Loan to grow and expand my clothing and bags business

Charity

Sunyani, Ghana

100% repaid

Entrepreneur

Name

Charity

Member since

January 2015

On-time repayments

359 installments  •  59%

About Me

About Me
I am Charity Asoelaa,26 years old, am married with a child and I live in Sunyani I finished high School With good grades but cold not go to the University because of finance. So I have started a clothing and bags business.
My Passion is in entrepreneurship and because of that, I have started this clothing business , I love doing business and feel so fulfilled when I am in business.
I love soccer and an ardent lover of business documentaries. I equally love reading business Inspirational books and listening to business tapes.In fact, I have come very far from being the struggle in poverty as an orphan , therefore I am not relenting to achieve my desired dream by owning a group of companies.
I believe in the possibility theory. But however one must always uphold the virtues of honesty, sincerity, genuineness and trustworthiness .

My Business

l am into the sale of clothing and bags that is all categories of bags and clothing which are of higher demand.
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 also cloth him or herself without walking naked.
I chose this type of business because it is profitable and are not perishable .
The typical cost of the goods are the purchasing cost ,transportation cost and roaming cost to clients because i do not have a store therefore operates from the house by going to my clients .since that one involve boarding a taxi from area to another. With the current cost I incur for a consignment 400 US Dollars . 350 US Dollars is the cost of buying the goods from the distributors and then 50 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 some items not bought on time . 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 4 and 3 US Dollars is added to each of the unit price of the good depending on the type . However The profit gain is reinvested in growing the business.

Loan Proposal

I want to thank my valuable lenders for funding my previous loan. I am most grateful, but wish to apply for my second loan to enable me purchase more goods to meet my clients demand. The previous loan has helped me to be able to get in touch with very good and potential clients just that I still lack funds to meet all their demands. I will therefore be very much grateful if my loan is funded. I promise to payback without any default as I previously did. thank you so much

Feedback

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  • Margaret    May 29, 2017

    Charity paid off her loan perfectly and was a pleasure to work with. I would gladly lend to her again and encourage others to do the same.

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Loan Info

Project Type

Classic Loan

Disbursed amount

$171.00

Date disbursed

Apr 29, 2015

Repayment status

On Time

Projected term

8 weeks

Lenders

T

Tmann

Los Angeles, United States

C

Christian

Saarbruecken, Germany

Elinor

Maple Lake, MN, United States

cyrus0302

San Francisco, United States

M

m_dennis

Toronto, Canada

Zidisha

Sterling, United States

H

hwwijono

Jakarta, Indonesia

EmilAsker

Lomma, Sweden

ElWal

Kirn, Germany

J

jzidi

Los Angeles, United States

T

Tui1974

nuenen, Netherlands

B

BlackWolf

Lappeenranta, Finland

C

cocokathy

Brisbane, Australia

R

RCHeying

Marietta, United States

A

Anonymous

United Kingdom

Evan Lamos

Brussels, Belgium

M

Mystery15

Winnipeg, Canada

J

JeffH

United States

S

sanfransec

San Francisco, CA, United States

P

pnrjulius

United States

D

Daniel

Stuttgart, Germany

Justin Boswell

Reedley, CA, USA, United States

Kate Courteau

United States

JJ

Jacob Jones

United States

Humble Bundle Community

San Francisco, United States

Ask Charity 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

$168.00

Amount remaining

$0.00

Date repaid

Jun 19, 2015

Status

Fully repaid

Repayment History

Expected Payments Actual Payments
May 10, 2015 $21.00 May 10, 2015 $21.00
May 17, 2015 $21.00 May 16, 2015 $21.00
May 24, 2015 $21.00 May 22, 2015 $21.00
May 31, 2015 $21.00 May 30, 2015 $21.00
Jun 7, 2015 $21.00 Jun 6, 2015 $21.00
Jun 14, 2015 $21.00 Jun 14, 2015 $21.00
Jun 21, 2015 $21.00 Jun 16, 2015 $21.00
Jun 28, 2015 $21.00 Jun 19, 2015 $21.00

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