Oyster-mushroom farming

Emmanuel Amoah

Sampa, Ghana

100% repaid

Entrepreneur

Name

Emmanuel Amoah

Member since

March 2021

On-time repayments

18 installments  •  17%

About Me

I am Emmanuel a teacher at Sampa in the Bono Region of Ghana. I have an ambition to establish a farm of which I can cultivate maize, cowpea and cassava and also cultivate mushrooms which have ready market but are sold at high prices I believe I can earn much money from the mushroom business. I have 5 dependants to take care of. I have been able to pay their rent and mine together with money for their upkeep. Also I have been able to sponsor my Junior brother in his music career at the University of Cape Coast from level 100 to level 300. I have been struggling with these for more than half a decade now with the little I earn from my teaching job after my father passed on . To help survive and maintain the family. I have decided to go into farming. I have been able to secure a piece of land where I have commenced cultivating my crops but I wish to start a mushroom farm.

My Business

I am a teacher by profession. I earn between GHS800 and GHS 1100 every month. The burden of the my family is an impediment to me getting married and starting a good family on my own. I have started this year maize and cassava cultivation. I believe I can do well with mushroom farming and this is what I want to do now in addition to my crop farm

Loan Proposal

Although, the amount given is smaller than my expectation. I will start with the purchase of few compost bugs which contain the mushroom spawn.

Income Source

I will have to be prudent with the current state of the economy. I will reserve 35% of the fund given and use the remaining 65% for the purchases of the compost bugs. I believe this will give me a breathing space in case of any mishaps. If I succeed with the 65% ,I will inject the 35% into the business so that I can have a full realization of what I will be earning if I should use all the funds given.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$20.32

Date disbursed

May 7, 2021

Repayment status

On Time

Projected term

4 weeks

Cost to entrepreneur

Service fee: $0.63

Credit risk payment: $2.91

Lenders

EH

Ed Hendrickson

Ames, Iowa, United States

Ukulele Cheri

Idaho, United States

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