Cassava farming and processing

Paul Ede Ugwu

Umuahia, Nigeria

100% repaid

Entrepreneur

Name

Paul Ede Ugwu

Location

Umuahia, Nigeria

On-time repayments

10 weekly installments  •  90%

About Me

I am Ugwu Paul.E. from Enugu State.I have interest in farming cassava and processing of cassava. Because with cassava we can get flour, ethanol,gari,starch and animal feed. I also teach rural farmers modern agricultural practices as it relates to cassava farming and processing. My wish is to have a cassava processing factory, where I will employ people and train young people in South East of Nigeria.

My Business

My business is cassava farming and cassava processing factory. From one hectare of I can earn #150,000.00 net profit after processing monthly.If I expand I will earn more.thanks.

Loan Proposal

I have started clearing my new farms.i intend to clear up to 5 hectares of land this farming season.i also harvest my old cassava plots,process sell and make money.This helps me to repay the loan and expand my cassava business.My target is to Farm 10 hectares of land.Buy processing equipment and packaging equipment.And tractor,planter and harvester.

Income Source

The major risk is fear of failing in the cassava farming and processing business.Others include draught,Low yield and poor sells.i can provide for some of them through insurance, divesting in other businesses. Moreso, spreading my farms in different locations.Shifying work can also help.Am hungry to expand my business.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$31.58

Date disbursed

Jun 23, 2021

Repayment status

On Time

Projected term

5 weeks

Cost to entrepreneur

Service fee: 5% of $31.58 = $1.58

Credit risk payment: $4.74

Lenders

Heather

Taree, NSW, Australia

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