Entrepreneur
Name
Chris
Member since
April 2014
On-time repayments
77 installments • 21%
About Me
I am Chris Obilo Born 10th October, 1984. I did my primary Education between 1992 to 2001. I then went to High School in the year 2002-2003. This was due to School fee problems which I was facing . I then decided to help my mother on her business starting from the year April 2003 and I did that for a year and then join the Juakali workshop on Motor Vehicle Mechanic sector, which I did for two years but I did not finish the course again due to financial problems. I am married to Millicent Awino and we have been blessed with two children both going to school.
My Business
As I had stated above, after being in the family business for two years I decided to start my own business in the year 2009 and that is Fish Trading . Misori Village is a lakeside region situated on the western side of Bondo Town. It is 32km from Bondo, and the main economic activity is Fish business. I buy fresh fish from the fishermen then supply to outside market. My customers include learning institutions as Jaramogi Oginga Odinga University, Kisumu Medical Training Institute. Here the demand is high and the competition for the product is also stiff. Sometimes I am unable to get enough fish because of inadequate capital and the fishermen may prefer cash. With financial support from Zidisha I will be able to get more fish thus meeting my customers demand.
The business has been sustaining me and my family in payi.ng school fee and meeting other family obligations as well. My weekly sales average $85, I spend $36 on expenses and another $ 10 on preservation, this leaves me with a weekly net profit of $39. With improved capital I will increase my supply, hence increasing my income, I will use the surplus from the business to service the loan and make some savings for my family.
Loan Proposal
120km west of Kisumu lies a small beach called Nyenye. The main economic activity here is fishing and fish trading. I am a fish trader, I buy fish from the fishermen then supply outside the locality, since I cannot get enough fish from a single fisherman, I move around the lake shores collecting the fish from the fishermen. I use a bicycle to commute to the shores; this process takes around five hours. I then repack the fish (currently I use a woven basket) put ice to preserve the fish while transporting to the market.
The woven basket has got many challenges viz:-
• Theft- someone can easily pull fish between the woven spaces,
• Wastage of ice through melting thus pouring down this may lead to fish getting rotten by the time I reach the market especially during hot weather, thereby giving me losses.
I want to purchase a plastic storage container with a locked lid; it is built like a cooler, and can store up-to 200kg of fish.
Benefits of the Container
• This container will help me to supply my customers with fresh fish;
• I will also expand my collection points since I won’t be worried of the fish getting rotten.
• I will save money on the ice as melting will be slower,
• It will help me stop thieves from stealing my fish, as it won’t be easy to break the lock of the container.
• I will be able to negotiate for better prices especially when the business is low because my fish will remain fresh.
Cost.
The container cost $ 125, and I will use another $20 to fix metal grills around the container to make it more stable.
Conclusion
A thousand miles begins with one step, I believe that with this step, I will be able to achieve my goals; I will increase my revenue by maximizing profits being stable and reliable in supplying my customers and expanding my supply chain. With the improved income repaying the loan will be easier and am looking forward working with Zidisha for better life.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$150.00
Date disbursed
May 19, 2014
Repayment status
Late
Projected term
17 months
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