To expand my clean water distribution service
Stephen
Berekum, Ghana
68% repaid
Entrepreneur
Name
Stephen
Member since
April 2015
On-time repayments
125 installments • 23%
About Me
I am Gyan Stephen, a young Ghanaian who started my basic education at Berekum Grace primary school. I then continued to Berekum Senior High School and completed in 2009. I am the eldest of four with two of my junior brothers currently at the Senior High School. I have graduated from the Professional Institute where I studied professional courses in customer services and sales and marketing at Accra. After my graduation, I decided to set up a water production and distribution company with my uncle who offered Chemistry at the Kwame Nkrumah University of Science and Technology in Kumasi. I started this company to generate a little income to help my mother take care of the younger ones. She is truly a hard working woman and I thank her for whatever she has done for me but I feel it is time for me to fend for myself. My people are kind and care for each other. I like watching football and also reading books.
My Business
At the company, we manufacture filtered water and sell to customers around and far from the area. We have wholesale and retails. The water we manufacture is really needed for healthy growth. The demand for the water is very high because people require water each day. It is essential to the body and helps the body carry out so many life processes. I chose to do this type of business with my uncle because I realized that my community lacks clean source of water. There are so many water wash diseases in the community since the access to water is not enough. Also I chose this business to raise some funds to help my family and some needy ones in the community and the whole region as well. We don't spend much each month since this is a start-up company. Apart from the heavy machines we use, each month, we spend about close to $400. Right now, we are doing reinvestment so we don't save all the money. We generate profit though. We have decided to reinvest the profit we get from the expansion of the company when the loan is given to us. Thank you.
Loan Proposal
Thank you for my first loan. After graduation, I have set up a water production and distribution company. It is a new company though. When I am given the loan I have requested, I will buy more sachet rubbers, hire enough workers, hire tricycles normally called motor King in Ghana, and filter, and membranes. These will cost around $600 to $700 so I will support it with the little that I have been able to raise. Since there are so many remote areas here, I will first buy the motor King so that I am able to supply the areas where the heavy trucks cannot go. It has been reported that most of my are ill due to cholera so I have decided to make it my responsibility to provide them clean and safe water. This will help reduce the water washed and water borne diseases in the community and provide healthy growth. The loan will increase my profit by about 30% and also help my people in the area. Thank you.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$285.00
Date disbursed
Sep 21, 2015
Repayment status
Late
Projected term
25 months
Other loans
Lenders
United States
Denver, CO USA, United States
United States
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