My shoes business expansion

Yeboah Herbert

Berekum, Ghana

100% repaid

Entrepreneur

Name

Yeboah Herbert

Member since

August 2015

On-time repayments

146 installments  •  82%

About Me

It all started when I have to stop my university education due to money issue as the person who is paying for my school fees said he can't afford anymore so my parent have to continue from where he has left it. After this incident I went for loan and started this business on my own which I have paid it back without owning them. I want to put my business on the next level by creating a website for it so that I can reach millions of people, thus joining the online selling. I want a future where my kids will enjoy better education and to be best of what they believe in. Now I've been teaching myself how to develop Android app. So that I can develop one for my work soon.

My Business

Am into selling of executive shoes. It is mostly used by the working class and occasionally used by non working class. In my society it represent decency and gentleness. I earn profit from it as I buy it at wholesale price and sell it to my customers to earn a profit from it. I can buy a shoe of 150ghc and sold it at 250-300ghc to earn a living. I incur cost like electricity, transportation and rent. But my cashflow outweigh my cost

Loan Proposal

This loan will be used to buy shoe as well as sandals. Which will be resell them at high purchase as will buy them at low cost. For example I can buy a shoe at 100ghc and sell 250ghc or 200ghc to my customers. I believe with this loan at hand I can focus little bit on the sandals side of my business. Which will pour in a lot of profit because it is on high demand as compare to the shoes. I expect my profit to grow from 800ghc to 1500ghc.

Feedback

5

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Loan Info

Project Type

Classic Loan

Disbursed amount

$183.23

Date disbursed

Jul 25, 2018

Repayment status

On Time

Projected term

8 weeks

Cost to entrepreneur

Service fee: $5.32

Credit risk payment: $29.88

Optional expediting fee: $5.32

Lenders

Paul Buchheit

Mountain View, United States

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