Nylon bags

Tobenna Asomugha

Port Harcourt, Nigeria

100% repaid

Entrepreneur

Name

Tobenna Asomugha

Location

Port Harcourt, Nigeria

On-time repayments

91 weekly installments  •  84%

About Me

I grew up in Nnewi, Anambra state where I had my primary and secondary educations before going to study accounting at the University of Uyo.
I worked for Ibeto Cement and Eastern Bulkcem, Port Harcourt. The harsh economic situation in Nigeria made the company shut down. So stopping work abruptly, as difficult as it was made me rally funds to star toilet tissue production.
I'm currently a fish farmer.
People of Rivers state are very hospitable people to live with. Having a diverse culture and native language make them live together despite their differences.
My son will eventually grow up to become the chief executive officer of the establishment.
I like reading motivational journals, books and plays table tennis.

My Business

I am into fish farming. We grow fingerlings to table size catfish. And sell them as live or processed fish.
It costs about N1,000,000 to grow 700 fingerlings to table size catfish. Profits depend largely on how healthy and well fed the fishes are.
The profits are basically reinvested in stabilizing and growing the business. Little is used for home upkeeps.

Loan Proposal

The loan will be used to purchase nylon bags used in bagging finished toilet tissues. The cost of each pack (100 pcs per pack) is $6.93.
It will help in bagging more products.
Profit will increase to N50 per week.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$32.61

Date disbursed

Dec 20, 2018

Repayment status

On Time

Projected term

3 weeks

Cost to entrepreneur

Service fee: $1.40

Credit risk payment: $5.32

Optional expediting fee: $2.80

Lenders

Paul Buchheit

Mountain View, United States

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