Selling second-hand clothing to fund my education

Freda

Kumasi-bomso, Ghana

4% repaid

Entrepreneur

Name

Freda

Member since

January 2017

On-time repayments

148 installments  •  18%

About Me

My name is Freda Kodua from Bomso-kumasi. I live very close to the Holy Trinity Chapel. My parents are from Ghanaian descents and they are blessed with nine children and i am the third. My parents are both tomato farmers. I had my educational training at Holy Trinity Preparatory school where i sat for the Basic Education Certificate Examination and emerged victorious.
I had the best grade among my colleagues in my graduating year and was awarded for the feat chopped. The year i completed my JHS, my parents had a tough time raising money for my further studies. They are farmers and they cultivate tomatoes and other vegetable types in small quantities to feed the family and sell the rest to raise money for our expenses. The year i completed my Junior high school education, there were a serious famine and my parents were unable to get enough money from the farm produce because the rains did not set in early so most of the plant withered and died.
I had no other option than to stay home for one academic year before enrolling in the senior high school. After gaining admission into the university i realised that university education in Africa is very costly so i had the passion and the zeal to do business on campus to cushion the support that was coming from parents since that was not enough. In the future i want my children to be educated and be responsible citizens who will contribute their quota.
I am a young businesswoman and a hardworking bsc. economics student who sells second hand ladies wears to student at the university campus. I operate a door to door style of marketing and i raise a lot of profit from the business. I begun with a small capital but due to hard-work and dedication to duty, the business has progressed.

My Business

I sell cheap and affordable second-hand ladies wears. I chose to do this because many students cannot afford the cost of first class wears and this provide them with a good alternative. The demand for this second-hand ladies wears are increasing especially those from less endowed family background patronises my service and goods.My customers keeps going up due to the warmly good service I render to them.The business is among the leading campus businesses and people from different environment even come to me to buy the goods. I make more revenue from the sale of these goods everyday and the total revenue that accrued from the business is very good and encouraging.The profits i get from sales is reinvested into the business to make it grow bigger and wider in order to generate more revenue and also to stand tall above other dealers on campus. 400 dollars worth of second hand clothes when resell could fetch me 80 dollars every week. The business is very attractive and i need more goods to sell and make more revenue.

Loan Proposal

I will use the loan to buy more and affordable second-hand clothes and sell it on campus to generate more revenue to support myself pay for tuition and residential fees. I need about 400 dollars to secure enough of these goods so that i can make the needed profit to pay for my university tuition fees and residential fees. The loan when given will help in my business expansion and also i could raise enough money for my expenses and school cost.

Feedback

None

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Loan Info

Project Type

Classic Loan

Disbursed amount

$427.00

Date disbursed

Jul 12, 2017

Repayment status

Late

Projected term

30 months

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  • Stephen    Dec 17, 2018

    I have contacted and advised her to adjust her repayment amount if she cannot afford the current payment amount.

    Log in to reply • Share
  • Stephen    May 17, 2018

    I have reach out to her and she promised to effect payment as soon as possible.
    She is committed to paying the outstanding balance.
    Thank you.

    Log in to reply • Share
  • Stephen    Jan 23, 2018

    I have contacted her and has assured me of paying this week.

    Log in to reply • Share
  • Freda    Jan 8, 2018

    I have not been while and the lost of my phone contributed to my indebtedness.
    I would like to reduce my amount and increase it later.
    Thank you.

    Log in to reply • Share
  • Stephen    Nov 29, 2017

    I have contacted her and she remains committed in the course of Zidisha.
    She told to pay this week.

    Log in to reply • Share
  • Stephen    Oct 27, 2017

    I have called her and she said payment will be made as soon as possible.
    She cited ill health as as the reason for her inability to send the weekly repayment.She remains committed to paying off the loan soon.

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  • Freda    Aug 22, 2017

    I am reducing my payment amount and increase it later.
    Thank you.

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  • Freda    Mar 28, 2017

    Business has slow down a bit. I will increase it when the need be. Thank you.

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  • Freda    Jan 30, 2017

    I will buy more ladies wear and sell them to make enough profit and used the dividends to pay my tuition fees and repay the loan at the expected time. I need about 130 dollars to achieve this vision. Thank you very much.

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  • Freda    Jan 28, 2017

    Help me to expand my business and get money to pay my tuition at the university.

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