Monetary support to expand my cell phone business

Elijah Tettey

Kumasi, Ghana

100% repaid

Entrepreneur

Name

Elijah Tettey

Member since

March 2014

On-time repayments

111 installments  •  67%

About Me

I am Elijah Tettey. I am 30 years of age and a Ghanaian. I am the
second child of a family of four and attended senior high school at
St Pauls Technical At Kukurantumi.
I live in Kumasi, Ayigya at house number Plot 18 Block 3. I am into the selling of mobile phones. I started this business because after
graduating from the Kumasi Poly-Technic
with a Electrical Engineering Technician Part III in Electrical, i could not secure for myself
employment. I decided to enhance my marketing skills into se

My Business

I am into the selling of mobile phones. I started the
business after a fruitless search of jobs. i started the business with
an amount of money borrowed from my Dad's pension pay. The business is now progressing because about 90% of Ghanaian's uses mobile phones, but I need more capital or money-try support to purchase a shop where i can sell a lot of phones and it accessories to enlarge my business. The money gained from the proceeds of selling the mobile phones will be used to pay the loan. The first loan from Zidisha helped me alot and I'm very grateful. I'm really convinced with the support from Zidisha, I'll be able to achieve my goals.

Loan Proposal

I will buy new and more advanced mobile phones that support social network applications. This is because these social networks are considerably lower in their charge rate as compared to using voice calls for communication purposes.
So with the money, i will purchase more phones and other phone related items such as screen protectors, phone covers and earpieces, batteries, phone housings and so on.

I have also learned how to use leather materials to sow phone covers used to protect the housings of phones. i learned this from a friend who is also into the production of locally made purses and porches for ladies and gentlemen. i have started producing samples of my own with his help since he gave me his sowing machine to use. but i now need my own machine for the production purposes if i want this dream of producing leather-made phone housing protectors to materialize.

Thirdly, i also want to add to my business the repair of mobile phones. i have already engaged the services of some experts who will train a young man i want to employ to take charge of that aspect of my business. i therefore would use some of the money for the training purposes and also to buy the tools and equipment needed for the work.
Good management and the vision I have will help me expand my business so i can employ other people to also help reduce the unemployment rate in my country Ghana. With the money,, I will invest in my business and also pay off the loan.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$253.33

Date disbursed

Nov 7, 2014

Repayment status

On Time

Projected term

2 months

Cost to entrepreneur

Lender interest: $253.33 at 9.20% annual rate over 2 months = $5.06

Service fee: $1.14

Lenders

K

Kondonassis

Bridgton, United States

S

sirius

Lauterach, Austria

C

cjmenchaca

Austin, United States

Kysera

Crawfordsville, United States

Jouni

Finland

jan73

Eugene, United States

xtrahardware

Cazenovia, United States

G

GanSatya

United States

sderickson

Berkeley, CA, United States

T

thebonseung

Republic of Korea

Mikers

Netherlands

M

MigwiK

Brecht, Belgium

LouisB

ZIDISHA, Mozambique

J

JessicaAna

Maputo, United States

ToddTho

World Wide, United States

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