Expand working capital for mobile money business

Charles Afrifa

Takoradi, Ghana

$49 to go

87% funded of $371 goal

5

days left

  • $

Entrepreneur

Name

Charles Afrifa

Location

Takoradi, Ghana

On-time repayments

6 weekly installments  •  100%

About Me

I am Charles Afrifa. I am from Agona Nyankrom in the central part of Ghana. Currently I base in Prestea in the western region of Ghana where I am operating my startup business. In our part of the world, Africa due to capital constraints setting up of a business is not easy. However when I started small back in 2015 family and friends support me as the saying goes "God help those who help themselves. I still need to expand my working capital in other to serve my customers very well hence resorting to I did have when my good friend recommended it to me. Thanks in advance for helping the needy.

My Business

I operate Mobilemoney business and selling of phone accessories. This I started in 2015 from my little saving during school days. Mobilemoney is a good business in Ghana especially in our rural areas due to the barrier the service seeks to bridge in the bank system. This banking the unbanked. Income from the Mobilemoney and accessories is around 50-80gh on average. Occasional income is 150-200gh on market days.

Loan Proposal

Loan will be used to serve customers cash in and cash out. Part will be used to boost the phone accessories business to ensure regular daily sales. The aim is to achieve my daily sale so as to be able to pay my Loan. In the future I want to add Design and print work because I am a graphic designer. I believe with this the future is bright when my credit limit increase.

Income Source

Multiple stream nature of my business will do the magic I'm case of inconveniences. Managing money transfer services and accessories together with phone accessories will ensure regular profit which will help me to repay my Loan as scheduled. It will be even be easier in the future with my aim of adding design and print work using my graphic design skills.

My Videos

Apr 11, 2021: Loan to help expand my working capital

Feedback

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  • Benvenuto    Jun 6, 2021

    Charles runs a great business which really helps the people in his community. He is a great partner and he pays his loans on time, often ahead of schedule. My pleasure to lend to him again.

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Loan Info

Amount requested

$371.00

Still needed

$49.00

Application expires

Jun 20, 2021

Projected term

4 weeks

Cost to entrepreneur

Service fee: 5% of $371.00 = $18.55

Credit risk payment: $92.76

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