Tuition fees for university education
Benjamin
Tarkwa, Ghana
100% repaid
Entrepreneur
Name
Benjamin
Member since
May 2015
On-time repayments
340 installments • 90%
About Me
Well I'm in the person of Benjamin Suboni, the fourth child out of seven children from my mother's side thus three boys, four girls. Currently my father has two wives with my mum being the second wife. In total we are seventeen children in the family having lost one at an early age. l hail from the northern part of Ghana where poverty with its ugly face is ubiquitous as the housefly. My parents are peasant farmers and life as a child was really difficult and challenging.
Formal education is foreign in my family as almost all my siblings before me either refused to go school or drop-out at an early stage or were not send to school at all. I defied all odds and used to follow one of my elder brothers to school who later dropped out. I started my education at the primary level not knowing what kindergarten or creche meant. Most times I went to school with an empty stomach but due to determination I never gave up. Initially I wanted to be a Medical Doctor in the future due to a bitter experience I had with the loss of my brother to acute appendicitis and there was no Doctor to operate him at the District Hospital but that has now changed to my ambition of being a seasoned entrepreneur. Through the ingenuity of my elder brother I learnt to be a cobbler. After school I used to go around polishing and mending people's shoes, sandals etc in the locality. From the proceeds of the cobbler business I was able to fund my education to the Senior High level and even sometimes fund my siblings education.
As of now I am a trained professional teacher and due to the numerous family demands I decided to establish this provisions store to cushion me in taking care of my family. Also with my father now old and not able to contribute much financially, coupled with my siblings at various levels of the educational ladder, the onus falls on me to take of them.
The provisions shop has been in operation for two years running but now there is the need to grow and expand it hence the need for this loan facility.Its my ambition to develop it into a supermarket one day.
As a result of my current family responsibilities it will not be prudent for me to marry now but then one day I will and when that happens I want my children to have the best of education life can offer. Never should they go through the suffering and hardships I underwent in my childhood. I love playing football, basketball and listening to music and financial news
My Business
Fundamentally I run a retail business whereby basic household ingredients like sugar, toothpaste, gari, rice, bread etc are sold to customers. These ingredients are household necessities that are in high demand hence my choice of business. Also before I established my store, customers within the locality had to commute long distance before the could acquire these necessities. Most of the times I purchase these products from wholesale outlets and retail them to customers.
Due to the exorbitant interest rates usually charged by banks vs-a-vie financial institutions coupled with bureaucratic and cumbersome processes of accessing a loan facility I started this business with savings from my meager salary. And for two years now I've managed to keep the business afloat despite the economic downturn.
Typically I make a monthly revenue of 2000 GHS with profit in the range of 500 GHS. Most part of the proceeds is usually plowed back into the business and the rest used to settle family and personal issues.
I chose this medium to acquire a loan facility due to the almost interest free, flexible payments and quickness of the loan disbursal. Parts of proceeds from the business and my salary would be used to reimburse the loan should it be granted.
Loan Proposal
This loan amount shall be used to pay for the tuition and accommodation fees of my younger brother who gained admission to study Geological Engineering at the University of Mines and Technology, Tarkwa. I would appreciate it if this loan can be raised as quickly as possible as I urgently need it. Thanks
