Loan to expand my mobile phone business

Dorwana

Sunyani, Ghana

100% repaid

Entrepreneur

Name

Dorwana

Member since

January 2015

On-time repayments

154 installments  •  94%

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

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Loan Info

Project Type

Classic Loan

Disbursed amount

$100.00

Date disbursed

Jan 28, 2015

Repayment status

On Time

Projected term

3 months

Lenders

cyrus0302

San Francisco, United States

Zidisha

Sterling, United States

B

blahblah

Nuernberg, Germany

beverly

Vancouver, Canada

ads68

Melbourne, Australia

BF

Bob Fitzjohn

Fontvielle, Monaco, Yemen

dlpringle

Denver, United States

Matching Fund

Sterling, United States

A

adamdreaming

United States

KM

Kirsty M

United Kingdom

Robert

Sweden

Angelina

Northants, United Kingdom

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  • Dorwana    Oct 11, 2017

    Please Can someone be qualified for a bonuse increase credit limit , if he or she pays the remaining loan at once by 27th of October?

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  • Dorwana    Jun 22, 2016

    Due to slow sales, I will like to reduce my instalment amount of GHS 20 to GHS 5 and will increase when sales pick up. Thank you.

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  • Dorwana    Jun 11, 2016

    Thank you my lenders for yet another loan granted to me. I will work around the money in order to repay ontime. Thanks a lot.

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  • Dorwana    May 23, 2016

    Purchase of new phones and accessories

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  • Dorwana    May 17, 2016

    My business has improved significantly over the last four weeks therefore has seen an increase in profit as well. I therefore want to pay the outstanding of the gh 118. Thanks a lot my lenders. Long live zidisha.

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  • Dorwana    May 7, 2016

    Thanks to the zidisha community business is progressing steadily. From the time I joined zidisha community,I business has improved. At first, profit used to be gh50 a month but now profit has moved from gh50 to gh100 a month. One thing that fascinate me is the flexible terms of payments. Thanks a lot for supporting young enterprenuers like myself.

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  • Dorwana    Mar 11, 2016

    Hi to my lenders. I must say that joining the Zidisha community has been a blessing. Business is not the same as it used to be in the past. I have seen a lot of tremendous improvement. Out of the business, I am able to continue my education as I speak. One thing that fascinates me most is the flexible terms of repayment. It's unbelievable this. You will never get anywhere as far as micro-lending is concerned, unless you are with Zidisha! Thanks very much.

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  • Dorwana    Feb 23, 2016

    I thank my lenders for my Zidisha loan. In fact, it has really helped me to grow my business and also has enabled me to pay for my educational fees. And more to the point, Zidisha has flexible terms of repayment. Thank you soo much.

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  • Dorwana    Feb 11, 2016

    I am very much delighted for joining the Zidisha community because you have flexible terms of repayment. This has really helped me to grow my business with no pressure whatsoever as compared to other sources of micro-lending.
    Thanks to my lenders.

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  • Dorwana    Dec 23, 2015

    Thanks to my lenders, my business is moving on well compared to previously.

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  • Dorwana    Dec 8, 2015

    Due to low patronage, I wish to reduce my installment, but I will increase the installment in the coming weeks. Thank you.

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  • Dorwana    Nov 18, 2015

    I have now settled payments of my younger sister's and my own educational fees. This has been possible because of the loan my lenders gave me to inject into my business. It has yielded profit for me to be able to pay for the fees. Now, business has improved tremendously and I will want to increase my installment amount to Gh 50.
    Thanks to my lenders.

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  • Dorwana    Oct 1, 2015

    Thanks to the Zidisha community, especially my lenders, for helping me grow my business. Since I joined Zidisha, my business has grown tremendously over the past months. In fact, it has helped me and my family financially. I was able to pay for my younger sister's education, as well as my own. I am hoping to increase my payment schedule in the coming weeks in order to complete on time. Once again, thanks to the Zidisha team and my lenders. Hoping to do more business with you.

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  • Dorwana    Aug 22, 2015

    Due to low patronage and payment of my education fees, I would like to adjust my repayment installment amount to Gh5. Thank you.

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  • Dorwana    Jul 31, 2015

    I would like to further reduce my repayment installment amount to Gh10 in order to pay my educational fees. Thanks very much.

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  • Dorwana    Jul 30, 2015

    My loan from the Zidisha community has helped me to assist with my younger sister's education. Thanks to my lenders.

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  • Dorwana    Jul 13, 2015

    I am grateful to the Zidisha community for giving me a loan to expand my business. Not only has my business expanded, but also my living conditions have improved. Previously, my profit margin was USD 190. Thanks to my lenders, my profit margin now has increased to USD 228. Thanks very much. Looking forward to more assistance in the future.

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  • Dorwana    Jun 30, 2015

    The money I received from the Zidisha community has helped me grow my sales volume and also has helped me serve my customers' needs. Zidisha indeed is transforming lives and businesses. Thank you.

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  • Dorwana    Jun 19, 2015

    Following the assistance of the Zidisha community, I am able to purchase additional phones and accessories for my shop, and it has eventually increased my profit. This also has improved the living condition of my family. Thanks to my lenders for their kind gesture. Hope to repay the loan on time.

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  • Dorwana    Jun 10, 2015

    Thanks to my lenders, my phone shop business is progressing steadily.

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