39-year-old businessman buys bank that refused to loan him GHC165,000
A businessman Adam Deering who was denied a $12,000 loan by a bank at the age of 22 has now bought the bank.
He disclosed that the bank refused to offer him the loan saying he was young and could only misuse the money.
Adam said that he wanted the money so that he can boost his small business which he had started at that time.
He never gave up even though the denial made him sad and frustrated and also he had no alternative plans.
The young man at that time had rented an office and paid for the rent in the first month with his little savings.
Adam had also rented a phone line in order to communicate with his potential customers.
“I had no money to buy a desk or a chair, so I spent 4 months on the floor,” he wrote on his Instagram page.
Luckily he got successful and now owns five-multi million businesses in the United Kingdom.
17 years later Adams had come back and acquired the bank with $523,303.35
The 39-year-old recalled how tough it was before he succeeded.
“Without the money, I spent four months cold calling people from the floor of a small office because I couldn’t even afford a desk and a chair. Those early months were so difficult, not knowing if I was going to be able to make it work and not knowing if I’d be able to pay my bills.”
He revealed in his Instagram post that he will use the bank’s building to make a mixed retail and residential unit.
