3 weekly installments • 67%
Opare Gershon is my name. I stay at Legon in the Greater accra region of Ghana, Due to Financial difficulties I couldn't further my education to the tertiary level which hindered my dream of becoming a Lawyer. I was a shop attendant so I was able to save from my salary which helped me to start my mobile money and sell of scratch card business.
I sell scratch cards and am also a mobile money vendor. This business is useful because it help me to generate some income to help finance my junior brother's education. I chose this kind of business because there is none in the community I stay so all the people in my community makes their transactions from me. My cost of operation is GHS 3000 and my revenue is GHS 4000.
I will buy scratch cards with the loan and it will help me increase my stock and my customers will also get enough scratch cards to buy when the come to my shop. This loan will also help increase my profit.
The using of phone is a necessity now so people usually buy scratch cards to be used on their phones so it is not easy to run at a loss but in case of any risk I will repay with profit from my mobile money business.
Apr 14, 2021
Cost of loan
Service fee: 5% of $159.10 = $7.95
Credit risk payment: $20.67
Optional expediting fee: $15.90