Entrepreneur
Name
Mohammed
Member since
January 2017
On-time repayments
43 installments • 63%
About Me
My name is Mustapha Mohammed from Bantama -Kumasi, the Ashanti Regional capital. I was born to Ghanaian parents and i am the second born of my parents, two boys and four girls.I attended St. John's international school where I took and passed the Basic Education Certificate Examination. I was home for two years after my Junior high school education because my parents income at the time was not enough to send me to school so i had to wait. Those years i was selling mobile credit cards and unit transfer to make ends meet. Those times were very hard but I managed to improve my life. I went to Prempeh College for senior high school education and I was elected the Assistant School prefect in my final year at the school. I worked closely with my other prefects to promote discipline and project the image of the school. The headmaster was very impressed with our work and i was given an award as the most hardworking prefect. After my senior high school education i was home for another year and was suffering of finances. I sometime had to beg friends for money to buy food so i decided to get something doing and I made my plans clear to my parents who supported me with a starting capital to venture into the selling of bags and footwears. This business has really enabled me and has financed my education at the university level.
I am an agribusiness student and an outstanding business oriented young entrepreneur who sells foot-wears and bags to fellow university student at knust campus in kumasi. I started with small amount of money but through hard work and perseverance the business is doing so well.
My Business
I sell foot-wears and slightly used bags to my fellow students whose finances make it impossible for them to buy expensive bags and foot-wears. I do this business because the demand for affordable foot-wears and slightly used bags is on the rise at knust campus.The business is very good and profit generating which has helped me in diverse ways to acquire money for my tuition and accommodation fees. The cost of getting these goods are not that expensive and the returns from the business is very good and lucrative. 450 -500 dollars worth of goods can give me 90 -100 dollars on weekly basis and the revenue i get is used to buy more goods to resell. The profit i get from this business is re-invested in the business so that going forward into the future, the business will grow bigger and give me more profits.
Loan Proposal
The loan amount would be used to buy more bags and foot-wears so as to meet the demand on campus and this would help me to generate more profit to repay the loan on time. I will follow the repayment schedule accordingly. thank you.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$103.00
Date disbursed
Feb 2, 2017
Repayment status
On Time
Projected term
10 months
Other loans
Lenders
United States
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