Loan to invest into my tabletop food-selling business

Teresa

Koforidua, Ghana

21% repaid

Entrepreneur

Name

Teresa

Member since

February 2016

On-time repayments

32 installments  •  59%

About Me

My name is Teresa . I am from Ghana in West Africa. i had basic and junior high school education when i was a child. However, after junior high school, i did not further it to senior high school due to inadequate financial support although i had very good grades. My parents who were already poor by today's standard could not afford to help me further it.
As a results, i went to stay with an aunt who was selling a local food called kenkey which is made of maize and fried fish. she taught me how to do her type of business and when i had learnt enough, she set me up on a very small scale. Till this day, i still remain very grateful to that aunt of mine.
Ghana is such a nice place to be and we have lots of tourist attraction sites too. In the future, i have promise myself to give my children if any should come the best of education, the one that i did not have.

My Business

I sell cooked kenkey with fried fish on table top in my community in Ghana. Now, kenkey is a local food which is made with grinned maize. It is eating with fried fish and either stew or grinned pepper.These are affordable everyday local food which everyone can afford to buy. it is eating both by the old and the young.
My choice of this business as of the time i started was conditional. but with time i understood it very well and realized that it has a very huge profit potential.
When i buy a full bag of maize for say $50.00 after using all, i make close to $20 as my profit. thus is very lucrative.
I save part of the profit, i use a small percentage to take care of myself and i do remit my parents too ones every month with something small and i use the rest to keep the business running...

Loan Proposal

If my loan application is fully funded, i will use the entire amount as follows.
three bags of dried of Maize @ $120.00
Five curtons of fresh fish @ $80.00
Two big gallons of cooking oil@@30.00
A bag of charcoal @ $15.00 and i will remit my parents with $5.00 and tell them of the wonderful zidisha family that i am part of now and all the wonderful people here.
this will instill confidence in me, and encourage me to work harder, to the people of they will have well prepared and affordable food to eat at anytime they need to and together live happily.
I also expect a profit increase as i will increase the scale of my operations too, since is a daily activity, i boldly know that i can pay back as scheduled...

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$250.00

Date disbursed

Mar 3, 2016

Repayment status

Late

Projected term

66 months

Lenders

F

flaguy999

Tampa, United States

Humble Bundle Community

San Francisco, United States

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