Entrepreneur
Name
Eunice Frimpong
Member since
July 2015
On-time repayments
213 installments • 64%
About Me
I was born by Ghanaian parents, Albert Barnes and Comfort Barnes in the year 1980. Both parents had basic level of education but manage to sponsor all six siblings to tertiary level of education. We are six siblings, three ladies and three gentlemen.
My family have a long history of farming, which dates back to my grand parents and as such farming has become my hobby.
I was introduce to mushroom farming about two years ago by nutritional values in mushroom.
My Business
From the Ghana Permaculture Institute I purchase bagged mushroom compost ready for production. To create the conducive environment for the mushroom to grow well, I keep them moist and cool by watering them twice a day.
The production of the mushroom increase by 70% with my third loan. Thanks to Zidisha. Currently, I have three thousand old stock and nine hundred new stock of bagged mushroom compost. And I produce not less than $80.00 of mushroom three to four times a week. They last for three months after which there is need to go for another stock.
The edible Mushroom I produce is highly nutritious with a lot amino acids and easily digestible proteins. They are good for the immune system and for growing kids.
Loan Proposal
Given the loan I will be able to expand and replace the old stock. I can purchase more mushroom compost and the turnover will be very high. Each bag of mushroom compost, is about $0.50. After maturity each bag can fetch about $1.50. With the loan, I can purchase 1,800 bags ($930.00) of compost mushroom and I will be able to make $2,800.00 in a short time including production and marketing cost.
My profit margin will drastically increase and I will be able to take care of the family and continue my business.
Feedback
Positive
6
Neutral
None
Negative
None
Loan Info
Project Type
Classic Loan
Disbursed amount
$934.01
Date disbursed
Jan 24, 2017
Repayment status
Late
Projected term
33 months
Cost to entrepreneur
Service fee: $24.69
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