Expansion of production of plantain chips

Bright

Accra, Ghana

89% repaid

Follow Bright

How it Works

Entrepreneur

Name

Bright

Member since

March 2015

On-time repayments

133 installments • 73%

About Me

My name is Bright Ofori Boateng. I come from Kwahu in the Eastern region of Ghana. I started my basic education at Cherith preparatory school in Accra and further moved to Nkwatia Secondary School where I had my secondary education. I studied business because I had a lot of passion for the course and business itself. Due to hardship in my family, I sometimes have to raise money to pay my own school fees and cater for myself and for the family. I have been doing business since then to earn a living. Although I am not married, I have siblings I cater for and all add up as a source of inspiration and joy.

My Business

I am into plantain chips with two varieties that is, ripped plantain and unripe plantain. The demand for the chips is very high because it serves as a food supplement for people. The demand keeps rising as plantain is in stock at the market. Basically, I have ten boys who sell the quantity of chips in traffic and toll booth across the country of Ghana. Because of the demand of plantain, some of the boys have to stay home because the capital to buy a lot of plantain and other stuffs is inadequate. I intend to use the profit to feed myself and use part also to pay my bills.

Loan Proposal

I will use the loan to buy additional stock of plantain for the company. Also, I will buy a sealing machine to replace the use of candle to seal my products (Curb health hazards). Several cooking oil would be bought in order to increase production and use part of the loan to expand some of our assets which is quite expensive. I hope the lender can help my loan in make a living.
Breakdown:

Loan = GHC 349 ~ $89

Sealing machine..............1 @ 150GH ~ $38
Sack of plantain............1sack @ 140GH ~ $ 36
Veg. Oil (25Kg)..............1 gallon @ 50GH ~ $13

The rest would be invested into transportation of the materials listed above.

After production, a quantity of 100 chips would be produced which would be sold for GHC5 ~ $1.3

A total of $130 would be raised after sales.

Therefore profit = $130 - $89 = $41 ~ GHC159

The profit would then be ploughed back into the business to increase production and labour(employment).

Please help me fund this loan to increase production and growth of my business.