Lender Interest: $490.45 at 6.65% annual rate over 12 months = $35.33
Service Fee: $490.45 at 5% annual rate over 12 months = $26.57
Total Loan Cost:
$35.33 + $26.57 = $61.90
I am 34 years old, married with four children, three of them are schooling. I live in Kiptangwanyi centre, Kiambogo division, Gilgil District, Nakuru county. I am a businessman,. I started as a boda boda operator, where I switched to puncture repairing. I started the business in this area after I realized that the area had a problem in addressing the issue of punctures. I use my earnings to improve on my business since I dont have an opportunity where I can get enough cash to expand my business.
My business is located at Kiptangwanyi shopping centre. kiptangwanyi centre is located at 41 km from Nakuru town which happens to be our nearest major centre. the shopping centre is about 12km from Elementaita trading centre which is mostly known as it was a colonial shopping centre. Kiptangwanyi is in Nakuru county, Gilgil district, kiambogo division, Miti Mingi location, Kiptangwanyi sublocation. My business is near the matatu stage in Kiptangwanyi shopping centre. My business entails the services of repairing punctures for motorbikes, vehicles and even bicycles. There is very high demand of this service since the area is remote, the roads are poor and we are also far away from town making this services very crucial in this area. Customers prefer my services since I offer unique, quality services and at a fairer prices as compared to my competitors. The business is profitable since there are so many boda boda operators in the area making the business profitable. The problems that my business face are lack of more advanced facilties, high prices of crude oil products that I use to operate my air compressors machine. My monthly costs include rent, water, fuel and transport costs. I would be glad if Zidisha would assist me in improving and expand my business since cash is a problem that has been limiting my future plans of expanding this business that I rely much on in order to earn my daily needs for myself and my family.
I would like to buy more spare parts for my business and especially tyres adn tubes for bicycles, motorcycles and motorvehicles.
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