New phones for my phone shop

Joseph Quansah

Obuasi, Ghana

100% repaid

Entrepreneur

Name

Joseph Quansah

Member since

August 2014

On-time repayments

258 installments  •  42%

About Me

My name is Joseph Quansah. I am the second child of a christian family of five who live in a very lucrative mining town of Ghana called Obuasi. I completed Opoku Ware Senior High School in 2011. I am currently pursing my BSc. in Mining Engineering at the University of Mines and Technology, Ghana West-Africa. Prior to my admission into this reputable institution, I opened a phone shop which I am currently managing. It is a very profitable business venture which is helping to support most of my school expenses, and family members as well. I have one shop now and this mobile phone business is really booming in my community.

I normally read books - mostly pertaining to my profession and daily graphics to keep myself abreast of current affairs during my leisure hours. However, watching football match is my main hobby.

My Business

I began this phone business in 2011 and I have decided to expand this business since there is a high demand of phones in my community. People are buying these handsets; especially the small scale miners in my town due to their affordability. I gain maximum interest as twice as I purchase them for sale. I thought about this booming business and to be frank, people are really patronizing my services. I want to purchase these phones in bulk to be able to supply my customers on a regular basis. Since the business is gradually expanding, I need additional shop to stock it with phone accessories to help boost my in my earnings The cost of one brand new phone ranges from $100 to $120, and I am able to sell them for $180 and $200 to get more profit. In case I am able to get $2000, it will help me purchase more phones and accessories to boost this business. Therefore, I am appealing to all Zadisha lenders to help me with this loan to be able to purchase additional phones and accessories to expand my business and serve customers to their satisfaction. Thank you.

Loan Proposal

When this loan is granted, I will purchase more quality phones and accessories for my phone shop which will sell at a very reasonable price to gain maximum profits.The profits will then help expand my phone shop by increasing the number of phones I purchase for my shop and sell.
Because people are interested in using these modern phones and patronizing my services, I am able to make profit and can pay the loan from these profits. Apart from this, my barbering shop which fetches me additional income can be used to pay the loan without any controversy I am very optimistic and assure you that I will pay the loan if granted successfully.
Thank you.

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Loan Info

Project Type

Classic Loan

Disbursed amount

$142.00

Date disbursed

Sep 24, 2014

Repayment status

On Time

Projected term

6 weeks

Cost to entrepreneur

Lender interest: $142.00 at 14.67% annual rate over 1 month = $2.40

Service fee: $1.00

Lenders

Brian

Midhurst, Canada

Sarasota

Sarasota, Fl, United States

Matching Fund

Sterling, United States

S

stryker75

United States

J

JessicaAna

Maputo, United States

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