The project

Mother Riturk Enterprise is a wholly owned Ghanaian business which was registered under the registration of Business Name, Act 179, 1962 with registration number BN-16,203E as a sole proprietorship business, the business was registered on 1st August 2011. Customer has been in this business for over twenty years before it registration. Customer is into wholesale and retail of (FMCG) groceries and confectioneries known in Ghanaian settings as ‘Provisions’ at Kasoa New Market. The Fast Moving Consumer Goods (FMCG) are products that are sold quickly and at relatively low cost. Such goods include non-durable goods made up of soft drinks, toiletries, bags of rice, sugar and grocery items, etc.

Among some of customer’s renowned suppliers are key distributors of Unilever Ghana Limited, Cadbury Ghana Limited, Nestle Ghana Limited, Royal Leash limted, AJS company limied, H& H Company limited and many more.

Customer makes an average daily sale of GHS 3,000. Her pattern of purchase is normally through issuance of cheque and transfers of funds to her suppliers account. Customer has a van with workers who also goes round to distribute products to her customers at various market centers in an around the central region of the country.

Lendahand will provide the loan to Rita, together with local partner ABii National. The loan will be repaid in 12 months.

Collateral:

1.Assignment of a 2001 model H200 Van with Reg: GW 448-13 OMV: 55,000 and FSV: 27,000 which belongs to customer.

2. Assignment of stock worth GHS 40,000 with All risk insurance to cover stock worth of GHS 30,000.