Purchase of clothing bales for sale to support my siblings
Jacob
Abura Dunkwa, C/r. Ghana, Ghana
100% repaid
Entrepreneur
Name
Jacob
Member since
January 2015
On-time repayments
132 installments • 70%
About Me
My name is Jacob Arthur, a Ghanaian living in the central region of Ghana. i am 25 years old and a high school graduate. i am the first of five children. as a child, all i wanted to become was a soldier but i lost that dream and due to financial constraints . but as a man and being the first of five children, idleness is not an option that i have so i took to selling second hand clothes for a living . The meaning of this is that i have to work harder else my siblings who are in school will have to drop out from school since my moms strength alone can not do it. For now i have a dream of opening my own boutique . Having been able to save a little and am working very hard to reach that dream with a targeted year. the greatest virtue that i have learn over the years is hardworking and integrity. i love to read and play foot ball and then also engage in a lot of church activities.
My Business
i am into the selling of clothes and i can barber too very well so sometimes i swing businesses but for the past two years now i have been selling second hand clothes in my community. i take the bales and move around with the clothes, i go from house to house, and then also markets. on market days sale are always very high than the normal days. i attend markets days four times a week. these clothes are needed since is not everyone who are able to purchase the brand new ones. for every bale you sell, you make more than 35% profit . A typical second hand clothe bale cost about $60 . then out of this profit, i live on part.l..
Loan Proposal
I am so grateful for the first loan that you helped me with. the impact is and was awesome.
I am into the selling of second had clothes in my community in the central region of Ghana. when my loan is fully funded, i will use the entire amount to go for inventory . i will purchase two bales full of clothes for children with each costing around $45 now so the two will make some $90. then i will use the rest to purchase two other bales for adults one for men and the other for women. so $55 for that of the women since that cost more than that of the men and the children. then i will use $50 to purchase men clothes.
the benefit that this will create to those in the nearby villages can not be over emphasized. it will provide low cost for these people both young and old. Then to my self too, i will be making profit of not less than 40% on cost of inventory and this will help me to be able to help my mom to take care of my younger siblings as in their school fees and their up keep. and then also i will have something small to save towards my own future.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$183.00
Date disbursed
Mar 27, 2015
Repayment status
On Time
Projected term
5 months
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