Buy a motobike to increase sorce of income

Eliakimu

Eldoret, Kenya

9% repaid

Follow Eliakimu

How it Works

Entrepreneur

Name

Eliakimu

Member since

February 2016

On-time repayments

39 installments • 49%

About Me

My names are Eliakimu oibilla am married with three children late in the year 1995 i inherited my fathers car this was a Toyota corolla dx, I started offering taxi services in town and when the car started giving me problems i sold and bought another one this is the one in the picture, This car had a engine problem and after some years the engine knocked and i was out of business i then started selling fruits in town and a times could be hired buy friend to drive their taxi from this point i saved enough money to buy a new engine and my car was back in service.
I pay school fee for my children with the money i raise from the T-axi town services.
My hobbies are driving and socializing with customers and friends.

My Business

I offer Taxi transport services in town on a good day i make 3000 Kenya shillings my income is not constant as sum times i make 200 Kenya shillings or even no money at all, when i do my monthly average income i make 25000 Kenya shillings a month and the car takes 10000 Kenya shillings on servicing and repairs.
The remaining amount i use to support my children school fees and family upkeep.

Loan Proposal

My dear lenders being in the transport industry for a while now i realised that a motobike brings enough money that can help in times of need in comparison to a Taxi car one can luck a job for several days but with a motobike its in operation full time because of the population and short distance that it covers.
I have a idea to buy a motorbike with the loan of 225 us dollars am going to make it 450 us dollars and pay deposit for the motorbike.
Motorbike total cost 1,100 us dollars payment in installments 1st payment 450 us dollars then you pay 80 us dollars every month until you pay a full payment of 1120 us d dollars. The amount raises by 10 us dollars but the period given to repay is amazing.
With a motorbike and a taxi am going to increase my income because the motorbike will provide 5 us dollars a day after paying the driver which is 120 us dollars a month this is 40 us dollars more the amount required to be paid for the motorbike. The taxi will continue to provide as usual and i will continue to pay the loan from the taxis income.
Please help me increase my income.