Vegetable farming

Mhlangeni

Lusaka, Zambia

100% repaid

Entrepreneur

Name

Mhlangeni

Member since

March 2020

On-time repayments

16 installments  •  88%

About Me

My name is Mhlangeni and I am a farmer. I grow crops and sell them at the nearby farmers market to raise money to expand my business. My dream is to one day be a large scale commercial farmer who empowers the local community.

My Business

I grow vegetables on the farm like tomatoes and green beans. Once our harvest is ripe, we transport it to the market to sell with the goal of expanding our business to supply retail shops and supermarkets and this is why I intend on diversifying our crop variety to include crops that can be sold at scale.

Loan Proposal

We want to use the loan to expand our vegetable farming project so that we can ensure that we double our revenue. To do so we will need access to additional capital that will allow us to grow Okra on another portion of our farm so that local marketeers can purchase more of our product as we already have repeat customers.

Income Source

We have seen a lifting on the partial lock down which has seen an increase in local marketeers coming to purchase our product. We sell Okra which is relatively affordable as it goes for K5 on the local market which is approx $0.3 which sustain our population. Its affordability has helped increase sales as COVID-19 has caused economic difficulty on low income communities and this has seen larger volumes of it being sold. In addition, we are constantly getting repeat customers which has helped us see consistent revenue.

Feedback

None

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Loan Info

Project Type

Classic Loan

Disbursed amount

$24.00

Date disbursed

Jun 1, 2020

Repayment status

On Time

Projected term

4 weeks

Lenders

John Minges

United States

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Summary

Amount repaid

$24.53

Amount remaining

$0.00

Date repaid

Jun 21, 2020

Status

Fully repaid

Repayment History

Expected Payments Actual Payments
Jun 14, 2020 $6.13 Jun 10, 2020 $6.13
Jun 21, 2020 $6.13 Jun 10, 2020 $6.13
Jun 28, 2020 $6.13 Jun 10, 2020 $6.13
Jul 5, 2020 $6.13 Jun 10, 2020 $1.62
Jun 21, 2020 $4.51

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