Bag of rice and sugar for my shop

Rene Gyimah

Odumasi, Ghana

100% repaid

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How it Works

Entrepreneur

Name

Rene Gyimah

Member since

August 2015

On-time repayments

145 installments • 71%

About Me

I was born into a family of six and my childhood was filled with going to farm and trekking long journeys to school . I am a teacher after completing teaching college . Going to school was a hurdle as none of my siblings went to basic school. I had to fetch and sell during weekend and after school to survive with my school fees. The provisions started when I was posted to a village and it was hard getting milk and sugar to buy because I've to walk to another village for it. It was just a table top business but later saved and expanded to this level through prudent measures I put in place
I want my children to enjoy a childhood of happiness and have peace to pursue their education they can
I'd like this business to flourish into a bigger one where I would be a main distributor of provisions in my district one day. my hobbies are watching football and singing

My Business

I provide gari,sugar,bebe drink,milo,milk,salt,maggie cube,milk powder,toilet roll,pen,pencil,eraser,chalk,diapers,insecticides,sachet and mineral water, sharpener,toffees,blade,disposal razor,airtime credits and sardines. These are aome of the things i sell and when demand increases i may buy what is needed. Since my money i meagre i usually run out of stock and spend money to pay for transportation which all goes against the business.
Business is good here and revenue per week is about eighty Ghana cedis and the profit is reinvested. My business is in good standing since everything is written down. I use my profit to reinvest in my business

Loan Proposal

This capital will be used to buy a bag of rice for $52 and a bag of sugar which is $50. There is a lot of demand for sugar but I don't have the funds so I buy in small quantities and it finishes at a fast rate thereby making me disappoint a lot of my clients. People also buy rice in small quantities and when I get a bag, it will be able to satisfy my customers. my profit of $12 will increase to $18 per week due to the loan.