Purchasing affordable flour in bulk for local schools
Patrick
Berekum, Ghana
19% repaid
Entrepreneur
Name
Patrick
Member since
January 2015
On-time repayments
71 installments • 62%
About Me
My name is Amoako Patrick.I am 32 years of age. I come from Berekum in the Brong Ahafo Region of Ghana.I am the first born of my parents.Am married with three kids. My parents are all residents of Berekum. .I started my education at The saint Monica's Basic school and furthered at the Berekum Senior High School.Upon a successful completion, I entered Wesley College and now practice as a teacher at Koraso Catholic Basic school.
My desire into operating business aside my teaching profession arose due to difficulties I uncounted having to upgrade myself and cater for my then two children. I opted for selling of flour. My passion for sale of flour arose due to my ability to read the market of my community.Today,am able to take good care of my children and currently furthering my education by distance.
My hobbies are reading, visiting friends, singing and listening to news.
My Business
I started the sale of flour and margerine in the year 2011 yet practicing as a professional teacher. I entered into sale of flour after reading the market of Berekum carefully. I raised that there where few stores which deal in the sale of flours in the community.Flour has many uses in my community since it’s a delicacy for many traditional foods in my area. Staple foods such as Akankyee ,buff loaf, bread and other pastries are also enjoyed by my people.I started the sale of flour with a base capital of about 1000 dollars but within a period of four years my base capital has increased to about 4000 dollars.Most people prefer purchasing my flour ahead of my competitors due to marketing measures I deal with my customers.For instance I offer credit offer customers.I offer credit of to boarding schools who are made to pay at the end of every month.My biggest challenge has been how to help customers convey their goods to their destination which I intend buying a truck in the near future.
I use the profits from my sales in supporting my children education as well as helping two kids I have adopted to help school school.
REPAYMENT OF LOAN
I will repay the loan from the profits I make from my sales
Loan Proposal
The demand for the flour and margarine have increase drastically and need to quickly add to the little that is left. I intend to use this loan to purchase more flour and margarine to meet the demands of my customers.I promise to pay back my loan as early as possible if I am granted the loan. Thank you very much.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$588.00
Date disbursed
Sep 18, 2015
Repayment status
Late
Projected term
65 months
Other loans
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