A loan to refurbish my taxi

James Kanyi

Mombasa, Kenya

100% repaid

Entrepreneur

Name

James Kanyi

Member since

November 2014

On-time repayments

125 installments  •  34%

About Me

My name is James Kanyi, I was born in Nyeri county around Mount Kenya region. I come from a family of eight and I am the second born. My parents are small scale farmers and they struggled a lot to raise the family. I endured acute hardships while growing up but somehow made it to adulthood with modest education which I acquired in both primary and secondary schools.

I later relocated to Mombasa city, about 400 miles from home to look for greener pastures. I started doing casual jobs and with serious savings, I acquired a motorbike that I used as a taxi. I have been in this business for about 10 years now. I support my family of one wife and two children with the money I make from this business.

I am a social person and I like making new friends wherever I go.

My Business

I am in taxi business I normally transport people and light goods from town to their estates. I charge a fee of between $2 to $7 per trip depending on the distance. I make about $250 per month and I use this money for my family’s (one wife and 2 young children) upkeep.

The business is quite rewarding but with some challenges key among them lack of finances to maintain the bike.
I also experience harassment from the police who accuse bike riders from many types of traffic offenses.

Loan Proposal

If given this money, I am going to use it to do bodywork for my tuk tuk (three wheeler) which is long overdue. By coincidence, this will cost me about $100 which is the amount that I have applied for.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$99.84

Date disbursed

Nov 17, 2014

Repayment status

On Time

Projected term

9 months

Cost to entrepreneur

Lender interest: $99.84 at 4.42% annual rate over 9 months = $3.47

Service fee: $2.87

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