Inventory for car batteries for my shop
Francis Kwasi
Accra, Ghana
100% repaid
Entrepreneur
Name
Francis Kwasi
Member since
January 2015
On-time repayments
17 installments • 29%
About Me
I was born in Accra 5th november 1961 and have lived my live my childhood life in Accra. But i come from the eastern region where we are not for farming . life was very difficult at some point in time when i was about 14 years. i had to do menial jobs to cater for my school and my siblings. Through the struggle i was able to complete my elementary to the tertiary in the technical institute and studied automobile engineering. I fortunately got a job when i was about to complete my final year and this kept me happy till i got married to my wife and have three beautiful daughters. My field of studied help me really open my mind to the car battery business which i started with just 1 battery. my first born wants to be a nurse and the second wants to go into fashion designing and the third wants to be a lawyer.
My Business
My business is in transport industry where i sell car batteries. This business have proven to a lucrative one as the number of new cars coming into the system every month is huge, Accra is growing at an alarming rate currently hovering around 5million people and the means of transport is either privately own cars or commercial vehicle, as our rail system is not anything to go by. you no the cars cannot move without good batteries so i am in business all the time , so those who cannot not aford also i rent batteries for a fee. Average price for the battery is $100 and i retail with profit between $10 and $15 on each. My profits basically goes into reinvesting in the business school fees as i am able to save a little of the profit for higher education for them in anticipation of helping them fulfil their dreams and home improvemment.
Loan Proposal
This loan when approved will be used to bye car battries to stock my shop. Average price for the battery is $100 and i retail with profit between $10 and $15 on each. i make averagely $50 every week but on a good day $80. If i am able to sell more battery then i will make more money which inturn will able to pay my worker also well and take care of my family as well.
Feedback
Positive
None
Neutral
None
Negative
None
Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Jan 21, 2015
Repayment status
On Time
Projected term
3 months
Lenders
Summary
Amount repaid
$109.67
Amount remaining
$0.00
Date repaid
Jun 22, 2015
Status
Fully repaid
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| Feb 1, 2015 | $10.67 | Feb 1, 2015 | $10.67 |
| Feb 8, 2015 | $10.67 | Feb 8, 2015 | $10.67 |
| Feb 15, 2015 | $10.67 | Mar 3, 2015 | $10.67 |
| Feb 22, 2015 | $10.67 | Mar 3, 2015 | $10.67 |
| Mar 1, 2015 | $10.67 | Mar 16, 2015 | $10.67 |
| Mar 8, 2015 | $10.67 | Mar 16, 2015 | $10.67 |
| Mar 15, 2015 | $10.67 | Mar 16, 2015 | $10.67 |
| Mar 22, 2015 | $3.33 | May 21, 2015 | $3.33 |
| Mar 29, 2015 | $3.33 | May 21, 2015 | $3.33 |
| Apr 5, 2015 | $3.33 | May 21, 2015 | $3.33 |
| Apr 12, 2015 | $3.33 | May 21, 2015 | $3.33 |
| Apr 19, 2015 | $3.33 | May 21, 2015 | $3.33 |
| Apr 26, 2015 | $3.33 | Jun 22, 2015 | $3.33 |
| May 3, 2015 | $3.33 | Jun 22, 2015 | $3.33 |
| May 10, 2015 | $3.33 | Jun 22, 2015 | $3.33 |
| May 17, 2015 | $3.33 | Jun 22, 2015 | $3.33 |
| May 24, 2015 | $5.00 | Jun 22, 2015 | $5.00 |
Ask Francis Kwasi a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.