Loan to add more stock to my shop
Veronica
Nsawkaw-tain, Ghana
14% repaid
Entrepreneur
Name
Veronica
Member since
May 2015
On-time repayments
61 installments • 26%
About Me
Right from my childhood, life has been very challenging but through hard work and determination I have always overcome many hurdles. I grew up with my parents in the northern region of Ghana, specifically Tamale. Growing up I realized that my family was below average in terms of financial standing, which means that together with my siblings we had to assist our father on the farm, and my mother in her petty trading business in order to make ends meet. This helped me cultivate the habit of savings. I made sure I kept at least a fraction of any monetary gift I received from my parents, loved ones or even just pals. Day-in day-out I became more interested in saving to help me meet some of my basic necessities as a young girl without haven to depend on my parents for almost everything.
I was a quite good student academically throughout my period in school. I attended the evangelical Presbyterian primary school, and later proceeded to Nyohini presby school. I had my secondary school education at the business senior high school in Tamale, and I went on to Tamale Polytechnic, where I graduated successful with an HND in marketing. I have an uncle called John who owned a shop where he sells electronic devices such as DVD, Music CD, Movies, Television and other devices. The business kept booming, he kept maximizing profit on monthly basis. One day, my uncle phoned me about his decision to sell the business because he invested his profits into different venture that turned out unsuccessful. I protested his decision and took over the affairs of the business. I quickly invested my savings into the business and used my marketing skills to maximize sales. The business has been going on well with profit levels appreciating steadily. I believe zidisha is a good opportunity for me to expand my business and offer jobs to some young people.
My Business
I would say my business deals with goods closely associated with the entertainment sector. I retail electronic goods ranging from DVDS, CD ROM, mobile phones and accessories and similar household items such as fan and television sets. I find this business highly sustainable because as we can attest to the fact of how entertainment has become an indispensable part of human life. Honestly it is uncommon not to find these items in almost every household. A greater proportion of the people we meet daily uses at least one or more of these electronic products which goes to confirm how profitable it can be if well managed.
This is a business I took over from my uncle after he decided to transfer ownership, and I am determined to grow it into a highly profitable venture where I would be able to employ young people.
The main cost in the business includes electricity bills, cost of acquiring new stock, and cost of damages resulting from faulty appliances or breakages. So far, the business is doing well and profit levels keeping soaring up. For the next few years, I plan to expand the business by acquiring new stocks frequently, marketing my goods well and opening new branches in other places. This means a greater part of the profit made would be ploughed back into the business. I therefore need a flexible credit system where I can raise additional capital to finance my business. I see Zidisha.org as a great scheme which can assist me as an entrepreneur to grow my business to the next level.
Loan Proposal
I would like to apply for this loan to add stock to my shop. Some of the items I intent to buy are movie discs, dvd players and mp3 players. I buy the cds at a cost of around 3 GHS and is sold around 5 GHS. with the sale of about 20 cds, a profit of about 40 GHS is made. the mp3 player is bought around 20 GHS and sold around 35 GHS. With this loan, I can be able to make enough profit and expand my business. I promise to abide by all rules and regulations governing the loan as I did in the previous one. Thank you.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$265.00
Date disbursed
Sep 12, 2015
Repayment status
Late
Projected term
12 months
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Summary
Amount repaid
$35.00
Amount remaining
$222.25
Expected completion
Sep 11, 2016
Status
Repaying late
Installment amount
$5.00
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| Sep 20, 2015 | $5.00 | Sep 20, 2015 | $5.00 |
| Sep 27, 2015 | $5.00 | Sep 26, 2015 | $5.00 |
| Oct 4, 2015 | $5.00 | Oct 4, 2015 | $5.00 |
| Oct 11, 2015 | $5.00 | Oct 11, 2015 | $5.00 |
| Oct 18, 2015 | $5.00 | Oct 29, 2015 | $5.00 |
| Oct 25, 2015 | $5.00 | Oct 29, 2015 | $5.00 |
| Nov 1, 2015 | $5.00 | Nov 1, 2015 | $5.00 |
| Nov 8, 2015 | $5.00 | ||
| Nov 15, 2015 | $5.00 | ||
| Nov 22, 2015 | $5.00 | ||
| Nov 29, 2015 | $5.00 | ||
| Dec 6, 2015 | $5.00 | ||
| Dec 13, 2015 | $5.00 | ||
| Dec 20, 2015 | $5.00 | ||
| Dec 27, 2015 | $5.00 | ||
| Jan 3, 2016 | $5.00 | ||
| Jan 10, 2016 | $5.00 | ||
| Jan 17, 2016 | $5.00 | ||
| Jan 24, 2016 | $5.00 | ||
| Jan 31, 2016 | $5.00 | ||
| Feb 7, 2016 | $5.00 | ||
| Feb 14, 2016 | $5.00 | ||
| Feb 21, 2016 | $5.00 | ||
| Feb 28, 2016 | $5.00 | ||
| Mar 6, 2016 | $5.00 | ||
| Mar 13, 2016 | $5.00 | ||
| Mar 20, 2016 | $5.00 | ||
| Mar 27, 2016 | $5.00 | ||
| Apr 3, 2016 | $5.00 | ||
| Apr 10, 2016 | $5.00 | ||
| Apr 17, 2016 | $5.00 | ||
| Apr 24, 2016 | $5.00 | ||
| May 1, 2016 | $5.00 | ||
| May 8, 2016 | $5.00 | ||
| May 15, 2016 | $5.00 | ||
| May 22, 2016 | $5.00 | ||
| May 29, 2016 | $5.00 | ||
| Jun 5, 2016 | $5.00 | ||
| Jun 12, 2016 | $5.00 | ||
| Jun 19, 2016 | $5.00 | ||
| Jun 26, 2016 | $5.00 | ||
| Jul 3, 2016 | $5.00 | ||
| Jul 10, 2016 | $5.00 | ||
| Jul 17, 2016 | $5.00 | ||
| Jul 24, 2016 | $5.00 | ||
| Jul 31, 2016 | $5.00 | ||
| Aug 7, 2016 | $5.00 | ||
| Aug 14, 2016 | $5.00 | ||
| Aug 21, 2016 | $5.00 | ||
| Aug 28, 2016 | $5.00 | ||
| Sep 4, 2016 | $5.00 | ||
| Sep 11, 2016 | $2.25 | ||
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