Purchasing a cooler for my fish produce business

George

Nairobi City, Kenya

36% repaid

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How it Works

Entrepreneur

Name

George

Member since

May 2014

On-time repayments

100 installments • 40%

About Me

I am a 28 year old born in the village of Kamser seka sub location,Rambira location,Rachuonyo north district. Homa bay county. I am a second born in a family of seven. I have studied up to a diploma level. The reason unto why I started this business was that my parents are poor and could not sustain the whole family in terms of education and even basic need like food. We live in an area where finding a meal for the day is a forgone case we only take meals once in a day. Joblessness among youths in our country has also led to this since there is a growing population and the job opportunities are few. I therefore came up with this idea of starting a business which is growing at a faster rate due to the fact that it is a consumable product.The money i get from the produce I use to feed our family and again help the community members who are in dare need. I like playing football and read newspapers especially the articles talking about entrepreneurship

My Business

I have an ongoing business business of selling fresh fish in Kayole estate.I expanded my business through the loan that I received from you that has really changed the entire business in terms of profit and growth. It has also enabled me to get at least a secured room to sell my fish by the name Migingo fish base. Due to increased growth in my sales, I need to have a cooler that will preserve my products since they are perishable products. My income has increased and more customers has now depended on me due to the fact that my sales are reliable and consistent. I therefore reapply for another loan to continue boosting me to realize my dream of helping the entire community and my personal life as well.I intend to back this loan with money made from the sales of fish sold.My customers prefer my fish because they are fresh and affordable to all customers compared to my competitors.My business is profitable because we have many customers.My business faces the risk of poor storage due to lack of proper storage facilities therefore I reapply to get enough fund to sustain the business and as well purchase a cooler to help me overcome the task of poor storage. .My Monthly cost has increased to a round USD500 and my monthly income is around USD800 due to more purchase I was able to make through the loan I received previously.

Loan Proposal

I intend to purchase a cooler to help my produce stay fresh for longer hours since this was the major challenge I was facing in my business and part of it to sustain the business. I would like to purchase two coolers one that uses ice when the power goes off and the other that uses electricity. Freezer that uses electricity goes at a cost of $168 and the second cooler that uses ice, I will purchase a second hand from a friend a cost of $78 and the purchase of ice which will sustain the preservation at a cost of $5 the remaining $195 I will use to sustain my stock to ensure my customer enough supply. Through this I will be able to generate much income because the problem of storage will be catered for. The income will grow by 20%.