Loan to support my clothing business

Agyei

Berekum, Ghana

100% repaid

Entrepreneur

Name

Agyei

Member since

May 2015

On-time repayments

210 installments  •  29%

About Me

I WAS BORN IN BEREKUM AND I HAD I COMPLETE BESS JSS IN BEREKUM AND HAD MY HIGH SCHOOL EDUCATION AT SUNYANI SENIOR HIGH SCHOOL WHERE I DID BUSINESS FROM 2006 TO 2009. I ALSO HAD MY TERTIARY EDUCATION AT SUNYANI POLYTECHNIC WHERE I GOT HIGHER NATIONAL DIPLOMA IN ACCOUNTANCY FROM 2011 TO 2014. MY PARENTS WERE NOT ABLE TO CATER FOR MY NEEDS BECAUSE THEY WERE NOT HAVING ANY BETTER BUSINESS DOING. MY UNCLE GAVE ME HIS STORE ROOM AND SOME LITTLE AMOUNT OF MONEY TO START ANY BUSINESS OF MY CHOICE THIS HELPED ME TO GET INTO THE CLOTHING BUSINESS. I AM SINGLE NOW NOT MARRIED WITH NO CHILD. I WENT TO A WATERFALLS AT MY AREA WITH MY SCHOOL MATES,

My Business

I SELL CLOTHING WHICH INCLUDES MATERIALS, KENTE, FABRICS BOTH FOR MEN AND WOMEN AND CHILDREN AS WELL. PEOPLE ARE ABLE TO GET ANY KIND OF MATERIALS AT ANYTIME AT THE SEASON WHETHER AT RAINY SEASON OR HOT SEASONS. I ENTERED INTO THIS KIND OF BUSINESS BECAUSE IT IS THE TYPE WHICH ATTRACTS MANY CUSTOMERS BOTH HIGH INCOME EARNERS AND LOW INCOME EARNERS. I INITIALLY STARTED WITH 800 GHANA CEDIS WHICH WASN'T ENOUGH BUT I HAVE BEEN ABLE TO EXPAND MY BUSINESS UPTO NOW THROUGH THE FIRST AND SECOND LOAN I GOT FROM ZIDISHA. I HAVE BEING USING THE PROFITS WHICH I HAVE BEING ACQUIRING FROM THE BUSINESS FOR REINVESTMENT INTO THIS SAME BUSINESS THROUGH ADVERTISING AND BRINGING IN NEW STOCK BUT I HAVE ANOTHER INTENTION TO GO INTO DIFFERENT VENTURES WHEN I GET ANOTHER HUGE AMOUNT OF CAPITAL TO DO SO.

Loan Proposal

WHEN I GET MY SECOND LOAN, I WILL USE THE MONEY TO BUY KENTE, CLOTHS FABRICS AND JEWELLERY FOR BOTH MEN AND WOMEN AND CHILDREN AS WELL. I WILL ALSO USE PART OF MY SECOND LOAN TO DO MORE ADVERTISING TO TELL THE PUBLIC AND MY CUSTOMERS THAT I HAVE BRING IN NEW STOCK WHICH WILL HELP THEM IN THE CHRISTMAS SEASON. THIS WILL COST ME $350. MY PROFIT MARGIN WILL THEN INCREASE BY 55%. AND THIS WILL THE HELP ME TO GET MONEY TO EXPAND MY BUSINESS AND BE ABLE TO SERVE MY CUSTOMERS AND TH GENERAL PUBLIC AS WELL BECAUSE I WILL BE ABLE TO SATISFY THEIR NEEDS.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$265.00

Date disbursed

Nov 3, 2015

Repayment status

On Time

Projected term

43 months

Lenders

Zidisha

Sterling, United States

BF

Bob Fitzjohn

Fontvielle, Monaco, Yemen

A

AndrewC

London, United Kingdom

WiscoHorndog

United States

Sara

United Kingdom

Elly

Woudrichem, United Kingdom

J

Jon

United States

MF

Marissa Fiore

United States

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