Buy a three-wheeled taxi

Jeseeirungu Irungu

Freehold - Nakuru, Kenya

100% repaid

Entrepreneur

Name

Jeseeirungu Irungu

Member since

April 2014

On-time repayments

50 installments  •  32%

About Me

I am a born again Christian, I attend winners chapel in Nakuru situated at the KFA roundabout. I was born in Karinga Village, Kinyona sublocation, Kinyona Location, Kigumo Division, Maragwa District in Murang’a County I later on joined Karinga primary school situated in Kinyona Location and took my secondary education at Gichagi-ini Secondary in Thika District and joined Kenya school of engineering situated in Gil Gil Division Naivasha District where I took a mechanic course. I started this business 4 years to sustain myself.

My Business

I run a boda boda business in Nakuru town, which I started 4 years ago with one motorbike. I used to carry my customers to the respective job places and young pupils to and fro school to their respective homes. In this routine I discovered that my customers required this business to be provided to them on daily basis. I used keep time and adhere to all safety driving measures that made them feel safe. This made them get attracted so much to my services. In time they requested me to offer them services and pay on weekly basis. This made my business grow big and get high returns. Later on I bought three more motorbikes to meet my customers demand, these motorbikes have offered the services they require unfortunately I am not yet fully satisfied with what I am giving my customers especially to the young pupils since most mornings have cold weather I wish to get a cheaper source of funds which I will use as an additional capital to buy a Tuk Tuk which I believe will offer the services I require and continue charging the same price, this will ensure I retain my customers. my profit Per week is USD 46 after deducting all the expenses.

Loan Proposal

I would like to thank the Zidisha team for allowing me post my first loan. I will use my first loan plus my savings to acquire another Motorbike at USD 906 this will enable me satisfy my customers who are ever increasing. The motorbike will come in handy since we are in the verge of reopening schools. It will help me ensure timely transport for my clients to their respective destinations and will also increase my returns per week, i.e from USD 45 to USD 57. This will get me nearer to my goal of acquiring a three wheeler (Tuk tuk).

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Loan Info

Project Type

Classic Loan

Disbursed amount

$69.39

Date disbursed

May 9, 2014

Repayment status

On Time

Projected term

3 months

Cost to entrepreneur

Lender interest: $69.39 at 1.52% annual rate over 3 months = $0.32

Service fee: $0.76

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