A loan of $950 helped to buy phone accessories, DVDs and phone batteries.

Saidu's story

This is 31 year-old Saidu. He is married and his spouse is a student, and has one child aged 4 years old. In 2009, Saidu established his mobile phone accessories, top-up cards, DVD cassettes business. He began his business because he dropped out of school due to poor living standard of his family. His parents usually paid his fees late and he was frequently embarrassed and beaten for school fees. He later left school and became a vehicle apprentice. He spent some years there and decided to go into business.

Working 7 days a week and 19 hours a day, he earns about SLL 2,448,000 every month from this business, he would like a loan in the amount of Le 4,500,000. Saidu has already received and successfully repaid 3 loans, and now requires a new loan in order to buy phone accessories (20 @ SLL 120,000), DVDs (1 carton @ SLL 600,000), phone batteries (200 pcs @ SLL 7,000); the remaining amount is for transport.

He hopes that this loan will enable him to increase his monthly profits by approximately SLL 411,000. In the future, Saidu plans to build a house, improve on his farm and educate his child to university level. His feels happy about taking this loan that will help to improve his business and earn more income. His major problem is sometimes the generator breaks down. There is no competition. He is the only one selling these items is that area. He serves 50 customers each day. His business is popular because he knows how to encourage customers. He has only family assistance. His suppliers are located in Conakry. He transports his items by public vehicle and he buys twice in a month. He uses his profit from the business to buy more stock. He is planning to expand and this can be achieved by managing his capital appropriately. He is assisted by his distant cousin. He saves some profit and use the balance to his existing capital. He thanks you for your support.

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