab

United States

D

djlayton4

United States

MZ

Morley Zhi

United States

SK

Sebastian Krohn

Amsterdam, Netherlands

John R

Ponte Vedra Beach, United States

Becky Thompson

Leeds, United Kingdom

M

Marco

Germany

F

Falk

Germany

E

Erich

Zurich, Switzerland

M

Malte

Munich, Germany

jinn

United Kingdom

P

Philipp

Munich, Germany

Veeti

Helsinki, Finland

Villa Maria Outliers

Montreal, Canada

RM

Robbie McCullagh

Waverton, Australia

Lauren

United Kingdom

AA

Adam Atlas

Montreal, QC, Canada, Canada

R

Robert

Berlin, Germany

Elias

Ulm, Germany

HW

Hans Weiss

Kiel, in the very north of Germany, Germany

o24kristin

Schaumburg, United States

Jerome

Switzerland

S

sa

Canada

MD

Mikey DiLalo

United States

Cathy

Melbourne, Australia

Fabian Linzberger

Vienna, Austria

WH

Walter Hill

United States

P

Patty

Colorado Springs, United States

Thomas

Basel, Switzerland

JD

Jo Dane

Melbourne, Australia

DN

Don Nichols

United States

G

GS

Germany

Kai

Nuremberg, Germany

Jason Ogg

New Zealand

DB

Dianne Bayes

Huntersville, United States

MB

michael breen

United Kingdom

JM

John Meserve

United States

Deb Fox

Melbourne, Australia

S

SP

United States

R

Ryan

United States

Thomas

Mueller, Germany

T

thedan33

Czech Republic

ward

Netherlands

Max Lettenberger

Madison, WI, United States

Julia

United States

Kevin

San Francisco, United States

Crystal

Ohio, United States

DB

Divya Bhat

United States

KD

Kent Don

United States

EB

Erica Brescia

United States

Jennifer Weber

Canandaigua, Ny, United States

Sandi Kaucic

Stow, Ohio, United States

Maren Robison

Seattle, United States

Mouhamed

United States

JD

Jeff DePree

United States

IH

Ian Hearn

United States

J

Jygge

Halmstad, Sweden

NW

Nelson Wong

United States

AH

Adam Hill

United States

BB

Ben Bellows

United States

H

Harry

Florida, United States

B

Brent

United States

Solon Brown

Singapore, Singapore

Martin Nielsen

Aarhus, Denmark

JA

Jonathan A.

United Kingdom

M

Mart

United Kingdom

JW

John Walsh

Alicante, Spain

MO

Matt Orfalea

United States

Sarah and Dave

Toronto, Canada, Czech Republic

RL

Ren Louca

United Kingdom

DL

David Larson

United States

Brad Schilling

Bunbury, Australia

J

jede

Germany

BE

Bob Ewing

United States

Paul Buchheit

Mountain View, United States

Ask Thomas a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.

