222 installments • 31%
I am Paul Kimani, aged 28 years married with two children. I was born in a small village Muranga County. I am the first born n a family of three children. - all males. I went to Mutunguru primary school and finished my exam in the year 2003. I stayed home for one year before I came to Mombasa with a friend whom I stayed with.
I got bored staying home idle so I decided to look for a job to keep myself busy. I joined a steel making company where I worked for a while. The salary was low and I decided to look for another company. I joined EPZ company for making clothes for export but the salary was equally small. I started saving so I can open my own business.
I saved for two years and I asked my friend for advice as to what type of business I could start with the money I had. I got many ideas and I took one idea of opening a motor cycle spare parts.
I had no experience in this area and I worked very hard to keep the business going.
I deal with sale of motor cycle spare parts. Motor cycle transport is very popular in this area and there are very many motor cycles and I saw that opportunity and decided to try my hand in it. Most of my customers are local riders who use their motor cycles as taxis to ferry people in town.
With time, I have created a wide customer base and most of them are repeat customers. I normally buy the spare parts from Nairobi where they are a bit cheaper. In a good month I make a net profit of about $ 230. This can change slightly when the business is low. I use the profit that I make from this business to support my family and my parents back home.
If given this money I will use it to increase my stock of spare parts.
If given this loan I will spend the money as follows
12 tire tubes at a total cost of $45
6 motorcycle tires at a total cost of $50
These are fast moving spare parts and I hope to make a profit of about 30% from the sales. Kindly fund this loan.
Jan 13, 2015
Cost to entrepreneur
Lender interest: $100.16 at 8.07% annual rate over 4 months = $3.22
Service fee: $1.48