Freezing and automatic weighing equipment for fish business
Jacinta
Nairobi, Kenya
100% repaid
Entrepreneur
Name
Jacinta
Member since
September 2015
On-time repayments
183 installments • 25%
About Me
My name is Jacinta Lango. I am 50 years old and I am a mother of five. I lost my job several years back which forced me to look for an alternative way to support my family. Through my children's encouragement l was able to keep my head high and went back to my village, there I was able to find a way to come up with my own business, and since the people there are always ready to help one of their own get the necessary networks they need to stand on their own two feet, I have managed to provide basic needs for my children. My prayer is that I eventually have the business grow at a larger scale so that I may help them achieve their dreams of becoming people who will make a difference in society.
My Business
My business deals with small scale supply and distribution of fish and fingerlings to small restaurants, among other food stuffs. Fish being white meat and having many recommended nutrients is always in high demand. I chose this business because it works to my favor since I grew up near Lake Victoria. This enabled me to use the already existing networks I had there and put them into use for my business. My typical costs include the payments for the transport, gutting and the actual buying of the fish. The total amount was about 10, 000 shillings but now has increased to 15000ksh. After that I package, weigh and deliver them at a profit and make about 20,500 in return. I was able to increase my stock because of the freezer and increased my profits after getting a large order for exporting omena thanks to the automatic weighing machine i procured as well with time, combining the first loan and my personal efforts as well. It was challenging but I eventually managed to do so.
I managed to find a cheaper fisherman to supply me so that I would increase my revenue and I have worked on a home fish gutting process with my children to help me reduce expenses. This way I will be able to gradually increase the size of my business and never be late for my children's tuition payments.
Loan Proposal
If granted the loan the freezer I will buy at approximately 100$, will enable me to diversify in the kind of fish I will include in my business, the automatic weighing machine costing about 42$ will mean that I will stop renting one from the local hardware and reduce my costs while making the whole process more efficient. All this will enable me to eventually expand the size of my business and manage to support my family with difficulty. My profits will increase with a projection of about 37%
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Loan Info
Project Type
Classic Loan
Disbursed amount
$150.00
Date disbursed
Oct 12, 2015
Repayment status
On Time
Projected term
9 months
Other loans
Lenders
United States
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