New sewing machine for my sewing business
Abdul Karim
Techiman, Ghana
$0 to go
100% funded of $382 goal
0
days left
Entrepreneur
Name
Abdul Karim
Member since
August 2017
On-time repayments
20 installments • 70%
About Me
My name is Abdul Karim Bukari from Techiman in the Brong Ahafo region in Ghana. I attended God bless International school, Techiman. I however proceed to Ghana Secondary school, Tamale where I studied General Science and came out successful. I however started learning my trade back at the Junior high school and completed it successfully while at the secondary school.
I however deem it a great honour to continue with the trade to a maximum height and later continue with my education.
My people in my community enjoy using locally made goods which prompted me to learn such a trade and this makes the community unique.
As a young entrepreneur, I have one kid who is interested in designing and fashion for which I foresee as her future career when she is able to complete her university education.
In fact I enjoy watching and playing football as my hobby.
I again appreciate reading, tourism and designing.
One interesting thing about my country is that, Friday's has been set aside for wearing of local clothes known as African Wear. And this has helped the clothing production very useful in the country.
My Business
About my business, I produce both men and women clothes uniquely. Both local and modern clothes.
These clothes are useful to my community because, the community enjoy using locally made clothes and modern ones which facilitate their intended occasions.
I chose this business because of the demands and wishes of my people.
Well the business require industrial machines which I am targeting for now, which may cost about GHC 4000 ( Ghana cedis) and these machines wold facilitate the efficiency of the business. For now, with what I have I would save about GHC 30 (Ghana cedis) per day which can help me pay off any loan given to me.
Well, I used some of these profits for my child education and reinvestment in growing of the business.
My already paid loan was used to purchase some books for my child education.
Since Fridays are set for African Wear, the production of Africa clothes is now a source of employment for the youth and a profit making adventure.
Loan Proposal
I would like to buy an extra sewing machine for my business, since my business has grown to a maximum height. This new machine would cost 390 dollars.
My plan of buying a new sewing machine is to help me satisfy and work faster for my customers and improve my profit which will help me pay off my zidisha loan and child's school fees.
I think my profit margin would increase to about 50% if I am able to buy this extra machine.
However, business is slowing down due to lack of funding since customers are always on my door steps waiting for fabrics or clothes that would be used to sew their local clothing. Again, some of my workers lack sewing machines which again retards the growth of my business hence the need to get an extra sewing machine.
I hope lenders will do me a favour by lending me some funds to help me grow my business and help other workers who are learning from me.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$382.00
Date disbursed
Mar 3, 2018
Repayment status
Late
Projected term
6 weeks
Other loans
Lenders
United States
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