Buy a taxi to employ another driver and fund my studies

David

Nakuru Town Zakayos Estat, Kenya

17% repaid

Entrepreneur

Name

David

Member since

February 2013

On-time repayments

133 installments  •  17%

About Me

I am single, a Catholic Christian I attend Christ the King cathedral in Nakuru. I was born in Kisii County. I attended my primary school at Machruriati Primary school later on joined Tabaka High School. I later went to Hightech college of accountancy which is situated in Kisii Town. Currently I live in nakuru town racecourse approximately one and half kilometers from town (Nakuru). I work at Uhuru High School which is situated in Soilo location approximately 7 Km from Nakuru town. I am a school Bursar and I have been holding that position for the last 4 years. Where I have established harmonious working relationship with the school society and also the surrounding community. Apart from that I do operate a taxi business along Nakuru – Salgaa route . I have been able buy a plot of land in ngata 8kilometres from Nakuru town.

My Business

I have been operating a taxi business for the last two years along Nakuru - Salgaa route, my business has effective demand because of the high number of people travelling to salgaa and from salgaa to Nakuru town and the limited number of vehicles in the route. My customers prefer my services in favor of my competitors due the fair charges I charge, honesty and trustworthy services that I offer to my customers. Also I have been able to maintain a good number of customers who commute on daily basis along the route. Customers also prefer my curb because I keep time, level of cleanliness and the good condition of my vehicle. I have been able to purchase a plot of land in Ngata (8 kilometers form Nakuru town) and fund My part time studies from my taxi revenue. I would like to expand my Taxi business by acquiring another Taxi Curb due to meet my customers demand. But I have been facing financial problem due to the high intrest rates charged by the banks when acquiring a loan. I incur expenses such as:-
Maintenace cost 20,000.00
Fuel 2000 x 26 52,000.00 Labour 12,000.00
Car wash (150 per day) 3,900.00
Misc:
Drivers lunch 100per day 2,600.00
@ 26

My montly revenues are approximately 135,000.00 and a profit margin of approximately 30,000.00 per month. If I can get a new curb I will be able to cut my maintenance cost and increase my profit level.

Loan Proposal

i invested my first loan wisely, i repaired my car bought new tyres and made my customers happy with my services. my returns doubled over the Christmas season and in the month of January. i will use my second loan as an additional capital to buy a second hand car (imported from Dubai). the car will operate in Nakuru town. transport business is booming in Nakuru town since the devolution took place. there so many activities taking place and my customers have increased in a high rate.

Feedback

2

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Loan Info

Project Type

Classic Loan

Disbursed amount

$619.00

Date disbursed

Mar 11, 2014

Repayment status

Late

Projected term

28 months

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Ask David a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.

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  • Lawrence    Dec 31, 2014

    hi lenders
    david phone is going unasnwered so is thr community leader and amos the relative but will keep on trying

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  • Lawrence    Nov 24, 2014

    i have called david but his phone was off then i called his community leader amos and he told me he will follow up on him

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  • geobuk    Oct 21, 2014

    Hi David,

    John Keen has stopped making payments on his loan and has gone silent. He has not responded to messages or provided an update.

    Log in to reply • Share
  • Lawrence    Aug 16, 2014

    Hi?
    I have called David bosire today and he said he will update today his accounts..16th August 2014..

    Lets wait and see how true that will be.

    Regards,
    Vm,
    Lawrence

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  • Lawrence    Jul 24, 2014

    Hello zidisha fraternity? I talked with David and he told me his business was a bit down but now it's doing better actually he doesn't wish to reschedule downwards but upwards so I think he gonna do away his arrears.

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  • David    Apr 14, 2014

    Thank you for your loan extension, i have not been able to repay my loan on time, this is because the new Taxi i bought developed some mechanical problems and for the last three weeks i have parked it in a garage. i am working hard to fully repair it so that it can be back on business. i had inadequate funds to repair it since i had used all my savings in addition to the loan you extended but i promise by next week i will start paying immediately. Thank you for your financial assistance.

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  • cocokathy    Mar 6, 2014

    Hi David,
    I hope your loan goes well! It sounds like your business is doing very well and I look forward to hearing how it goes.

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  • David    Dec 20, 2013

    Dear lenders,
    I would like to thank the zidisha family for their continuous support, I used my first loan to buy tyres which have really enabled me to run my business very well and have been able to get enough returns, of late I have been transporting my clients up-country, the route and road network require a bigger size of tyres than the ones I have currently. During the transportation I also identified that the route has numerous customers who I would be serving after this festive season is over. The transportation has been fruitful and I will be able to pay my dues by the end of month. I will use my second loan which I will apply thereafter to buy new tyres and reams which will enable me serve my customers diligently and comfortably. I am very confident that by the end of next I would have purchased another taxi cab. Thank you for your continuous financial support.

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  • David    Nov 27, 2013

    The amount loaned to me has been very helpful; I managed to do the repairs that were badly needed. Replaced the tires and cleared that insurance premium installment, though my cab gave me a surprise in august am glad to say it’s running smoothly and am able to satisfy my customers and even attracted new ones. In Kenya the festive seasons are marked by families traveling upcountry to see their loved ones making it the most profitable season of the year because people will always desire to travel comfortably. I am already booked for the season starting Saturday this week. I’d like to thank Zidisha for your confidence and faith in us, God Bless.

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  • David    Nov 18, 2013

    I overcame the challenges that I was facing with my business and am now doing extremely good, I have been able to retain my customers who I had lost when my vehicle had mechanical problems. My customers are now increasing and I expect more especially during this long holiday and also the festive season. My revenues have now increased and I will be able to clear my dues very soon, Thanx to Zidisha.

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  • David    Oct 16, 2013

    dear lenders
    thank you so much my lenders for your patience. i was facing financial challenges as s result of the mechanical problems i was facing. i have been able to overcome them.
    best regards

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  • David    Aug 23, 2013

    I would like to reschedule this months: late last month my business (Taxi business). suffered a setback because my only taxi suffered a mechanical problem that resulted to loses in that month. i have been trying to recover from those loses. I spent almost all my profit to repair my taxi. now am getting back my customers who went for other options(taxis). in two weeks time my projections indicate that i will be able to pay the amount due. Thanks in advance for your understanding, God bless.

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  • David    Mar 16, 2013

    I'm so grateful to the zidisha team especially my lenders for funding my project, also Nakuru town mentor i.e Sammy Njuguna and other communication officers. I will use the loan efficiently to attain my objective. Best wishes to Zidisha community.

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  • David    Mar 5, 2013

    Am so happy to Zidisha team for the loan process which was fast and I will effectively and efficiently use my first loan from Zidisha to improve and expand my business.

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