Car wheels

Renox Masulani

Lusaka, Zambia

100% repaid

Entrepreneur

Name

Renox Masulani

Location

Lusaka, Zambia

On-time repayments

3 weekly installments  •  100%

About Me

Renox Masulani are my full names. I am the first born of three children and I am currently based in monze, the southern province of zambia.
My family has humble background but on a sad note, I lost my mother when I was 15 years of age. My father was once part of the Zambia railways company but he's contract ended and could not be renewed because of the new management. Luckily, he had bought a car which we now use as a source of income at home through transportation (taxi). Life has been challenging ever since hes contract ended. Dad does all he can in he's capabilities to make ends meet and on the other hand, I am the one managing the car rather transportation business as a taxi driver.

My Business

As I have already stated in the introduction, I am a taxi driver using my father's car for transportation of clients.
On average, the taxi business has not really been the same as before the pandemic spread. Monze is quite a small town and so not many people own vehicles and that's what gives my family the advantage to make money off the transportation business.
Every Friday, I cash up my father an agreed amount of K2500 and when the week has not been so fruitful my cashing is 2000 and not anything less.

Loan Proposal

Since the business is so much of my father's and the family I also had to start up my own business too.
I have a friend in livingstone Zambia who owns a mechanic shop and who greatly encouraged me to venture into selling of car tyres around monze town.
I order car tyres from Lusaka every second Wednesday of the month because that is when I am usually to pay for them before I sell them here.

Income Source

Taking into consideration the current economic status, the prices are quite high and I also include money for the transport I used to bringng the tyres here in monze so initially the cost of one tyre is almost equivalent to two tyres of which I sell in sets of four! So money to repay the loan would not be as difficult to find because in monze, I am the only one with such business

Feedback

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Lenders

A

Anonymous

United States

Loan Info

Disbursed amount

$10.02

Date disbursed

Feb 17, 2021

Repayment status

On Time

Projected term

1 week

Cost of loan

Service fee: 5% of $10.02 = $0.47

Credit risk payment: $1.27

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