Loan for fish farm

Entrepreneur

About Me

My name is Frederick Seth Essel and I am from Nsuta in the Ashanti region. My mother was uneducated but she was very interested in her children education so much that she single handed took care of my education to the Senior High School. I have to sell foodstuffs and smoke fish.I setup a business for myself and my siblings who are still in school. I heard of fish farming business when an NGO was conducting training on fish farming which I attended to get first hand insight on the business.
I started the fish farm with income save from works I have been done from weeding on peoples farm for a fee to working as a laborer at construction sites. Demand for fish especially catfish is high in demand in my area because it is a major source of protein for the main ethnic group so demand is always on the higher side. I am motivated to do the farm because of the high profitability of the business especially when I saw retied Accountant in my community doing catfish farm on a large scale with incentives for the youth who wanted to enter the business such as pond for rent and feed on credit for starters. All that I am doing is to be able to support my two sisters education to be able to achieved their dream of becoming nurses.

My Business

I provide catfish for the major marker sellers, small scale cold store and local restaurant operators. There is huge population at my district with high demand for catfish because per their culture it is their delicacy. I chose this business because it is highly profitable when it is done properly with the farmer having knowledge about the business. The total cost of operation is around GHS 1,000 for every six months covering fish feed, cost of rented pond, fingerlings, and water, with profit of GHS 2,000. I used the returns to help my family.

Loan Proposal

I need the loan to buy fish feed costing $ 18. This will help me to increase my profit to about a sum of $200 after six month of operation. I will used this returns from this business to pay my rent and refresher course on fish farming. Also I will use the profit to buy fingerlings which will cost me not less than $9. This fingerlings will help me a lot because it increase my production since the type I will be purchasing are genetically superior ones.

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