I am Akosua Akumwaa Opoku Meidt. Vicwax Enterprise – of which I am a sole proprietor, has been in the import, wholesale and retail of kitchenware and home appliances business in the new Makola Shopping Mall since 2007. Over those years, my client base has grown to encompass many people from all over the country.
Before I joined CalBank, I could not meet the demand from my customers and I lacked enough funds to get in more supplies – I was just overwhelmed! I tried accessing loans from some banks, but they were all not successful as I could not provide the collateral that they required to qualify for a loan.
This was a big challenge since I was under constant pressure from my clients and in the process, I even lost some because of my inability to meet their demands. I also had issues paying for shipping and clearing charges.
I joined Calbank in 2020 and was introduced to the CalBank Obaapa Loan when I presented my challenges to my Relationship Officer. What attracted me to this loan scheme was that the special collateral arrangement and the concessionary rate (solely for women), were just what I was looking for.
With their dedicated Women’s Banking Unit, they ensured that I had the best customer service and financial advisory services whenever I needed them. The timing of the loan was also perfect because it came when I needed it most (During the COVID-19 lockdown, when manufacturing companies were demanding a down payment before orders were produced and shipped).
Looking back, I will say that CalBank Obaapa Loan has been a game-changer for my business. I used part of it as working capital support (i.e., to purchase stock) and the other part to pay for shipping and clearing charges.
My business has expanded as well as my clientele. Now, because of CalBank Obaapa Loan, I can even buy from local suppliers whose terms are usually not conducive so that I meet the demand of my clients. The growth of the business has even necessitated the employment of four more permanent staff separate from temporary workers.
In the next five years, I see this business growing even more and relocating to a bigger space, and opening outlets in at least two other markets in Accra. With the help of CalBank, I know that the journey will be smooth.
I have already recommended CalBank to some of the market women and they have responded by also opening accounts with Calbank. I will always recommend the CalBank Obaapa Loan to women for its flexibility. I will spread the good news to every entrepreneur to switch to CalBank.
I enjoy the services of CalBank, especially, their customer service. I would like to use this opportunity to thank CalBank for thinking about women who are mostly neglected, and coming up with this timely solution for us. I encourage every businesswoman to join the CalBank Women’s Banking – where they walk the talk.