Buy used car for sale

Wilberforce Oyiengo

Kakamega, Kenya

100% repaid

Entrepreneur

Name

Wilberforce Oyiengo

Member since

April 2014

On-time repayments

334 installments  •  78%

About Me

Wilberforce Meki Oyiengo was born in 1976 and a resident of Rosterman. I went to Madende primary, Madende secondary and did my diploma in Architectural at Weco college of applied science and technology.
I am the first born in a family of six.
I started a small business of buying and selling second hand household goods since I was not able to acquire a Government job.
The business includes sale used household goods like Television sets, Refrigerators, Furniture, Microwaves, radios. clients find it affordable to purchase some of this good that they cannot afford to get them while new due to high prices. The business sustains my family being the only source of income.

My Business

I sell second hand house hold goods. This is after I realized many people prefer buying goods at a reduced price than going for a new one.
My source of income has been contributions from relatives, my own savings and borrowing loans from financial institutions like banks which charged high interests that posed a challenge to me.
I buy house hold goods from people who expose them cheaply to solve financial challenges elsware and in turn sell them to others, sometimes i may repair before selling them at fordable price. for example a used up 21`` television is bought at 8 dollars. Then I sell at 12 dollars, while a new is sold at 20 dollars. other goods sold at the same price earns good money.

Loan Proposal

I buy and sale used items like mortovehicles which are still in moving condition, since i still dont have enough capital to have a car bursa yard, i desided to be buying one or two cars that are used and still in good moving condition, fix it to be more beter and then sale the same at a profit.
I got a car that is being sold at 4,000 dollars and i have deposited same of 2,000 dollars, which the balance is to be paid by 4th December 2015, this made me to adjust my last loan by raising my weekly instalments from 5 dollars to 10 dollars weekly, i know it was not good but i dint want to default the agreement with the owner of the vehicle, so please help me raise this money to pay for the balance, thanks in advance.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$2,230.39

Date disbursed

Dec 15, 2015

Repayment status

On Time

Projected term

6 months

Cost to entrepreneur

Service fee: $97.36

Wilberforce opted to pay $117.86 into the Zidisha Members Loan Fund in return for a higher starting credit limit.

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