Loan to expand my mobile money business

Entrepreneur

About Me

MY STORY
My name is Moses Zubakar. I come from Upper East Region, Bolgatanga district in a village call Duusi. I am 22 years old. I was born by parent Madam Angelina Efua-mother and Paul Zubakar-father. I was born in the year 23rd October, 1994. I schooled at New Life International School at Kronom-Kwapra and completed in the year 2011 . I read General Science in Opoku Ware High School and completed in the year June 2014. I passed out my exams and passed at once. I joined my brother who is a scraps dealer who buys rejected metals in large quantity and load it to Tema. But the ending of that year wasn’t nice. It collapsed last year and I carried on with my life. I was later spoken by a brother who has the aim of opening an MTN mobile money transfer.He operated the business and I assisted him for while. He stopped the business and I took over. The barrier was that the investment for money withdrawal and money transfer is small but since I joined Zidisha It's been helping very well.
I love playing foot ball.
Thank you.

My Business

My Business
I provide money transfer service and MTN mobile money merchant. The world these days is changing that the carriage of plenty money along in bags and in pockets has stopped. The carriage of plenty money around has become tedious and scary. Due to the modern world we are living in, technology has become keyed in the life of man. MTN Ghana which is the number one operating network in the country is been able to device a system which can contain all your money along. Also banking system is been limited and difficult moving from one bank to the other, this system has made it easy to transfer money around any time anywhere you found yourself. Therefore this has made people to involve and circulate their money’s through this medium. One can send money without encountering issues such as arm robbers attack, theft, misplacement etc. Money transfer has become easy irrespective of location constraint, time factor and transportation factor etc. The system involves cashing out and cashing in. Cashing out is when a someone having money on his/her wallet wants to get a physical cash, he/she has to come to the Vendor for the agent to withdraw the amount from his/her wallet to the agents wallet in other have a physical cash. Cashing-in: Is when a client is sending money to another person registered or unregistered through the Merchant. Thus, the merchant receiving physical cash from the person and load another person wallet with the amount i.e. mobile money user. Also Aitel Network, Tigo Network, Vodafone Network mobile money transfers are also now introduced and I want add to operate.
The cost involves; the rent, the container I am staying in, light bills, mobile phone cost and when loading my wallet. My revenue is determine when a client is sending money to a mobile money user or non-mobile user, it attracts charges and also when a person is withdrawing money from his/her wallet it attracts charges.

Loan Proposal

Loan Proposal

I am applying for this loan to invest in my trade.I need this money for my mobile money business.
I am a mobile money transfer vendor. The world is changing day in day out. The way that we use to operate things 20years ago is not as the same way. Technology is changing the way of life gradually. In those ages people use to keep money in sacks and hide in the ground. Later they realize it wasn't helping. Banking system was introduced where people go and put their monies there to be kept in other to be safe. This system forbids people to carry huge amount of money along at a time termed as money laundering. Later this mobile money banking system is introduced. This system could allowed the carriage of plenty money along on your SIM cards termed as ''money wallet'.'
MTN network - Ghana introduce this system to the country. Later the other tele-communication network; Tigo, Airtel and Vadafone too joined. I applied to become a mobile money merchant, the only merchant in my site.
Access to Banking system demands transportation in bus moving from one bank to the other. Therefore this has made people to involve and circulate their money’s through this medium. Some could come to me to make money withdrawals. A person could also come and load his wallet which you receive a percent amount as profit from MTN each for that transaction. The process involves in this medium are cashing out and cashing in and loading wallets. Any transaction made for that period either Cashing out, Cashing in requires interest each month.
In recent times, MTN and other networks in conjunction to some banks are working together. One could withdraw money from his or her bank account directly on their mobile network account number without going to the bank. Also in recent times, some banks are collaborating with with Networks. One could make withdrawal from his or her bank account without going to the bank directly from his mobile network. This making the business now very fascinating and profit is indeed coming more.
I indeed expect a profit increase of 3%.
Hope my application would be considered
Thank you

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