Loan to restock drug store (chemical shop)
Gideon
Kumasi, Ghana
20% repaid
Entrepreneur
Name
Gideon
Member since
July 2016
On-time repayments
130 installments • 88%
About Me
My name is Gideon Berchie I am 35 years of age. I am from Kumasi in Ashanti region of Ghana. I started my basic school at Adum Preby Kumasi. I furthered my education from there to Tweneboa Kodua senior high school Kumawu, and proceeded to complete Sefwi Wiawso college of Education. I am the elderly among four children of my parents. My mother is petty trader, whereas my father operates a chemical shop (drug store) hence all my education cost was funded by my parent income earns from their business. After school, I engaged myself assist my father selling in the shop, where I had some experience in dispensing and selling drugs.
My Business
I took over after the death of my father and started to renovate the shop by cementing the shop floor, repairing the broken shelves, painting the shelves and the entire shop and also I bought a set of table and chair to help operate the shop. I couldn't buy many drugs as a beginner to restock the shop so I discussed with a TOBINCO, Pharmaceutical Company that owes a mobile van which supplies drugs to pharmacy and chemical shops on credit to offer me some drugs on credit. After working with them for some time . I realized that I am working for them without earning any profit because they give the drugs to me at high prices which were not helping me so I have stop taking drugs from them and currently managing with the little resources I have to stock the shop. The situation has created a problem since the shop serves as sources of livelihood for the entire family during and after the dead of my father and it is also affecting the community because the shop is the only chemical shop that helps the people in the area to access medicine to remedy sudden illness
Loan Proposal
The shop supplies the people of my community with drugs in times of sudden illness. The shop is the source of income for me and my family. I sell both herbal and orthodox medicines. The loan will be used to purchase drugs to meet the request of my customers. The drugs in tablets cost $70, capsules cost $30 and the syrups $100. The drugs will provide immediate medical support for people who have taken sudden ill health , I will use some of the profit to pay school fees for my siblings and also feed the family with it.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$410.00
Date disbursed
Apr 9, 2019
Repayment status
Late
Projected term
2 months
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Summary
Amount repaid
$82.82
Amount remaining
$327.34
Expected completion
Jun 24, 2019
Status
Repaying late
Installment amount
$10.35
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| Apr 22, 2019 | $82.82 | May 1, 2019 | $82.82 |
| Apr 29, 2019 | $0.00 | ||
| May 6, 2019 | $10.35 | ||
| May 13, 2019 | $10.35 | ||
| May 20, 2019 | $10.35 | ||
| May 27, 2019 | $10.35 | ||
| Jun 3, 2019 | $10.35 | ||
| Jun 10, 2019 | $102.69 | ||
| Jun 17, 2019 | $102.69 | ||
| Jun 24, 2019 | $70.19 | ||
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