New fishing net to enable deep-water fishing
Melda
Uhanya Beach Bondo, Kenya
100% repaid
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
Once again thanx for activating my profile, just as I stated in my profile, this fish business is doing well in this place Uhanya, but there are challenges too. I will purchase 300metres of fishing gear which will cost $140. I will replace the worn out parts in my fishing gears this will enable my fishermen go to deep waters where they can catch good quality fish and in plenty. I target weekly sales of $150 which is an increase of 30% from my revenues. I will save part of this money so that I can build another boat to expand my business. I will use my experience and good service in this business to attract many customers to help me achieve my goals.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$150.00
Date disbursed
Jul 1, 2014
Repayment status
On Time
Projected term
6 months
Other loans
Lenders
Guildford, United Kingdom
Republic of Korea
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