Buy a 2nd hand motor bike for transportation

Mathew Ochilo

Nyapora, Kenya

100% repaid

Entrepreneur

Name

Mathew Ochilo

Member since

September 2014

On-time repayments

81 installments  •  52%

About Me

Mathew Omondi Ochilo is a Kenyan born in 1972 and married to one wife. I have three kids two girls and a boy. My wife is called Clere Mahero. and above all a born again christian. I went to school at Mumias primary DEB, Lubinu Boys high school and at a church college and graduated with certificate in church music and instrumentation.
I started business some times back but due to commitments decided to drop the business of second hand clothes and ventured into transportation. I hired a motorbike and now ferry customers and pay the owner about 3dollars a day and i keep the balance as my wages. I target to buy my own motorbike and be my own boss and be able to support my family.

My Business

I started with selling second hand clothes of which at times the bale bought would contain old clothes that were not attractive there by attracting less customers. I decided to hire a motor bike so i could increase my income by doing taxi. the motor bike taxi is well paying since am able to raise about 10dollars per day after i have paid the motor bike owner.
I now target to by my own so as to remain the boss of my business by my own.
With this earnings on monthly basis i can raise about 1000dollars which would be a big boost on my side. I want to thank you because with Zidisha i know I will manage.

Loan Proposal

Hi,
Due to bad condition that my current motor bike is in, I want to re- organize my self and put finances together and get a 2nd hand motorbike of about 705 dollars.
I have already saved about 529 dollars for the same.
Usually I ran two businesses which do support each other at times when one seams to be low.
In selling second hand clothes i get about 12dollars in a day on a good day. I have employed a young boy who helps at times with the selling.
Myself ferry passengers on a motorbike and earn a balance of about 6dollars after I have paid the owner of the motorbike about 4 dollars a day.
The amount I have requested will add up to what I have to help me get one of my own.
This will improve my income since I will be the sole boss of the motor bike and this will save the money that I have been paying to the Motor bike Owner.
The total amount collection will be about 10dollars a day which will total to about 310 dollars per month. When added to the 200 dollars from the sale of second hand clothes, will total to about 510 dollars. which for a start is not bad.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$99.84

Date disbursed

Nov 24, 2014

Repayment status

On Time

Projected term

6 weeks

Cost to entrepreneur

Lender interest: $99.84 at 7.88% annual rate over 1 month = $1.04

Service fee: $0.48

Lenders

investor

Candiac, Canada

Evan Lamos

Brussels, Belgium

M

Michi

Switzerland

E

enigmatic

United Kingdom

M

mmartin

United States

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