Tomato paste, milk & milk powder for my provisions store

Prince

Akwatia, Ghana

100% repaid

Entrepreneur

Name

Prince

Member since

August 2015

On-time repayments

288 installments  •  75%

About Me

My name is Prince Arhin from Akwatia in the Eastern Region of Ghana. I am the third born to my mother and the tenth born to my father. As you can see competition to schooling won't be easy. Father had about 20 children I mean those that I know so with this if you are not clever then forget that he will take you to school. In fact I was very poor at learning so he decided not to waste his time and money on me at all but all these while my mum was fighting for me. This woman caught for me throughout my elementary and junior high school. As a poor learner repetition in class was my food. I wasted three years throughout my elementary and Junior high school. God being so good to me I passed my finally exams with grade 10.

With this grade I got an admission into the senior high school. There too it wasn't easy for me at all. My mom had little money so whenever I am going to school I get few provisions; just gari, sugar and a bar of key soap and my pocket money was a hell. That time which is between 2004 to 2007, I was given just USD3.00 as pocket money while some were bringing USD50.00 and above, so I always told myself it is well. I passed through all these hardships then completed in 2007 and since my grade wasn't good I had to stay home for three year before going to the tertiary school.

In the year 2010 I started my tertiary school and there God really did me a favour. I was counted among the best three students of my class so during my second year I was asked to become a Teaching Assistant to one of our lecturers. I graduated with a second class upper division and my dad who hated me for being poor at learning now begun to embrace me.

My Business

I own a provision store at Sadams, a suburb of Akwatia and in the store I sell a lot of goods. Among the product I sell are a tin of Milo, sugar, saops and detergents, canned foods, cereals and grains, toothpaste and toothbrush and many more.

Since Sadams is a suburb and for that matter a new site, more and more people move to settle there so the sale of these above mentioned products keeps on increasing thereby increasing my profit margin.

Of late I have realized that people normally ask of iced blocks and chilled minerals as well as cold water so I have decided to buy a refrigerator which will help me sell those product I have mentioned above.

It cost me monthly USD850.00 for the products I buy and sales revenue is USD1100.00. Out of this sales revenue USD55.00 take care of my expenses USD195.00 is my profits.

Also, I have started an online course in Business Administration Level 7 Diploma of which I need money to pay for my school fees.

Aside this business I am operating I am a salaried worker of which I receive USD330 every month so when I am being given this loan I would be able to pay it to the smallest gram.

Should I be offered this loan I would pay it to the lenders satisfaction as I did to my previous loans.

Loan Proposal

My business supplies the community in which I stay with the basic necessities. Due to the number of people moving to settle at Sadams over the past years, there has been an increase in the demand of the goods that I sell on daily basis and for that matter most of the products get finished within a day. This make it more lucrative and profitable.

I sell a lot of provisions which include milk, tomato paste, milk powder, beverages and many more. Those that I have listed are the ones which are highly demanded by my customers. Among these products, I buy them on regular basis since my working capital is not enough. Over the years, I used to buy half boxes of each of the products I have listed.

There are some setbacks my business is currently facing which include lack of adequate working capital to buy more goods. Every month it cost $400.00 for goods. Sales revenue per month is $550.00 of which $120 is profit after paying off some expenses like catering of the goods. With this profit that I get monthly and more sometimes, when given the loan, I can pay it accordingly as I have stipulated.

Should I be granted the loan, I will buy a box each of the products that I have listed which will help me increase my sales revenue per month thereby increasing my profit per month. Again, I will reinvest the profit into the business.

