Loan for expansion

Entrepreneur

About Me

I'm Solomon Assimeng Kwarteng from Ghana. I'm 27 years of age and the last born of my parents, I currently hold a bechelor of science degree in Agribusiness Management & Finance. I am of the convection that entrepreneurship is the backbone behind every successful economy. During my University education I started few Agribusiness projects (Apiary for honey production, training of farmer on mushroom production) which really helped me financially during my stay in the university. I'm always looking for ways and privilege to develop myself so as to make good use of opportunities when they arrive, my motto have always been "if it must be done it must be done well"

My Business

I am into the production of fresh yoghurt, I package the yoghurt in 200ml and 350ml bottles with the brand name new era foods. Because it is a young business i'm looking at gaining market spot with less expensive and quality products, which means my profit margin is minimal. I sell about 80% of my product on the street by hiring people to sell it in the traffic and other public places and I distribute the remaining to nearby drink shops. Because my product is of good quality and less expensive it's demand is increasing. I also organise training workshops for people on how to produce mushroom and also set-up apiary for honey bee. I again have a training sections that targets only farmers, I train them on the importance of keeping farm records and also the effective and efficient ways of keeping these records. My aim is to help these farmers to see farming as a business but not a way of life

Loan Proposal

I am into fresh yoghurt production with brand name new era foods, because the business is young I'm using affordability and quality as my marketing strategy to penetrate the already existing yoghurt market, the strategy is really working which means there is an increasing demand for my product. In order to meet the increasing demand I need to increase my weekly production which will come with additional cost (expansion cost). Specifically I need assistance/loan to purchase sizeable deep freezer which will cost 280 dollars, two ice chest which also cost 25 dollars each (that 50 dollars for the two), making a total 330 dollars. Currently I hire four hawkers in selling my product on the street. If I am able to expand this young business I will be able to employ additional four hawker in addition to the existing four making a total of 8 employees. Again I will be able to increase my profit about 80% which gradually I will attain financial liberty and also help others in attaining financial freedom as well, and also contributing my quota in building the nation's economy

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