Expand Inventory of Ladies' Bags

Richard

Obuasi, Ghana

100% repaid

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How it Works

Entrepreneur

Name

Richard

Member since

April 2016

On-time repayments

146 installments • 49%

About Me

Born and raised in Obuasi, Ashanti Region of Ghana, I have always loved this town for its business opportunities it creates. At elementary school, I developed an intense enthusiasm for business management and entrepreneurship. So I pursued business electives as my course of study at high school and graduated with distinction mostly due to my urge for trade. Coming from a less privileged home, I still overcame the challenges of spending and saved quite an amount of money to realize my dreams of becoming a renowned businessman in my town. Though it has not being all roses but I have developed a philosophy of saving more, reinvesting more and expecting more. This philosophy has helped me throughout these years.

My Business

Bags retail has being my business since graduating from school. I conceived this business idea whilst still a student. This was due to the fashion trend that hit the school and the nation at large. Ladies would prefer once daily meal with luxurious wardrobe to a less-fashionable three square meal a day. After graduating, I commenced this ladies bags business with the little savings I had accumulated over time. With a 20% profit at start, mainly due to the high demand of the bags, I knew straight ahead that with a high business capital I would soon become a big businessman. Though supporting my little siblings, I always manage to reinvest at least 55% of the business profits.

Loan Proposal

Up until now, my business has thrived only on the initial capital raised from my savings and profits reinvested. Though there are prospects for the bags business due to its high demand, it has not been easy raising a loan facility to expand my business in an underdeveloped country like Ghana especially when without a loan collateral. Having heard of this reputable loan platform, I believe I will be able to expand my business through your benevolent lending with a profit expectation of about 35%. With your lend-lease, am certain you can put a smile not only on my face but also on the faces of the whole family that depend on my support. Thank you for your kindness.