To purchase more second clothing

Ernest Fosuh

Kumasi, Ghana

8% repaid

Entrepreneur

Name

Ernest Fosuh

Member since

December 2013

On-time repayments

59 installments  •  20%

About Me

My names are Ernest Fosuh, a 25 year old male. I have been completed Junior High School (St. Anne’s International School-Kumasi) and couldn’t continue due to financial problem. I live Central Business area called Kumasi in the Ashanti Region. I have three brothers aged twelve years, five years and four years and two sisters aged thirteen years and seventeen years and are all school going. Am the second born of my parents. My home is located two kilometers from the Central Business Center called Central Market. But my business markets all over the areas of Kumasi.

My Business

My business involves selling Second hand clothes; I started in the year 2000. I was buying the clothes at the Second Hand Clothing Sellers Association (SHCSA) in Kumasi, and then when I got more cloths which I knew that it will attracted me to get more customers then I started going round the rural and urban areas around to market them to my customers in the rural and urban areas around me. I love the business am doing because it helps me and my family since my father is old and my mother is also sick this job helps me to cater for my junior brothers and sisters, I don’t have a permanent place to sell the cloths that is why I always went to rural and urban areas to sell them. I will be repaying the money Zidisha will give me through this work because if I get the money it will help me to buy more and sells more to make profits

Loan Proposal

thanks to zidisha for giving me another chance to apply for a new loan. The money will be used to purchase more second cloths from the Second Hand Clothing Sellers Association (SHCSA) in Kumasi. it will also help me to expand my business. so that i can get more cloths to attract my customers and to sell it in time. and also even i have been talking to a women in the association to give me some cloths to add it to the ones i have but he said i should give her Deposit before the cloths will be given to me so i will use part to deposit and collect the cloths and then add it to the ones i will use the half to buy it and sells them.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$249.00

Date disbursed

Mar 10, 2014

Repayment status

Late

Projected term

11 months

Cost to entrepreneur

Lender interest: $249.00 at 23.52% annual rate over 11 months = $56.31

Service fee: $4.56

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