Loan to expand my poultry and vegetable farm

Micheal

Bimbago, Ghana

1% repaid

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How it Works

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

With a loan of 534 GHS, i will spend 270 GHS to buy 100 day old chicks (layers ) layers for my farm. I will also use 120 GHS to buy amprocox, a coccidiostat and other medical supplies for my farm and I will also buy feed word 130 GHS for my birds whiles the rest will cater for other emerging cost with time.
I anticipate a profit of 300 GHS and as an entrepreneur, my focus is to grow my business so i will reinvest 175 GHS to buy 50 more birds and 100 GHS to lease more land for my vegetable farm. the remaining profit will go a long way to keep my family in a lot of ways