Purchase of baby snails for breeding

Chioma Ihebereme

Owerri, Nigeria

100% repaid

Entrepreneur

Name

Chioma Ihebereme

Location

Owerri, Nigeria

On-time repayments

61 weekly installments  •  93%

About Me

My name is Dr (Mrs) Chioma Ihebereme. I am a Lecturer by profession but have snail farm business. The snail farm business started out of my initiative and flare for livestock business. I started my snail farm in a cage well prepared for snail habitation. At first, i sell the mature snails to my colleagues and make supply to individual homes on demand. When i saw that there was high demand for my snails, i
quickly expanded my snail farm using a farm space in my compound. As the snails mature ,i deemed it necssary to negotiate with hotels and fast food outfits for a contract to be supplying snails to them. Fortunately, my proposal was granted and i started supplying snails to hotels and fast good ooutfit. I equally supply snails to traders that sell snail in the market. I also do home delivery to individuals. Of a truth, i realize sufficient money from snail sales. Subsequently, i use the money i got from my snail sales to pay school fees for my children, settle other educational needs for my children and operate educaton fund account for my children. As my snail farm business grows and progresses, i partitioned my snail and employ few workers to assist me. In this direction, their salary will be included in the expenses from the snail sales. Expenses are equally made when training workshop are organized for the recruited workers. Snail farm business is challenging but rewarding if utmost dedication is ascribed to it's service delivery. I sincerely enjoy the snail business because there is high demand for it's consumption hence sales are quickly made and profit realized.

My Business

My business is Snail farm. It is very lucrative but money is heavily involved for it's maintenance.. My income source for my snail farm business is mainly from my salary as a Lecturer by profession. Then, the other source is from loan. I channel sixty percent of my salary to my snail farm business business. My snail farm business has given me opportunities to be invited to deliver lectures in conferences , workshops and seminars natiowide, on how to start and sustain snail farm business. I passionately love my snail farm business because it has given me positive exposure and my snail sale revenue has greatly assisted in my family upkeep.

Loan Proposal

I will use the loan to purchase enough baby snails from bush market and breed them in my snail farm. The reason for purchasing a large number of snails is to produce a large number of matured snails for sell given the fact that, i have many customers. Again, in case, there are death occurrence among the baby snails during their breeding stage, the loss will not greatly affect the number of matured snails realized for sales.

The money will equally be used to purchase snail feed. This is because during the breeding stage of baby snails. There is need to feed the snails well so that they will attain maturity at the expected two and half weeks.

Income Source

I am convinced that i will be able to earn the money to repay my loan in the coming week and subsequent weeks for the period of my loan repayment because my snail farm business is categoried under livestock and snails are edible. Many people in the face of economic climate prefer edible in order to conquer hunger.

My customers patronize me daily and my supply of snails are satisfactory to them. They sincerely pay for the snails they bought. Hospitals, Schools, Caterers, Hotels, Traders, Families and lndividuals patronize me. I also prepare and sell assorted snail dishes and i realize money from each dish sold.

My Videos

Jan 19, 2021: Chioma ihebereme's snail farm business

Feedback

1

None

None



Loading...

Loan Info

Project Type

Classic Loan

Disbursed amount

$762.79

Date disbursed

Jan 29, 2021

Repayment status

On Time

Projected term

3 months

Cost to entrepreneur

Service fee: 5% of $762.79 = $37.03

Credit risk payment: $148.11

Optional expediting fee: $74.06

Lenders

joerg

Berlin, Germany

Elinor

Maple Lake, MN, United States

S

soren

Göteborg, Sweden

AF

a f

washington, United States

JimVandegriff

Trinidad, California, United States

H

hilde

seattle, United States

ads68

Melbourne, Australia

numbat

Perth, Australia

F

Forfex

Zurich, Switzerland

Anna Hoad

Toronto, Canada

Isabella

UK, United Kingdom

Ren

Minneapolis/StPaul, United States

Emily

San Francisco, United States

JH

Joseph Hwang

Houston, United States

JG

Jake Gibson and Beverly Picardo

San Francisco, United States

DO

Denis Ontiveros

Guildford, United Kingdom

Joshi

United States

RS

Ralph Smyth

United Kingdom

GF

Gammon Family

United States

M

Melissa

United States

R

Ru

New York, United States

W

Weston

United States

M

Mirko

Yugoslavia

K

Kuba

Poland

Olly Ishmael

Aberystwyth, United Kingdom

Ask Chioma a question about this loan project, share news and photos of your own, or send a simple note of thanks or inspiration.

Loading...

Loading...

Loading...