Purchase new phones for my phone-shop business

Entrepreneur

About Me

my name is Dorwana joseph I am married and a member of a family of eight i lost my parents at very tender age in which i struggle to make ends meet .Through scholarship, completed senior high school and proceeded to Sunyani Polytechnic where I studied HND Accountancy but could not go to the university because of money . when I was in High School i got a government scholarship so i saved 120 US Dollars which i used to start mobile phones Shop business in order to support my family. i also want to support my younger sister who wants to become a doctor in future as well as my son who will want to be a legal practitioner. i like reading and soccer.

My Business

I am into the sale of mobile phones, and my business is situated in sunyani town with about 200 mobile phones and accessories on a surf.i choose this business because of the high demand, in this twenty first century, everyone uses mobile phone as a means of communication . i spent 120 US Dollars to set up the shop. The business is very lucrative with 0.5% risk level of some phones not been purchase on time. However, it so lucrative any amount invested in it shall not be at loss.My only challenge is that I have a very limited working capital therefore should I get any fund as a support, i believe in the next two years i will be able to set up another mobile phone shop in a different location.

Loan Proposal

I need the loan in order to purchase new phones and ascessaries in my phone shop business.part of this loan will be use to expand my shop.the iterms includes:phones-cost per one USD570.phone covers- cost per one USD19.phone chargers-USD19.Ear piece -USD38.this loan will help me to serve my customers well any time they come to my shop.this loan will also help me to increase my profit margin from USD760 to USD1,102.

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