Buy spare tires for my vehicle

Edward

Mombasa, Kenya

100% repaid

Follow Edward

How it Works

Entrepreneur

Name

Edward

Member since

January 2015

On-time repayments

106 installments • 41%

About Me

My name is Edward Gitimu, born in 1980 in Muranga – central Kenya. I was born in rural area where there was no modern infrastructure like electricity and tap water. I am married with two children. We lived a very basic life with just the bare life essentials. I did my basic education and then proceeded to university for degree course in business education.

I got a job in Mombasa where I was employed as an accountant in a food processing company. I worked there for four years when I was retrenched. It became difficult to get another job and I used money from my terminal benefits to buy a three wheeler taxi (locally called tuk tuk).

My Business

I run a taxi business. My three wheeler taxi is used to ferry people within the vast town of Mombasa. I normally charge about $1 per trip if it does not exceed 3 kilometers and I make a net profit of about $10 per day which I use to support my family and also for the vehicle maintenance.

I work for long hours since the nature of this business demands it.

Loan Proposal

My three wheeler vehicle has a substantial maintenance budget that I am unable to cope with from my income. I need to replace the tires after every three months to keep it in good shape. If I am successful in my second loan, I will spend them money to buy 3 spare tires where a full set of three tires will cost me $120. This will ensure smooth running of my vehicle for the next three months hence increase my profitability.