Engine overhail for my taxi

Eric Wambugu

Ngong, Kenya

100% repaid

Entrepreneur

Name

Eric Wambugu

Member since

January 2014

On-time repayments

184 installments  •  71%

About Me

My Name Is Eric Wambugu. I am the first born in a family of four siblings. I am 30 old and a Travel Consultant with 10 years’ experience in the industry. I work in Nairobi town, the capital city on Kenya. I am married and a father of one daughter who is one year and eight months old.
I generally have a passion for the transport Industry which led me to invest in a Passenger Service Vehicle (PSV) and have been running this business since 2011 to provide extra income for me and my Family.
This year in may i managed to buy a piece of land at a place called isinya and i set up a green house. Its an eight of an acre and have planted tomatoes. I am also able to provide for my siblings and also my parents.
I wish to use this platform to get funds to expand my business having paid my previous Zidisha loans on time.

My Business

Part of my income source includes my salary from my job as a travel consultant.
I also run a Passenger Service Vehicle (PSV) business commonly referred to as Matatu(a fourteen seater van) business here in Kenya.
Basically my matatu plies route between Central Business District(Nairobi) to the outskirts of Town(Ngong). The business has employed two people: Driver and Conductor who collects payments from passengers.
Passengers in kenya always opt to use matatu’s, since they are faster and fill up fast as compared to the thirty three or thirty seven seater buses. The matatu's also makes quick turn-arounds and several trips compared to buses, thus an ideal competitor.
The business generates about $ 20/day gross and a net of $ 15/day.

From my job through the sacco and the matatu business, i managed to buy an eighth of an acre piece of land and bought a green house through a company called Nguzo international. The best thing about Nzuzo is that they manage the farm for you and even have a ready market for the produce. The contract with them is for five years and its renewable. Again, the crops are insured through an insurance company called jubilee insurance. They provide watering equipment, garden horse, hose connectors. water weep hose, coil hoses, PVC pipe fittings and sidllings all at a cost of USD 3000. The income is between USD 300-350 monthly.
I wish to apply for a loan of USD 1950 to purchase another green house, i will add the difference 1050 from my savings.

Loan Proposal

The loan requested of USD 595.00 which will be used for the complete overhaul of the saloon car(toyota probox) i purchased in december. My mechanic did the total cost on the engine block, cylinder head, gaskets, sleeves, oil, rings, pistons, seals and the valves will cost around $600.00. His labour will cost about $40.00 but for this i will give him from some savings i have.

Feedback

5

None

None



Loading...