Feedback

None

None

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Loan Info

Project Type

Classic Loan

Disbursed amount

$100.00

Date disbursed

Sep 7, 2015

Repayment status

On Time

Projected term

2 months

Lenders

artnking

College Place, United States

BJ

Brandon Joz

North Carolina, United States

J

John

Newbury Park, CA, United States

Joseph P. Edd

Seoul, Republic of Korea

T

theshots

Vancouver, Canada

MatthewHaight

Montgomery Village, United States

N

ningli

Charlotte, NC, United States

Jeff

Portland OR, United States

E

Elisa

Espoo, Finland

M

mrhanky1

melbourne, Australia

jk1234

Pinellas Park, United States

J

JacobZ

Bend, United States

J

jjiffer

Seattle, United States

N

NancyG

Victoria, Canada

jmsquared

Seattle, United States

RockinRobin

Centennial CO, United States

S

Sherry

Cold Spring, United States

R

Rossman

Poland, United States

B

BluckeyeFan

Columbus, United States

J

JNale

Reedsville, PA, United States

B

Becmo

Brisbane, Australia

MichaelR

Los Angeles, United States

J

JayJay

Cleveland, United States

A

Alicee

Munich, Germany

D

danny

Karlsruhe, Germany

C

chasingtheskies

Palmdale, United States

M

Marny

Melbourne, Australia

C

Corrino

Sofia, Bulgaria

M

matts

New York, United States

P

proby24

Singapore, Singapore

B

bobabrown

Canton, CT, United States

A

Alsyf

Sydney, Australia

J

jipi9000

Vantaa, Finland

phytoplankton

United States

C

cmubiggguy

Chapin, SC, United States

J

jared4

parowan, United States

simonvikstrom

Drottningholm, Sweden

T

tmsaddress

Orlando, Florida, United States

Jannon

Huntsville, United States

K

kegbenk

Austin, United States

A

ArcticOne

Medicine Hat, Canada

B

Becks

Dubai, United Arab Emirates

1

1979fan

Palo Alto, United States

TheMoonDuster

Brisbane, Australia

E

eagor

Wauwatosa, United States

nelson637

Greenbrae, California, United States

cattlebaron

Pierre, SD, United States

S

Shadrax

Lansing, United States

C

CharlyM

KL, Malaysia

A

Annana

Kanata, Canada

B

blairan

Baltimore, United States

C

cyrilleberger

Gammalkil, Sweden

fairspirit

Utrecht, Netherlands

Paul Buchheit

Mountain View, United States

KM

Kirsty M

United Kingdom

Roy

Espoo, Finland

Ask Prince 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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  • Prince    Jan 13, 2022

    I am not doing well and as a result it has impacted my business.

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  • Prince    Dec 22, 2021

    My business is declining

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  • Prince    Nov 15, 2021

    Profits are not coming as expected.

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  • Prince    Oct 18, 2021

    The installment amounts are too huge

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  • Prince    Oct 8, 2021

    Hi my dear lenders and supporters I have received the amount you helped fund for me. I say I thank you very much for your perpetual unfailing support.

    With this amount I have been able to buy the fridge I said I would buy. Also this money has enable me pay for my online tuition fees.

    I once again say than you for your time and help.

    Log in to reply • Share
  • Prince    Oct 6, 2021

    I really appreciate you all my lenders for helping fund my loan application for me. Thank you very much. I am going to buy another fridge to the one I already have which would enable me expand my tentacles in the ice block business.

    Also, I will use part of the money to pay for my online tuition.

    I once again thank you for making my project possible.

    Log in to reply • Share
  • Prince    Oct 6, 2021

    My dear lenders please I am counting on you to help fund my loan for me. I am left with two days and my loan application is stacked at 75%. Please am counting on you to help me.

    Thank you

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  • Abdul Rahaman    Sep 26, 2021

    Let me know by paying early

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  • Prince    Sep 21, 2021

    Hi my dear Backers, I really appreciate what you are doing for me and all I can say is thank you very much and God bless you for your perpetual unfailing support.

    Log in to reply • Share
  • Prince    Sep 1, 2021

    Hi my dear lenders the time has come for me to need you help once again. Please I am counting on you for your perpetual unfailing help to help fund my loan for me. I am left with one week for my application to expire and I have just received 1% of the requested amount.

    Thank you

    Log in to reply • Share
  • Prince    Aug 27, 2021

    Richard Tawiah please you can reach me on WhatsApp or normal call on numbers +233249466574 or +971559802740. I am currently out of Ghana and would return hopefully next week. Please I want to hear from you so that I give a feedback. Thank you

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  • Prince    Aug 25, 2021

    Hi my dear lenders, I am very excited to communicate with you again. I wanted to let you know that my previous loan that you helped fund for me really helped me tremendously. With this loan I have be able to start a new online course in Business Administration Level 7 Diploma. I am counting on you this time round for your help.

    Thank you

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  • Prince    Jul 6, 2021

    I am in a very tight corner now

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  • Prince    Jul 5, 2021

    My business has been really impacted negatively.

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  • Prince    Jun 1, 2021

    Business is not good

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  • Prince    May 31, 2021

    Business very bad

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  • Prince    May 17, 2021

    Business is still not picking up

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  • Prince    Apr 16, 2021

    Business is really down

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  • Prince    Mar 23, 2021

    Business is still not good

    Log in to reply • Share
  • Prince    Jan 24, 2021

    Business is down

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