Loan to expand my mobile phone business

Entrepreneur

About Me

my name is Dorwana joseph I am married and a member of a family of eight i lost my parents at very tender age in which i struggle to make ends meet .Through scholarship, completed senior high school and proceeded to Sunyani Polytechnic where I studied HND Accountancy but could not go to the university because of money . when I was in High School i got a government scholarship so i saved 120 US Dollars which i used to start mobile phones Shop business in order to support my family. i also want to support my younger sister who wants to become a doctor in future as well as my son who will want to be a legal practitioner. i like reading and soccer.

My Business

I am into the sale of mobile phones, and my business is situated in sunyani town with about 200 mobile phones and accessories on a surf.i choose this business because of the high demand, in this twenty first century, everyone uses mobile phone as a means of communication . i spent 120 US Dollars to set up the shop. The business is very lucrative with 0.5% risk level of some phones not been purchase on time. However, it so lucrative any amount invested in it shall not be at loss.My only challenge is that I have a very limited working capital therefore should I get any fund as a support, i believe in the next two years i will be able to set up another mobile phone shop in a different location.

Loan Proposal

My precious and able lenders, I would be very glad if you could help me fund my business. I am into the sale of mobile phones and accessories.I chose this type of business because almost everybody uses mobile phone in communication and therefore the demand for it very high .The business is very lucrative with 0.5% risk level of some phones not been purchase on time. However, it so lucrative that there is no risk of indebtedness since sales is on cash basis and any amount invested in it shall not be at loss.My only challenge is that I have a very limited working capital therefore should I get any fund as a support from you , It will help me increase the number of phones to 400 and it accessories , and therefore make more profit and be able to pay this loan on time. I shall be honest and since because posterity will judge me should I fail to repay the loan back. Thank you for accepting to support me and may the good Lord bless you.

Feedback

Loan Info

Lenders