A loan to buy 10 acres of land for cashew farming
Laweh
Techiman, Ghana
31% repaid
Entrepreneur
Name
Laweh
Member since
July 2017
On-time repayments
63 installments • 59%
About Me
Laweh Paul is my name. I am a Ghanaian, I live Techiman in the brong ahafo region-Ghana. I am a young man of 29years old. I started basic education at Takofiano S.D.A school. I am the 4th born of my parent. I have seven siblings. My parent are farmer by profession. After my basic education a make further studies at techiman senior high school over there I studied general science thus biology, chemistry, physis and elective mathematics. When I completed my senior high school I decided to cultivate some land for my farm because we were having a very large land. My hobbies football, reading motivational books.
My Business
I am a farmer by profession who cultivate plantain, cocoyams, maize and other food crops, Now i want to add Cashew farming to my business.
My farm is located in Jema at Kintampo South District.
I will still invest in the maize, plantains, cocoyam, cassava, yam and the others so that i can repay my zidisha loans whiles waiting for the cashew land. I will use the family land to cultivate the maize the above mix crops.
Since my farming method is a mixed farming , including the maize every time i will get crops so repayment of my not will not be problem . In view of this i can support my family and the weekly repayment , because my crops is normally used in the preparation of most the food in Ghana and Africa.
Cashew takes about three (3) years to be fully mature after that it will be harvested Two (2) times in every year Continuously for more than thirty (30) years with good protection and maintenance of the farm..
My profit will increase from about $800 to about $2,000 ayear for the cashew and make about $150 to $370 within a week. This will be our major source of income Which I used it to help my family since my parent are old, my siblings education and support the vulnerable in my community, the remaining to reinvest in my farm.
Loan Proposal
I would like to apply for loan to 10 acres of land for Cashew plantation which is a cash crop.
Cashew is one the best cash crops that generate income in my community, Ghana and the world because most
factories extract oil, nutrients and other product from it nuts .
I need to buy this land because the other vas land i used for the mixed and maize farming belong to my whole extended family and so i can not grow plant the cashew on it since it will occupy the whole land space when is fully matured.
Cashew takes three years to mature.
One acre cost $260 so the Ten (10)acres would cost $2,600.
I Will use the sale i get from my mix and the maize farming to do the weekly repayment of this loan.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$70.00
Date disbursed
Feb 21, 2018
Repayment status
Late
Projected term
10 months
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