Entrepreneur
Name
Mohammed
Member since
August 2017
On-time repayments
21 installments • 43%
About Me
I am Mohammed Bature from a family of five children and two parents, thus my father and mother. I am the first born of my parents. My area is a farming land as such the main activity is farming. Due to economic hardship I had no option than to learn apprenticeship after completion of Junior High School. A friend of my father was operating a barbering shop and I was asked to learn from him in the next Town or community. Upon completion of my apprenticeship I started working under a Mango Tree in front of where we were staying by then. Gradually, with a little savings I was doing and proceeds from farming I engaged in I managed to open barbering shop which I am operating now. I have four children I am taking care of. Since I could not aspire high in education; I want my children get higher education. Some of them would like to be nurses, teachers and others join the security forces.
My Business
I am a Barber shaving peoples hair and bear for living. Every now and then people shave their hair, whether being an adult or children including school children. I learnt barbering because my parents could not afford to let me further my education.
The cost of my business ranges from $200 to $1500 annually which involves the cost of energy, equipments, creams, etc. I earn about $35000 annually. Part of this income is reinvested in the business and the rest is used to pay school fees and use as housekeep money. I also use some to provide accommodation.
Loan Proposal
I need this money to buy barbering equipments such as shaving machines, sterilizers, shaving creams, spotting waves creams, etc. After buying these items the rest of the money will be used to pay for the cost of energy.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$61.00
Date disbursed
Nov 23, 2017
Repayment status
Late
Projected term
3 months
Other loans
Lenders
United States
Germany
Phoenix, United States
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