Feed and veterinary service for the growing chicks
Nelson
Accra, Ghana
100% repaid
Entrepreneur
Name
Nelson
Member since
May 2014
On-time repayments
171 installments • 25%
About Me
ABOUT MYSELF
My name is nelson Ahaikonu from the Volta Region of Ghana. I reside in Madina, a suburb of Accra the cpaital of Ghana and it has a convergent of all the tribes making it a beautiful atmosphere to enjoy the differences in the variouse ethnic groupings.The indigenes of The Greater Accra are called the The Ga's and they are predominantly Fishermen, they are very kind people and have a unique dance call Kpanlogo which is perculiear to tribe only. I have a degree in Banking and Finance from the Methodist University College. I am currently a poultry farmer and my hobbies include listening to news and surfing the internet for current trend in marketing and business strategic application from leading mentors (wealthy) for my business development and enjoy singing. My interest grew for this as a result of what I saw happen in the Military Barracks from my Dad, where every soldier was encourage to have his backyard farming and it was a beautiful sight to behold when you visit the farm. Feeling unfulfilled in my previous work propel me to actually start this couple with a business plan competition I partook in and place 5th was really a turning point in my life. The money from the operation goes into purchasing inputs like day old chicks, feed, medicines are just a few of what I buy to keep the business running smoothly.
My Business
ABOUT MY BUSINESS
Layer production for eggs is what I do as the demand for eggs is huge from the table top food vendor to the restaurant are all demanding eggs for various delicacies. During festive season I do few Broilers for meat. The company was initially started as a hobby. Considering the prospects of the business and industry as a whole, which was informed by the persistent and continuous growth in demand for poultry products, Ghana poultry imports have more than tripled in the past few years as Ghana's domestic poultry sector continues to decline and can only supply around 10 percent of poultry demand in the country. This has actually made the business enjoy fair advantage. The non-existence of competition in operating jurisdiction is an added strength to my operations. The major threat of business in this venture has to do with rapid increases in prices of its inputs especially feed and medication/vaccines. The possible outbreak of disease in the poultry house is another threat. Apart from my product being wholesome, flexible credit policy is also what keeps my customers to me, as I have daily, weekly and monthly policy. I seek to expand my production capacity and increase output by 60% next year and so it is imperative to keep the business on sound footing as well as my customer base hence the need for the Loan. My typical cost is based on the feed which $650 and other overhead cost $300 . Christmas is acually the period i make profit over and above 100%,It actually takes 6 months for the birds to start laying eggs so production must start ahead of time and so i have to buy Day old chicks , feed , and medication especially must be bought to start the production process.The profit from my business basically goes into reinvestment in growing the business and helping few friends who are in financial crises. I will be supporting my partially adopted daughter who still lives with father but have helped her complete her secondary education awaitint to further her educationto the tertiary level from my profit as i have a small savings for her in that direction.
Loan Proposal
Thank you very much for granting me my initiatial loan. it has greatly help me me go through buying of the chicks and going the through the brooding process till now.But i have a had some challenges in terms of depreciation of our cedis making it difficult to maintaning the farm. Prices keep changing every day.But because i produce wholes eggs customers are ready to buy my eggs that gives me joy in face of this challenges to continue with my passion
Now the the cedis has depreciated from gh2 to $1 to gh3.5 to $1.Feeding has almost triple. Feed and Veterinary services are the most essential elememt here so need money to buy more feeds to transfer the chicks from the brooder house to their permanent structure to continue production.
I wish to ask if my credit limit could be increase so i can get more money about $400 to go through the next face smoothly as i can not not fund the production process alone. I am however counting on your usual cooperation
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Loan Info
Project Type
Classic Loan
Disbursed amount
$131.00
Date disbursed
Oct 16, 2014
Repayment status
On Time
Projected term
3 months
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