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.
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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
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