When i am granted this loan, i will buy more bags of charcoal to add to my monthly bags i buy. the aim is to get more re...
Emmanuel
Takoradi, Ghana
5% repaid
Entrepreneur
Name
Emmanuel
Member since
January 2014
On-time repayments
49 installments • 6%
About Me
my name is emmanuel afful, i am from a family of two boys and five girls. i am the eldest son. my father passed away when i was very little. i was born in takoradi and i live in kwesimintim with family. i am a part time student in the takoradi polytechnic. i am studying business. i started a business because i wanted to help my mother pay my fees and that of my other siblings. the earnings from the business is used to support my fees and also buy my books and hand outs in school. i like to go to the beach with my friends and relax, i like music too. With my support, my mother is able to manage taking care of the family. thank you
My Business
I have a charcoal business here in our backyard. A lot of homes use gas cookers but most commercial food joints or restaurants use charcoal for the bulk of their cooking and reserve gas cookers for heating their food. This is due to the high cost of gas in Ghana. A sack of charcoal sells for GH35. I buy the sack at GH20 from the charcoal makers and transport it home every month. At GH35, my charcoal is the cheapest in the area and is very affordable. So i have a lot of customers. I store my bags of charcoal in the open and cover with a tarpaulin, but i want to build a small shack. To store it in. I can achieve this by increasing the money i put into the business and expand the business. I started by taking a loan from my uncle. I paid back in just two months. I buy 30 bags every month. I make about GH500 every month. I save some and use some for school. Thank you.
Loan Proposal
When i am granted this loan, i will buy more bags of charcoal to add to my monthly bags i buy. The aim is to get more returns. With my customers and the good demand in kwesimintim, i will be able to roll over the money quickly and make good profit. With this i can save more and start buying wood planks for my shack. Sometimes even before i go for more charcoal, others are placed in advance, this will ensure that i make my profit in time and pay off this loan. Thank you
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Loan Info
Project Type
Classic Loan
Disbursed amount
$149.00
Date disbursed
Feb 7, 2014
Repayment status
Late
Projected term
11 months
Lenders
Lahr, Germany
Belchertown, United States
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