5 weekly installments • 80%
I'm Bonjei Manega , I'm 41years old. I'm a farmer who farm in large quantities specifically, I farm yams, maize, groundnut and rice. I'm married to a wife with four children and other siblings who depends on me for a living. I pay their school fees, clothes them and provide other basic needs for them through my farming. I want to become more self sufficient and depend by increasing my farm size when you grant me the loan. I also real fowls and goats beside my farming. I believe with your loan it will help me so much to expand my farming and animals rearing business. I hoping to become a commercial farmer in future and also become great on my own. With your loan, some of my burden will reduce and I will be able to provide for my siblings and children as well.
I get money from the sale of my farm products. I also store some of the foodstuffs when when the price increase then, I sell them to get profit. For instance,rice and animals are in high demand now so I'll sell them to make higher profit for myself.
I will use the loan to buy more yam sets to enlarge my farm. I will also use the loan to buy more livestocks and resale them because they are in high demand in this Christmas season, this will yield me more profit. Groundnut and other foodstuffs is what I deal in so I'm going to o buy more and sell those that can give me profit now and store the rest so that when the price increases, I will sell to get my profit to expand my business.
Once there is high demand for my livestocks more will be bought for resale to make my profit so that I can pay back the loan. also I will buy non perishable n profitable goods that can stand the test of time for future sales. I will invest in other areas business also such that, the current economic situation will not affect my business, right now the yam sets are less costly so I will buy more of them in few months to come they will be scarce and in high demand and that means I will make profit when I sell them during that time.
Jan 2, 2021
Cost to entrepreneur
Service fee: $1.47
Credit risk payment: $2.94