Building new boat for fishing business

Melda

Uhanya Beach Bondo, Kenya

100% repaid

Follow Melda

How it Works

Entrepreneur

Name

Melda

Member since

March 2014

On-time repayments

131 installments • 18%

About Me

I am a Kenyan female born in 1974 at Dol village, Kodera Sub Location, Oyugis ward, Rachuonyo Constituency, Homa Bay County. I went to Ogandi Girls High school, thereafter; I started fish trading business, am dealing specifically in small fish (Omena) I have been in this business for the last twenty one years. Am married with three children both in school. I live in Uhanya beach with my family as this is where I do my business. This is a beach situated on the Western region of Kisumu and borders Uganda. It is within Lake Victoria shores and the main economic activity is fishing and fish trading.

My Business

As I stated above I joined business immediately after my high school. Currently I have four boats specifically for Omena. One complete fishing vessel requires a five seater boat, fishing gear 500metres, 5 anchors lights and 15horsepower outboard machine this costs around $3,015. I own four of these vessels which translate to $12,060. On an average I get income of $116, and then I pay some expenses as labor, kerosene for lighting the anchors and beach revenue $70 thereby getting a net profit of $46
I use the money in maintaining the business as the fishing gear and boat needs repair often, paying school fee and family upkeep.
We experience many challenges as the fishing gears needs frequent upgrading; the anchors sometimes are taken away by strong wind so requires immediate replacement.

Loan Proposal

First, may i thank you for the support yo gave me. I want to build a new fishing vessel (boat) as one of my boats is worn out. the new boat will increase my daily catch as well as enhancing the safety of my fishermen who will able to go into deep waters where large amount of fish is found. I had purchased some materials for the same and your support will boost me a lot in accomplishing this project. The total cost for a new boat is $ 1046. With a new boat and fishing gears which i bought using the previous loan my income will increase tremendously.