Replacing fishing nets and repairing my boat

Entrepreneur

About Me

I am Antony Omore Odero, I was born in 1978 at Osieko Village in Budalangi Constituency of Siaya county in the republic of Kenya. I did my primary education in mid 90,s thereafter engaged in fishing business. I am married with three children and all going to school. M y home village borders Uganda and the main economic activity is fishing among Lake Victoria. Currently i live in an Island in Lake Victoria approximately 150km from Kisumu.I have been living in this island ever since I was a child as i also went to school in the same place. Here we commute to the mainland using our boats or through transport system by Mv Ringiti. A modern ferry plying this route on daily basis.

My Business

I joined fishing industry as a young person immediately after my primary education, I was working hard because I knew my future life depended on fishing as I did have good education back ground. After working for seven years for different people I used my savings to purchase my own fishing boat and fishing gears. I started with one boat but currently I own two boats both fully operational. One boat fully operational costs $ 1218. I deal with catching Nile perch and it also has some challenges.
The major challenges include bad weather, pirates, inadequate finances and frequent weary of fishing gears. These boats require repairs to make good for fishing and it is often costly. I want buy new fishing nets which will cost $ 470 for a single boat because I cannot replace the nets at once for both boats. This is where I need Zidisha to support me.
In average I earn weekly income of $105, and then I pay workers and other expenses with $72.5. I then remain with $32.5; I use part of this to pay for my children school fee and family upkeep.

Loan Proposal

The main business in this Island is fishing, as a young fisherman I am faced with financial constraints to meet my goals. I want to replace some the worn out fishing nets, and repair one boat for safety of my fishermen. Due to lack of finances I will only replace half of the nets for one boat. Once I replaced the fishing nets the catch will increase and my income will also increase. Nile perch is fetching good return but since we live in an island I am advantaged because my fishermen can go to the deep waters to catch big species, which in turns brings more money. This is why I need new fishing nets and a boat which is in good condition. The whole budget (new nets and boat repair will cost approximately $ 368).

Feedback

Loan Info

Lenders