Stock of cooking spices to sell
Adoma
Banda Nkwanta, B/a, Ghana
100% repaid
Entrepreneur
Name
Adoma
Member since
January 2015
On-time repayments
97 installments • 73%
About Me
my name is Ophelia Adoma from the Brong Ahafo region of Ghana and i am a trader cum business woman. i am the first of five children born to my parents . my father died in my senior high school days and my mom had to take of the five of us alone. As a results of financial difficulties, i could not proceed to college although i had very good grades. i took to selling cooking spices at a very early age to which i used the profit to take care of my self and helped my mom to raise my other sibilings. so this is how come i came to start this business of selling and distributing spices in large quantities. initially when i started , i was trading on credit. took to sell and paid later but as time went by, i was able to save to purchase to sell. i am very dedicated christian who believe in working hard. i spend my free time which is not often because i am always working to rest and think through my business and how to improve it. my dream as of the moment is to be able to trade in these spice on a bigger platform since it is very lucrative. Integrity have been my life's compass and due to that i have never lost my way...
My Business
I sell cooking spices and i also distribute some as well to chop bars and restaurant in my community. i chose this kind of business because as a little girl i loved cooking and that passion had been with me till today. also ,people consume food everyday hence spices will be used most frequently as a results and the situations that made my growing up which warranted that i made money to support my mom i choose this because of the profit margin and it had really been good. For the spices business , the capital for inventory is usually huge but what ever amount of money that you will put into it you are always that you will get it back with mostly a 100% or more profit. Most of the profit are used to help my mom in the raising of my other younger siblings who are now in school....and then i save part for the future and i use the rest for inventory .finally , it help enrich peoples diet and help me to seeing my siblings through school which i am so proud of .
Loan Proposal
when my loan is fully funded, i will use all the $100 to go and buy stock of cooking spice to which i will sell and distribute to food vendors and restaurants in my locality. As it stands profit margin for this kind of business is very high and mostly the hard working spices trader makes a 100% profit and on rare cases i make about 70% profit on my capital invested.so my profit and business will really improve should my loan be funded and the effect on my community is a balanced nutritional diet for all including women and children.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Jan 19, 2015
Repayment status
On Time
Projected term
7 weeks
Other loans
Lenders
Boston, United States
Berkeley, CA, United States
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