Loan to purchase tilapia fish for sale

Millicent

Waregi Village, Rusinga Island, Kenya

100% repaid

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How it Works

Entrepreneur

Name

Millicent

Member since

February 2015

On-time repayments

18 installments • 33%

About Me

I am Millicent Aoko Ochieng. I was born in 1988 in the rural village of Gwassi in Homa Bay County. I was the last born in a family of seven. My father is a retired civil servant. My mother is a peasant farmer. I grew up in a disciplined family but could not continue with my formal education due to peer pressure. I got married when I was 6 years old and had to contend with a very hard life since my husband did not have a steady income. After marriage giving birth to four children, life became unbearable, I have struggled with life and especially upbringing of our 6 children. This hardship made me to start business and that is how i started a small scale selling of fish to the urbanites in Mbita Fish Market. In my village of Waregi clan, extra-marital affairs is common and many business women are being induced to outside marriage sex and this expose them to HIV infections. I refused to be involved in such affairs and opted to do business in order to feed my family and take my children to school.

My children are quite intelligent and they want to be doctors and teachers when they grow up.

My Business

I am trading on the fried fish. I do buy the fish (Tilapia) from fishermen in the morning and fry them using cooking fat. I sell the fried fish (Tilapia) to clients in Mbita market.

Mbita is a fish-landing region. Sale of little fish attracts clients from other towns to Mbita and this is how my business is surviving. I deal in fish selling and stocking though I operate with a very low capital of Ksh 3,000 only and make a profit of Ksh 200 daily. I intend to get a loan of KES 5,700 and buy more fish for re-sale. With the new business capital, I will be able to double my profit and get KES 400 per day. The increased profit/income will enable me to pay school fee for my 1st born who is a pre-candidate for primary final examinations due next year.

Loan Proposal

With a loan of Ksh 1,500, I will be able to buy 100Kgs of small fish (Tilapia). These fish I will sell and get a daily profit of Ksh 500. With the loan, my business profit will increase by 40%. The increased income will enable me to pay loan, rent and school fee for my 3 children in secondary schools and buy food for my family.