Buy some spare parts for my motor bikes
Isaac
Nairobi -kawangware, Kenya
39% repaid
Entrepreneur
Name
Isaac
Member since
February 2015
On-time repayments
6 installments • 0%
About Me
My name is Isaac Owino Othieno . I was born in a village called simuli in butula constituency in Busia county on 3/6/1988. My childhood was basically good and enjoyable since I grew up surrounded by a very loving family. Caring parents and cheerful siblings with whom I played all day. I went to school at a local public primary school,simuli,for my pre primary and primary education . I then proceeded to the nearest high school and did my KCSE. Life was never smooth though, because on several occasions I encountered hardships as a youth but with strong will and persistence, I worked towards my major life's goal. Education. I actually did some savings for some time before I setup my business which deals with transport. I bought two motorcycles and rented them out and payment is made on weekly basis. And now, it's up and running,though challenges are bound to exist.
I come from a luhya tribe, in western part of Kenya. Well, the most unique and interesting thing about our culture is the circumcision of males. The season comes along with enthusiasm and it's totally crazy with songs and dances. It's usually fun filled and lively. It brings along the sense of belonging. I have two adorable kids whom am so proud of. They are actually still young,but quite intelligent. They are my source of joy and I love them. Maryanne has always admired being a journalist and enjoys watching news. Trevor has always wanted to be an electrical engineer.well, that's their passion.
After all day's hard work there comes time for recreation. A time to relax with family, my kids. I enjoy playing with them during evenings and it's part of my hobby. I also like going forwards a walk as pass time.
My Business
My business actually involves provision of services to the people. I bought two motorcycles initially,and later on added three more. I rented them out to be used for public transport. They are used to transport customers to their destinations,that is, Boda Boda business.
Well, I love my business passionately because I love serving other poeple.Through my business,I get into direct contact with my customers and actually understand their feelings and preferences. They get to suggests to me the areas that I need to improve on. This way, I get to serve them passionately and satisfactorily. My business has no limits and time frame,since it operates 24hours 7days. Besides, I am my own boss. It's also always in demand because people use transport daily when going about their businesses. I chose this kind of business because besides being common,one can never miss to earn income.
In a month, I raise roughly one hundred thousand shillings from the five motorcycles, from which I deduct the cost of maintenance, which total up to ten thousand. After settling other bills and salary payment, I count fourty thousand as my revenue. This is my profit.
I utilise this profit in various expenses. I spend five thousand in household expenses, ten thousand is my savings. I spend five thousand in my children's school fees to cater for their education and reinvest five thousand into the business. I also donate one thousand five hundred to children's homes to cater for their welfare. The remaining amount I use to afford a little leisure and happiness for my family members.
Loan Proposal
If give this loan, I will use this money to buy spare parts for my motor bikes. I will buy things like tyre tubes and tyres themselves so that they work smoothly without interference of punctures every time. I will also use part f the money to beautify the motorbikes as Nairobi customers mostly like beautiful things and that will give me more customers and more profits. The beautification will cost me around 20 dollars and the rest of the amount will buy tubes which goes at 25 dollars each.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$50.00
Date disbursed
Feb 17, 2015
Repayment status
Late
Projected term
6 weeks
Lenders
Duisburg, Germany
Jake Gibson and Beverly Picardo
San Francisco, United States
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