Theresa lives with her husband and children in a community called Nkwaateng. Nkwaateng is in the Eastern Region of Ghana. A sizeable number of the inhabitants are engaged in farming activities. However, quite an appreciable number are also involved in trading and other business activities. Theresa is in the business of palm oil production. She has been in business for eleven good years and is full of rich experiences.
She buys the palm nuts from the local farmers in her community; processes them in her house to produce the oil and sells at wholesale prices to her customers. Palm oil is a local vegetable oil produced from the food of the palm fruits which has been cooked, pounded, sieved and boiled for hours. The reddish substance (thus the oil) is skimmed off and reboiled to expel water content.
Theresa desires to use the loan to expand her business by buying the palm fruits in bulk to be able to supply to more customers. She believes the loan assistance would enable her to scale up production to serve a larger market and eventually, help improve her family finances. She is a member of a Trust Bank group called Temple Trust Group. Members of this group guarantee for one another as social collateral to access the loan and support themselves in handling the repayment of the loan.
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