Buy a motorbike for transport of school supplies

Entrepreneur

About Me

I am Matthew Njuguna and am 24 years of age. I am a single and a humble young man. I currently finished my coursework in Bachelor of Economics and statistics at Kenyatta University, Kenya. I am therefore awaiting my graduation in December, 2014. I come from a family of three siblings were we are two boys and two girls. Luckily am the second born and the first to become a graduate. This is because my family is not well financially and our father passed away when we were still young. I like helping orphans through their orphans’ homes were I make financial contributions whenever I can. I also help in cleaning and cooking in these orphans homes when am free. Am hardworking and I always strive to achieve the best result from any opportunity that presents itself. I also help in supporting my family with the bills whenever my help is needed. I believe that no matter how many challenges you face, with determination success is achievable.

My Business

In November 2013, I started a small business with the help of my uncle Julius Njuguna. He gave me some financial help to start the business of supplying fresh vegetables and fruits to both primary and secondary schools around my home area, that is, Ruiru Town, along THIKA Superhighway. Since then, I have won seven tenders from three secondary schools and four primary schools. I usually supply these vegetables twice a week in each school. I have two suppliers who supply me with the vegetables from upcountry. When faced with problems, these suppliers refer me to their business partners in Githurai market when I still access the vegetables. This has ensured I always make on-time deliveries. Usually I supply vegetables amounting to Ksh 70,000 a week. My transport costs are usually high since I use rental pick-up vehicle. I thus make a profit of around Ksh 8,000 a week when there is no shortage of supplies. I therefore need to rent a storage house to reduce this problem of supplies shortage.

Loan Proposal

I want to request for these loan which i will use to buy a motorbike by summing it with my savings. the motorbike will help me to supply vegetables to school and thus ensure reliable and quick supply. This is because am in the business of supplying vegetables and fruits to both primary and secondary schools around Ruiru town. Currently I have orders of supplying vegetables to three secondary schools and five primary schools. It has been costly for my business to hire transport each and everyday. this is because the schools am currently supplying to right now are boarding schools. this means that in most cases i do the supplying on a daily basis. hiring of transport has thus been very expensive and it reduces my profits greatly. I recently had a problem with a storage space. luckily my Uncle gave me a room in his commercial house near Thika road superhighway. this has made it easier for me to ensure i do not lack supplies at all times. the problem i now have is transportation and that is why i want to purchase a motorbike. am therefore pleading with lenders to fund me in purchasing the motorbike. i usually make a profit of $100 a week but transportation cost is around $60 a week. if i buy the motorbike i will reduce the transport cost to $25. this means my profits will increase by $35 a week. i will use the profits to pay the loan on a weekly basis. thank you very much as you fund my loan proposal.

Feedback

Loan Info

Lenders