Entrepreneur
Name
Micheal
Member since
October 2016
On-time repayments
114 installments • 6%
About Me
My name is Michael Fuonin, a native of bimbago in the northern region. I am the first of seven children an am currently studying HND agricutural engineering in Bolga Polytechnic. Currently am working with Sebteck communications, a recharge card dealer in Bolga. i use my monthly salary of 100 cedis to finance my vegetable farming and poultry farm from which i support myself and my siblings through school and daily responsibilities.
My Business
I own and manage a vegetable and a poulrty farm of about 200 birds. i use the droppings and litter from the birds to fertilize my vegetable farm in order to reduce cost of buying fertilizer. on daily basis am able to collect 7-10 crates of eggs which i sell out to purchase feed as well as other equipment to support my business and my family. due to the expensive nature of meat, most people have resorted to buying eggs in order to supplement the daily protein requirement.
my level of expertise in agriculture necessitated my choice of business so that i can apply my knowlege to help myself and my family.
i also produce and sell carrot and pepper through irrigation for sale.
I use some of the income to buy insecticides, fungicides and pesticides and also use some to pay for hired labour both the vegetable and poultry farm respectively.
i also save my pprofits, reinvest some in my business and also use some to pay my school fees and that of my siblings.
Loan Proposal
I need a loan of 1500 cedis to help me renovate my housing unit an anticipated cost of 450 cedis and also to buy more feeding and watering troughs which will cost 220 cedis. i also have to increase the dietary requirement of my birds by purchasing more protein diets which will cost 340 cedis. i will aso purchase more lands to increase the acreage of my vegetable farm with 200 cedis and i will use the rest to pay for labour and other expenses that may arise with time.
i envisage a profit of about 780 cedis if all things remain equal especially with my birds as it is approaching christmas where the demand for broilers increase.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$4.00
Date disbursed
Oct 7, 2016
Repayment status
On Time
Projected term
6 weeks
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