Name
Michael
Member since
January 2015
On-time repayments
32 installments • 72%
My name is Michael Ofosu. I am 30 years of age. I come from Berekum in the Brong Ahafo Region of Ghana. I am in a family of three and the first son of my parents. Am married, and have a one year old child .I started my education at Berekum Methodist Basic School and furthered at the Berekum Senior Secondary School. After a successful completion, I went to St Joseph College of Education where I pursued a Diploma in Education. Had my Degree in Education at the University of Education Winneba. Currently I am a Basic school Teacher. Aside my teaching profession
I am into sale of home appliances. I started the sale of home appliances due to the high demand of such goods in my community. Currently I have one store and a warehouse for keeping my goods I hope to expand my business to meet the market demand of my community
I started the sale of home appliances in the year 2007. I started my business with a capital of about 500 dollars from a loan I secured from a bank. I opted for this business due to the demand of such goods in my community. People had to travel for miles to the cities to buy their home appliances. I found out the need to go into the business because electricity was first introduced to most of the communities around and peoples taste and preference for home appliances rose. I stared the business with one store assistant but now I have four assistants. I have in stock televisions, pressing irons, electric fans, sound systems, blenders, hand dryers, microwaves and other home appliances. I hope to extend my business to include the sale of computers and their accessories’ I will need about 3000 dollars to embark on this business plan. I will use the requested amount to rent new store rooms and add other stock. I hope with Zidisha I will be able to make it.This loan facility will help me employ other assistants thereby creating employment for them to assist in taking care of their wards in school. with this loan I expect to make a prifit of not less than 250 dollars amonth.
REPAYMENT
I will be able to repay the loan from the sale of the appliances I make.
Through zidisha i have been able to improve upon my business.i look forward to acquiring this loan to add more stock to my sales.i will use this loan to by more pressing irons,blenders ,microweves and supply them to schools and other organisations such as hotels which constantly are in demand for my goods.i look forward to making a profit of not less than 50%within the stipulated period of this loan
Positive
3
Neutral
None
Negative
None
Project Type
Classic Loan
Disbursed amount
$362.00
Date disbursed
Aug 18, 2015
Repayment status
Late
Projected term
3 months
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Amount repaid
$153.00
Amount remaining
$198.25
Expected completion
Nov 29, 2015
Status
Repaying late
Installment amount
$25.50
Expected Payments | Actual Payments | ||
---|---|---|---|
Aug 30, 2015 | $25.50 | Aug 31, 2015 | $25.50 |
Sep 6, 2015 | $25.50 | Sep 6, 2015 | $25.50 |
Sep 13, 2015 | $25.50 | Sep 15, 2015 | $25.50 |
Sep 20, 2015 | $25.50 | Sep 29, 2015 | $25.50 |
Sep 27, 2015 | $25.50 | Sep 30, 2015 | $25.50 |
Oct 4, 2015 | $25.50 | Oct 6, 2015 | $25.50 |
Oct 11, 2015 | $25.50 | ||
Oct 18, 2015 | $25.50 | ||
Oct 25, 2015 | $25.50 | ||
Nov 1, 2015 | $25.50 | ||
Nov 8, 2015 | $25.50 | ||
Nov 15, 2015 | $25.50 | ||
Nov 22, 2015 | $25.50 | ||
Nov 29, 2015 | $19.75 |
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