Stocking up my charcoal

Abena Adutwumwaah

Kumasi, Ghana

100% repaid

Entrepreneur

Name

Abena Adutwumwaah

Member since

November 2020

On-time repayments

36 installments  •  44%

About Me

My name is Abena Adutwumwaah a mother seven children. I grew up from a village called Nobewam in the Ashanti Region. Nobewam is notably known for its farming culture as most occupants depends mainly on farming to survive. Growing up was a tough one because my mother didn't believe in girl child education so we were told to be in the kitchen to cook for our brothers to go to school. I finish primary school and after I decided to learn trading and a vocation in tailoring. I was eager to learn trade so I started this charcoal business where we go to southern part of Ghana to buy charcoal at wholesale and sell to my clients. I have done this charcoal business to cater for all my seven children since my husband died early. I am a widow who is working hard to help my children get a better futter. it is my wish that all their dreams comes into reality. I used to play football at my youthful days and I am a fan of Kumasi Asante Kotoko a football club in Ghana.

My Business

I sell charcoal at whole to retailers. I go for these charcoal from the farmers at their desire farms and buy them where I returned the back to kumasi and sell to my clients at wholesale price. Charcoal business is a very good Avenue to invest since many Ghanaian homes prefer to use the traditional source of energy to cook rather than the use of gas since it is very costly and risky. it generates alot of profit and my customers are many since I started dor long

Loan Proposal

I need this loan to help me buy more charcoal at wholesale to sell to my customers. The amount of charcoal I order was reduced due to covid 19, so I don't have enough charcoal to serve my customers. Taking this loan would help me to purchase more charcoal at wholesale to sell to my customers who I used to turn away because of stock shortage. This will help me to raise enough profit and boost my stock also. My customers would also be serve well base on their demand.

Income Source

Now business is growing to my expectation an with this new developing I am able to sell to my customers who helps me to raise enough profit. I would pay from the sales I make everyday.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$123.45

Date disbursed

Nov 10, 2020

Repayment status

On Time

Projected term

1 week

Cost to entrepreneur

Service fee: $8.36

Credit risk payment: $4.94

Optional expediting fee: $8.36

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