To buy cloth to stock my business

Debora

Berekum, Ghana

100% repaid

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How it Works

Entrepreneur

Name

Debora

Member since

September 2015

On-time repayments

223 installments • 60%

About Me

My name is Gyamea Debora. I am the second born of my parents. I attended Mpatasie Presby Primary and Junior High School. After my Junior High School, I continued to the secondary level at Berekum Senior High School.

I sell cloth. I have been in this business for the past two years. The proceeds from this business was what I used to cater for myself in my senior high school level. I stated by borrowing cloth from a wholesaler. After selling the cloth, I send the money to the wholesaler for another cloth. I made a lot of profit from this business. For now, I no more borrow cloth from the wholesaler. I buy them for resale.This how I started my business an overcame hardship in life.

I live in a community where the people are kind,hardworking and hospitable.
The children in the community study hard in school. Most of them want to become nurses when they grow.

My Business

I am entrepreneur. I sell cloth for both males and females. I have been doing this business for the pass two years. The business is very lucrative. This because the demand for the cloth in my community is high. Everybody in the community needs cloth to wear for his or her daily activity in life.
My weekly expenditure is $300 and my revenue is $700.
About 40% of my profit is used for reinvestment. The remaining 60%, I spend part on school children in my community.

Loan Proposal

When the loan is given to me, I will buy cloth to stock my business for resale. I want to increase my stock which will reflect in my sales. I am experting 70% profit increment. The cost of stocking my business is $240. When I stock my business with cloth, it will increase my sales which will then cause my revenue to rise by70%.