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Summary

Amount repaid

$731.00

Amount remaining

$0.00

Date repaid

Apr 28, 2016

Status

Fully repaid

Repayment History

Expected Payments Actual Payments
Aug 2, 2015 $30.00 Jul 30, 2015 $30.00
Aug 9, 2015 $30.00 Aug 5, 2015 $30.00
Aug 16, 2015 $15.00 Aug 10, 2015 $15.00
Aug 23, 2015 $15.00 Aug 18, 2015 $15.00
Aug 30, 2015 $15.00 Aug 27, 2015 $15.00
Sep 6, 2015 $15.00 Sep 3, 2015 $15.00
Sep 13, 2015 $15.00 Sep 11, 2015 $15.00
Sep 20, 2015 $15.00 Sep 15, 2015 $15.00
Sep 27, 2015 $15.00 Sep 15, 2015 $0.50
Sep 26, 2015 $14.50
Oct 4, 2015 $15.00 Sep 26, 2015 $1.00
Oct 4, 2015 $14.00
Oct 11, 2015 $15.00 Oct 4, 2015 $2.25
Oct 10, 2015 $12.75
Oct 18, 2015 $15.00 Oct 10, 2015 $2.25
Oct 14, 2015 $12.75
Oct 25, 2015 $15.00 Oct 14, 2015 $2.75
Oct 22, 2015 $12.25
Nov 1, 2015 $15.00 Oct 22, 2015 $2.75
Nov 1, 2015 $12.25
Nov 8, 2015 $15.00 Nov 1, 2015 $2.75
Nov 8, 2015 $12.25
Nov 15, 2015 $15.00 Nov 8, 2015 $2.75
Nov 15, 2015 $12.25
Nov 22, 2015 $15.00 Nov 15, 2015 $2.75
Nov 21, 2015 $12.25
Nov 29, 2015 $15.00 Nov 21, 2015 $2.75
Nov 28, 2015 $12.25
Dec 6, 2015 $15.00 Nov 28, 2015 $2.75
Dec 5, 2015 $12.25
Dec 13, 2015 $15.00 Dec 5, 2015 $2.75
Dec 12, 2015 $12.25
Dec 20, 2015 $15.00 Dec 12, 2015 $2.75
Dec 19, 2015 $12.25
Dec 27, 2015 $15.00 Dec 19, 2015 $2.75
Dec 26, 2015 $12.25
Jan 3, 2016 $15.00 Dec 26, 2015 $2.75
Jan 2, 2016 $12.25
Jan 10, 2016 $15.00 Jan 2, 2016 $0.25
Jan 9, 2016 $14.75
Jan 17, 2016 $15.00 Jan 9, 2016 $0.25
Jan 16, 2016 $14.75
Jan 24, 2016 $15.00 Jan 16, 2016 $0.25
Jan 23, 2016 $14.75
Jan 31, 2016 $15.00 Jan 23, 2016 $0.25
Jan 30, 2016 $14.75
Feb 7, 2016 $15.00 Jan 30, 2016 $0.25
Feb 6, 2016 $14.75
Feb 14, 2016 $15.00 Feb 6, 2016 $1.25
Feb 12, 2016 $13.75
Feb 21, 2016 $15.00 Feb 12, 2016 $1.25
Feb 20, 2016 $13.75
Feb 28, 2016 $15.00 Feb 20, 2016 $1.25
Feb 27, 2016 $13.75
Mar 6, 2016 $15.00 Feb 27, 2016 $1.00
Mar 5, 2016 $14.00
Mar 13, 2016 $15.00 Mar 5, 2016 $1.00
Mar 12, 2016 $14.00
Mar 20, 2016 $15.00 Mar 12, 2016 $1.00
Mar 19, 2016 $14.00
Mar 27, 2016 $15.00 Mar 19, 2016 $1.00
Mar 26, 2016 $14.00
Apr 3, 2016 $15.00 Mar 26, 2016 $15.00
Apr 10, 2016 $15.00 Mar 26, 2016 $1.00
Apr 9, 2016 $14.00
Apr 17, 2016 $15.00 Apr 9, 2016 $6.00
Apr 16, 2016 $9.00
Apr 24, 2016 $15.00 Apr 16, 2016 $6.00
Apr 23, 2016 $9.00
May 1, 2016 $15.00 Apr 23, 2016 $15.00
May 8, 2016 $15.00 Apr 23, 2016 $15.00
May 15, 2016 $15.00 Apr 23, 2016 $1.00
Apr 28, 2016 $14.00
May 22, 2016 $15.00 Apr 28, 2016 $15.00
May 29, 2016 $15.00 Apr 28, 2016 $15.00
Jun 5, 2016 $15.00 Apr 28, 2016 $15.00
Jun 12, 2016 $15.00 Apr 28, 2016 $15.00
Jun 19, 2016 $11.00 Apr 28, 2016 $11.00

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