Loan Info

Project Type

Classic Loan

Disbursed amount

$650.98

Date disbursed

Jan 12, 2015

Repayment status

On Time

Projected term

4 months

Cost to entrepreneur

Lender interest: $650.98 at 4.58% annual rate over 4 months = $10.81

Service fee: $8.73

Lenders

Zidisha

Sterling, United States

Cricketca

San Jose, United States

M

MichaelSmith

Dallas, United States

S

sarapho

Hawkestone, Canada

L

LongTallSallymander

Menomonee Falls, United States

J

Justicar007

Longueuil, Canada

S

ScottEastman

Green Bay, United States

Benz0

Reno, United States

H

hokyplyr

Lincoln, United States

A

anonalender

Hampshire, United Kingdom

S

saraef

Nottingham, United Kingdom

A

AndrewC

London, United Kingdom

G

gradient

KFAR SABA, Israel

I

idakaren

bonlez, Belgium

3

381inc

Beverly HIlls, United States

P

Paleomagick

Eldred, United States

Rena121

Sydney, Australia

C

Carlos

Barcelona, Spain

DainS

Peregian Beach, Australia

S

smetis

Kananaskis, Canada

S

Sreval

Manly, Australia

FriendinOregon

Hillsboro, Oregon, United States

A

Anonymous

United States

P

Pavane

Kungsbacka, Sweden

L

lewisfamily

Bicester, United Kingdom

B

bakedpotato

Middletown, United States

W

wilma95

napa, United States

E

Ekevu

Zürich, Switzerland

whiteboyinasia

Batu Ferringhi, Penang, Malaysia

N

NickLuder

London, United Kingdom

A

Alaska

Roscommon, United States

O

Ohio

Ohio, United States

T

ThereIsNoGod

Singapore, Singapore

P

Pillango

Frankfurt, Germany

A

alettore

Schleinikon, Switzerland

A

angie42

Clinton Township, United States

M

Mikel

Buchs, Switzerland

A

andprosper

World Peace, United States

Mrdressup

Brisbane, Australia

D

Draka

South park, United States

N

nglogic

Warszawa, Poland

90803

Long Beach, United States

Svetlana3k

Harvard, United States

RolandS

Ingolstadt, Germany

M

mcmathae

Santa Clara, United States

C

christopherttran

Toronto, Canada

J

JacobKate

Brisbane, Australia

JoaoManuel

Santiago Do Escoural, Portugal

somuchjackson

Boston, United States

stroi08

Odense C, Denmark

E

Esseni

Cincinnati, United States

S

susurruses

Oakland, United States

M

mallika

Laguna Niguel, United States

Y

yunfangjuan

Palo Alto, United States

R

raisage

Cote Saint-Luc, Canada

A

Andrea

Berlin, Germany

A

andresol

Oslo, Norway

J

jaaron

Auburn, United States

B

Bertah

Ekenäs, Finland

D

doroncoh

Tel Aviv, Israel

E

edgrr000

Dallas, United States

C

Catch22

The Colony, United States

B

Budgie81

Norwalk, United States

T

Tessa

Lake Mary, United States

J

johneaton

Ludlow, MA, United States

J

jebediahFND

Oslo, Norway

H

haavi

Espoo, Finland

HernanB

Berlin, Germany

M

More-Like-Them

orange, United States

E

emilys

Rochester, United States

R

rosebo

Bend, United States

T

Travelover

Northville, United States

Parkmobile

Fort Bragg, United States

G

Gdrvasc

Frederick, United States

B

Branjsmith

Philadelphia, United States

S

skohli

san francisco, United States

S

sgunnink

Utrecht, Netherlands

B

Baldnerd69

Cross Plains, United States

H

happytrailsjpd

South Bend, United States

A

andy.gayton

San Francisco, United States

M

markus61

cologne, Germany

S

svt19

Toronto, Canada

I

ingredion00

Indianapolis, United States

S

Sunflower

116 Taylor Drive, United States

D

daylin

Chicago, IL, United States

M

mibrahim51

Mountain View, United States

A

adelias

plymouth, United States

E

emilyeaton

New York, United States

G

Graceanne

milwaukee, United States

R

robertsk

Yuba City, United States

A

andykhl

Jersey City, United States

K

ksiebrandt

Omaha, United States

J

JudoGlenn

North Olmsted, United States

Namulanda

nairobi, Kenya

A

Armeij

Veendam, Netherlands

D

dmartink

Maryland, United States

G

GreenMoney

Lahr, Germany

A

anson

Alexandria, United States

T

Topper

Simi Valley, United States

F

frazier

rock springs, United States

M

mlripley

mmbbri[email protected], United States

A

Alizar

Toms River, United States

S

SanderBeckers

Brussel, Belgium

mfrost3

Dakar, Senegal

A

AEDCPD

Berlin, Germany

JinxGirl

Winnipeg, Canada

A

akshu71

Ottawa, Canada

T

Texikan

Fort Worth, United States

A

AandCfromCanada

Spruce Grove, Canada

R

RohitSingh

Montreal, Canada

D

dbuksh

United States

D

dj9812

United States

TomF925

www.AfricaLeap.com, United States

C

cktsai

United States

K

kelsiek

United States

M

Morgan1301

United States

L

liseman

United States

C

cindywu

United States

S

Smadori0

United States

T

TheNJBoys

United States

M

Molloy

Moorpark, United States

D

DanielW

United States

G

grogzoid

United States

Paul Buchheit

Mountain View, United States

Grant Xavier Storer

Seattle, Wa, United States

KM

Kirsty M

United Kingdom

Tanya

Nelson, New Zealand

Paul Buchheit

Mountain View, United States

Ask Eric a question about this loan project, share news and photos of your own, or send a simple note of thanks or inspiration.

Loading...

Loading...

Loading...