Loan to grow and expand my clothing and bags business
Charity
Sunyani, Ghana
100% repaid
Entrepreneur
Name
Charity
Member since
January 2015
On-time repayments
359 installments • 59%
About Me
About Me
I am Charity Asoelaa,26 years old, am married with a child and I live in Sunyani I finished high School With good grades but cold not go to the University because of finance. So I have started a clothing and bags business.
My Passion is in entrepreneurship and because of that, I have started this clothing business , I love doing business and feel so fulfilled when I am in business.
I love soccer and an ardent lover of business documentaries. I equally love reading business Inspirational books and listening to business tapes.In fact, I have come very far from being the struggle in poverty as an orphan , therefore I am not relenting to achieve my desired dream by owning a group of companies.
I believe in the possibility theory. But however one must always uphold the virtues of honesty, sincerity, genuineness and trustworthiness .
My Business
l am into the sale of clothing and bags that is all categories of bags and clothing which are of higher demand.
The goods are useful and of hire demand because they are goods of necessity which human cannot do without. This is because after eating, one must also cloth him or herself without walking naked.
I chose this type of business because it is profitable and are not perishable .
The typical cost of the goods are the purchasing cost ,transportation cost and roaming cost to clients because i do not have a store therefore operates from the house by going to my clients .since that one involve boarding a taxi from area to another. With the current cost I incur for a consignment 400 US Dollars . 350 US Dollars is the cost of buying the goods from the distributors and then 50 US Dollars for transportation to my destination of business and delivery cost to client in their various areas .
The business is so lucrative with only 0.1% risk of some items not bought on time . Some of the goods are bought at a unit price of 10 US Dollars , 8 US Dollars, 7 US Dollars and others 5 US Dollars and 2 US Dollars.
Therefore the revenue stream is as follows; A profit of 4 and 3 US Dollars is added to each of the unit price of the good depending on the type . However The profit gain is reinvested in growing the business.
Loan Proposal
I want to thank my valuable lenders for funding my previous loan. I am most grateful, but wish to apply for my second loan to enable me purchase more goods to meet my clients demand. The previous loan has helped me to be able to get in touch with very good and potential clients just that I still lack funds to meet all their demands. I will therefore be very much grateful if my loan is funded. I promise to payback without any default as I previously did. thank you so much
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Loan Info
Project Type
Classic Loan
Disbursed amount
$171.00
Date disbursed
Apr 29, 2015
Repayment status
On Time
Projected term
8 weeks
Other loans
Lenders
San Francisco, CA, United States
Australia
Taiwan
United States
United States
United States
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Summary
Amount repaid
$168.00
Amount remaining
$0.00
Date repaid
Jun 19, 2015
Status
Fully repaid
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| May 10, 2015 | $21.00 | May 10, 2015 | $21.00 |
| May 17, 2015 | $21.00 | May 16, 2015 | $21.00 |
| May 24, 2015 | $21.00 | May 22, 2015 | $21.00 |
| May 31, 2015 | $21.00 | May 30, 2015 | $21.00 |
| Jun 7, 2015 | $21.00 | Jun 6, 2015 | $21.00 |
| Jun 14, 2015 | $21.00 | Jun 14, 2015 | $21.00 |
| Jun 21, 2015 | $21.00 | Jun 16, 2015 | $21.00 |
| Jun 28, 2015 | $21.00 | Jun 19, 2015 | $21.00 |
Margaret May 29, 2017
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