26 installments • 23%
I am 37yrs old married with four children of school going age. all in school.I have a form four level of education and i live and stay in ongata rongai an outskirt town of Nairobi. i started my business Five years ago to make a living after being in informal employment for some years where i was not able to support my family. with my monthly income of about 30000 i am able to educate and feed my family and support my parents.
I am a motorbike taxi rider where i ferry people from Kware bus stage in ongata rongai to and from their homes. there is high demand for such services as the homes are very far from the main road and bus stage and some interior roads are not accessed by cars. i have many customers due to my experience maturity and characters people trust me unlike my competitors who are younger than me. The business is profitable as the cost of running a motorbike are very law
I want to expand my business of charcoal by buying more stock This year, The first loan helped me get more customers to this business and has increases the demand for charcoal in this area . With the amount i am borrowing i shall be able o get the charcoal from the bushes where i can be able to buy a lorry full of charcoal bags at a fair price which will help increase the profits and i shall be able to employ another person to assist in the work
Jan 10, 2013
Cost to entrepreneur
Lender interest: $1,353.46 at 9.50% annual rate over 12 months = $131.79
Service fee: $48.97