Frederick
Techiman, Ghana
100% repaid
Name
Frederick
Member since
March 2015
On-time repayments
26 installments • 42%
I am Frederick Ankamah. I had my primary school education at Miracle Preparatory School in Sunyani the Brong Ahafo regional capital.After my junior high school, I moved on to Berekum Senior High.Schooling was not easy because I had to combine helping my mother at the market with her petty trading with learning.Through these difficulty I thrived and by the grace of God made it to the University.I have completed as a professional teacher and how teaches at a secondary school in Techiman. I am a very sociable person and accept everyone as my own brother or sister.Two years down the line, I started my own business through the little savings from my monthly salary. One unique thing about the area I am working and the country Ghana as a whole is that sources for funding business is very limited. So to start a business venture on your own demands a lot of self discipline and dedication.My hobbies as a young man include watching football matches, making friends and reading.
I started my business barely two years after I completed the university and started working.Out of the little savings from my monthly salary I thought it quite expedient to enter into a lucrative venture.I therefore opted for the selling of decoders and satellite installation.My going into this business was championed by the very fact that most people in Ghana were and as a matter of fact are now changing of the old system that existed to the new digital kind of transmission.This line of business has become lucrative due the interest of the masses especially the youth in local and international sports that are shown on the various channels.
With my starting capital, I was able to purchase only ten pieces at the total cost of one hundred dollars equivalent as of the time.Now i am just only to purchase twenty pieces which is not able to meet the teaming demand of customers.The accrued profits is reinvested in the business.More over I am a monthly earner and will use part of my earnings to repay the loan when is approved and given out.
i
I am going to use the loan to purchase new pieces of decoders and plates
The purchasing of more decoders and plates will help my stock to last enough and meet the demand of customers.The number of decoders I intend buying is twenty which cost about one hundred and twenty dollars.If I am able to secure this loan and as well get these items, it will go a long way to help maintain my goodwill as customers will always have some to buy as at when they need them.It will therefore boost the business more than before when I easily run out of stock.My ability to buy these items will increase my profit quite well and in turn plan to employ a permanent sails man.
Positive
None
Neutral
None
Negative
None
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Mar 26, 2015
Repayment status
On Time
Projected term
6 weeks
Other loans
Ask Frederick a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.