To purchase fabrics

Leonard Ampofo

Obuasi, Ghana

70% repaid

Entrepreneur

Name

Leonard Ampofo

Location

Obuasi, Ghana

On-time repayments

203 weekly installments  •  94%

About Me

I am Leonard Ampofo, 26 years old. I am the second child in a family of four. I had my basic education at Obuasi in the Ashanti Region, and continued on to the senior-high level at Cape Coast in the Central Region. I then proceeded to the University for Development Studies at Wa in the Upper-West Region of Ghana, where I studied Environment and Resource Management.

After years of job searching proving futile, I began to combine what l had learned during my four years at the University with one of the talents in my family. We are gifted with the talent of designing African wear; we use African traditional prints to make clothing. Ghana has a convergence of many tribes, making it a beautiful atmosphere in which to enjoy the differences of the various ethnic groups. I am self-employed, designing and making African wear. I entered this business due to my passion for African clothing made from African prints, and because of my desire to become a successful entrepreneur in the near future. My hobbies are reading, swimming, preaching and listening to sermons.

My Business

I design and make clothing. I have been doing this for over 3 years. I design and sew both women's and men's clothing, and I also sew school uniforms. I combine various African and foreign prints to produce unique designs for individual and retail customers. The clothing also is unique because I combine the traditional with the modern. My products are of good quality, and my clients prefer that I also make clothes for those whom they refer to me. I have 3 apprentices helping me. My goods are in high demand because my pricing is fair. People prefer to buy from me because I offer them credit, especially salaried workers. My typical costs are: $100 monthly for water and electricity, and $60 monthly to rent two shops. On average, I make a revenue of about $500. So, my net profit is $340 in an average month. My profit is used for paying my siblings' school fees and for buying more fabric for my business.

Loan Proposal

This loan, when fully funded, will be used to purchase fabrics for my work. This will pave
the way to increase my products(output) hence meeting individual-customer and retail customer demand. I will buy different types of fabrics at a cost of $500, and will spend $160 for machine servicing and maintenance whilst $100.80 will be used to purchase threads for my work. This will help increase my products(output) and is expected to
increase my profit by 45%.
REPAYMENT
I will pay back my loan from income I earn from my daily sale

Show original English  

About Me

I am Leonard Kwadwo Ampofo, 30years of age. I am married with a child. I had my Basic Education at Obuasi in the Ashanti Region and furthered on to the Senior High level at Cape Coast in the Central Region. I then proceeded to the University where i read Environment and Resource Management at the University for Development Studies at Wa in Upper West Region of Ghana.
After years in search for job proving futile i begun to bring to bear what l learnt four years at the University with a gift of my entire family. My family is gifted with the talent of designing african wear using african traditional prints. Ghana has a convergent of all the tribes making it a beautiful atmosphere to enjoy the differences in the various ethnic groupings. am a self-employed. I Design and produce African wears . I entered this business due to my passion for african wear with african prints and my desire of becoming a great entrepreneur in the near future.
My hobbies are reading, swimming, preaching and listening to sermons .

My Business

I am into clothing production . I have been doing this for over 7years. I design and sew both women and men clothing and also sew school uniforms. I blend various african prints and foreign prints to come out with a unique design for my customers and retailers . My products are of good quality and my clients prefer that I get more referrals from my clients. I have 3 apprentices.
My goods are high in demand because pricing is comparatively fair. The clothing are unique as i blend modernity with the tradition.
People prefer to buy my clothing because i offer them on credit especially to salaried workers.
My typical cost are $100 into water and light bills. $80 for monthly rent for two shops. Averagely, i make revenue of about $600. So my net profit is $440 for a month.
My profit is used for basically taking care of my nuclear family, assisting in paying of school fees of my siblings and buying more fabrics for my work.

REPAYMENT
I will pay back my loan through my daily sales.

Loan Proposal

This loan, when fully funded, will be used to purchase fabrics for my work. This will pave
the way to increase my products(output) hence meeting individual-customer and retail customer demand. I will buy different types of fabrics at a cost of $500, and will spend $160 for machine servicing and maintenance whilst $100.80 will be used to purchase threads for my work. This will help increase my products(output) and is expected to
increase my profit by 45%.
REPAYMENT
I will pay back my loan from income I earn from my daily sale

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$867.51

Date disbursed

Mar 18, 2019

Repayment status

Late

Projected term

9 months

Cost to entrepreneur

Service fee: 5% of $867.51 = $34.79

Credit risk payment: $209.24

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