Feedback
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Loan Info
Project Type
Classic Loan
Disbursed amount
$630.00
Date disbursed
Nov 16, 2018
Repayment status
On Time
Projected term
16 months
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Austin, TX, United States
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Summary
Amount repaid
$630.45
Amount remaining
$0.00
Date repaid
Dec 29, 2019
Status
Fully repaid
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| Nov 28, 2018 | $28.99 | Dec 3, 2018 | $28.99 |
| Dec 5, 2018 | $5.18 | Dec 5, 2018 | $5.18 |
| Dec 12, 2018 | $5.18 | Dec 5, 2018 | $5.18 |
| Dec 19, 2018 | $5.18 | Dec 5, 2018 | $5.18 |
| Dec 26, 2018 | $5.18 | Dec 5, 2018 | $5.18 |
| Jan 2, 2019 | $28.99 | Dec 27, 2018 | $28.99 |
| Jan 9, 2019 | $5.18 | Dec 31, 2018 | $5.18 |
| Jan 16, 2019 | $5.18 | Dec 31, 2018 | $5.18 |
| Jan 23, 2019 | $5.18 | Dec 31, 2018 | $5.18 |
| Jan 30, 2019 | $5.18 | Dec 31, 2018 | $5.18 |
| Feb 6, 2019 | $5.18 | Feb 6, 2019 | $5.18 |
| Feb 13, 2019 | $5.18 | Feb 6, 2019 | $5.18 |
| Feb 20, 2019 | $5.18 | Feb 6, 2019 | $5.18 |
| Feb 27, 2019 | $5.18 | Feb 6, 2019 | $5.18 |
| Mar 6, 2019 | $5.18 | Mar 5, 2019 | $5.18 |
| Mar 13, 2019 | $5.18 | Mar 5, 2019 | $5.18 |
| Mar 20, 2019 | $5.18 | Mar 5, 2019 | $5.18 |
| Mar 27, 2019 | $5.18 | Mar 29, 2019 | $5.18 |
| Apr 3, 2019 | $5.18 | Mar 29, 2019 | $5.18 |
| Apr 10, 2019 | $5.18 | Apr 12, 2019 | $5.18 |
| Apr 17, 2019 | $5.18 | Apr 18, 2019 | $5.18 |
| Apr 24, 2019 | $5.18 | Apr 18, 2019 | $5.18 |
| May 1, 2019 | $5.18 | May 2, 2019 | $5.18 |
| May 8, 2019 | $5.18 | May 2, 2019 | $5.18 |
| May 15, 2019 | $5.18 | May 22, 2019 | $5.18 |
| May 22, 2019 | $0.00 | ||
| May 29, 2019 | $0.00 | ||
| Jun 5, 2019 | $5.18 | May 31, 2019 | $5.18 |
| Jun 12, 2019 | $5.18 | May 31, 2019 | $5.18 |
| Jun 19, 2019 | $5.18 | Jun 27, 2019 | $5.18 |
| Jun 26, 2019 | $5.18 | Jun 27, 2019 | $5.18 |
| Jul 3, 2019 | $5.18 | Jun 30, 2019 | $5.18 |
| Jul 10, 2019 | $5.18 | Jun 30, 2019 | $5.18 |
| Jul 17, 2019 | $5.18 | Jun 30, 2019 | $5.18 |
| Jul 24, 2019 | $5.18 | Jun 30, 2019 | $5.18 |
| Jul 31, 2019 | $5.18 | Jul 31, 2019 | $5.18 |
| Aug 7, 2019 | $5.18 | Jul 31, 2019 | $5.18 |
| Aug 14, 2019 | $5.18 | Jul 31, 2019 | $5.18 |
| Aug 21, 2019 | $5.18 | Jul 31, 2019 | $5.18 |
| Aug 28, 2019 | $5.18 | Sep 1, 2019 | $5.18 |
| Sep 4, 2019 | $4.14 | Sep 1, 2019 | $4.14 |
| Sep 11, 2019 | $4.14 | Sep 1, 2019 | $4.14 |
| Sep 18, 2019 | $4.14 | Sep 1, 2019 | $4.14 |
| Sep 25, 2019 | $4.14 | Sep 1, 2019 | $4.14 |
| Oct 2, 2019 | $4.14 | Sep 1, 2019 | $4.14 |
| Oct 9, 2019 | $4.14 | Sep 26, 2019 | $4.14 |
| Oct 16, 2019 | $4.14 | Sep 26, 2019 | $4.14 |
| Oct 23, 2019 | $4.14 | Sep 26, 2019 | $4.14 |
| Oct 30, 2019 | $4.14 | Sep 26, 2019 | $4.14 |
| Nov 6, 2019 | $4.14 | Sep 26, 2019 | $4.14 |
| Nov 13, 2019 | $4.14 | Sep 26, 2019 | $4.14 |
| Nov 20, 2019 | $4.14 | Sep 26, 2019 | $4.14 |
| Nov 27, 2019 | $4.14 | Sep 26, 2019 | $4.14 |
| Dec 4, 2019 | $4.14 | Sep 26, 2019 | $4.14 |
| Dec 11, 2019 | $4.14 | Dec 19, 2019 | $4.14 |
| Dec 18, 2019 | $0.00 | ||
| Dec 25, 2019 | $4.14 | Dec 19, 2019 | $4.14 |
| Jan 1, 2020 | $4.14 | Dec 29, 2019 | $4.14 |
| Jan 8, 2020 | $4.14 | Dec 29, 2019 | $4.14 |
| Jan 15, 2020 | $4.14 | Dec 29, 2019 | $4.14 |
| Jan 22, 2020 | $4.14 | Dec 29, 2019 | $4.14 |
| Jan 29, 2020 | $28.99 | Dec 29, 2019 | $28.99 |
| Feb 5, 2020 | $28.99 | Dec 29, 2019 | $28.99 |
| Feb 12, 2020 | $28.99 | Dec 29, 2019 | $28.99 |
| Feb 19, 2020 | $28.99 | Dec 29, 2019 | $28.99 |
| Feb 26, 2020 | $28.99 | Dec 29, 2019 | $28.99 |
| Mar 4, 2020 | $28.99 | Dec 29, 2019 | $4.14 |
| Dec 29, 2019 | $24.85 | ||
| Mar 11, 2020 | $28.99 | Dec 29, 2019 | $28.99 |
| Mar 18, 2020 | $28.99 | Dec 29, 2019 | $28.99 |
| Mar 25, 2020 | $28.99 | Dec 29, 2019 | $28.99 |
| Apr 1, 2020 | $28.99 | Dec 29, 2019 | $28.99 |
| Apr 8, 2020 | $13.46 | Dec 29, 2019 | $13.46 |
David Nov 5, 2018
Benjamin Nov 6, 2018
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