Increase stock of motorcyle spare parts

Hadson Wakaba

Khisero Village, Kenya

100% repaid

Entrepreneur

Name

Hadson Wakaba

Member since

April 2014

On-time repayments

24 installments  •  71%

About Me

My names are Hadson Wakaba Ndiang’ui. I grew up in Nakuru County but later moved to Kakamega county at a place called Khayega. Where I now live with my family. I am married to one wife called Jacinta Muthoni. We have twin children who are both girls. They both attend Elimu Nursery school in Khayega. I come from a humble Christian background. I run the business of selling bicycle spare parts. I have been in the business for over two years now having changed from dealing in electrical goods. I moved to bicycle spare parts because I saw the great potential of the business, especially now that many people are buying bicycles which regularly need repair. I run my shop along Khayega Town. I buy my wares from business persons who import them from Asia, mainly China. I have every bicycle spare part one can need. Most of my customers are bicycle taxi operators who work in the rural parts Kakamega county.

My Business

My business involves selling of bicycle spare parts. In my shop, I sell bicycle tubes, tyres, brake pads, seats, helmets, among other items. bicycles has emerged as a reliable mode of transport in many rural parts of Kakamega County. And with increased use of bicycles in the public transport system, demand for spare parts due to tear and wear has risen.The business is lucrative. Price of goods in my shop range from between US$0.2 US$ 20. The expensive parts are bicycles frames, most of which are made from aluminum tubes. The much soughted spare parts are tyres and brakes. Tyres are on high demand because they need routine replacement. Most operators change them between four and seven months. I sell the tyres between $17 and $19 depending on the make and quality. On a good day, I can make up to $50.My main challenge is counterfeit spare parts. There are so many counterfeit spare parts in the market that it is hard to avoid them. They are cheap but do not last. Some customers buy them only to come and complain few days later, which is not good for business. My dream is to open a wholesale business for bicycle spare parts. I am hereby requesting Zidisha microfinance to help me by funding my loan.

Loan Proposal

With this money, I will be able to add a few stocks of motorcycle tubes, tyres, brake pads and seats. This will really boost my business. This is because the motorcycle tubes, tyres and brake pads and seats always sell much quicker than the other stocks. I will use the profit from my business to pay back my loan promptly. I therefore appeal to lenders to help me get more stock of goods in my shop. Thank you

Feedback

3

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Loan Info

Project Type

Classic Loan

Disbursed amount

$50.00

Date disbursed

May 19, 2014

Repayment status

On Time

Projected term

5 weeks

Lenders

Sarasota

Sarasota, Fl, United States

dlpringle

Denver, United States

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  • Isak Maaseide    Apr 23, 2015

    Dear Hadson,
    Haven't heard from you for a long time. How is business? Is there anything we - your community of lenders - can help you with? Please keep in mind that your international group of lenders come from all walks of life and may be able to offer you good business advice as well as the encouragement you may need to keep going through "down-periods" for your shop. I look forward to hearing from you soon :-)
    Isak.

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  • BigWillie    Mar 3, 2015

    Hi Hadson
    How are things with you? We have had no word for some time.
    William

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  • Isak Maaseide    Oct 7, 2014

    Best of luck with your business, Hadson, and thank you for your prompt reapyments so far!

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  • Hadson Wakaba    Oct 5, 2014

    I wish to reschedule my loan so that I pay Ksh1000. I gave out some goods on credit but unfortunately my client experience some problems. The money I have right now is for some few stocks which I really need in my shop. I am struggling at the moment financially but I will be paying an amount that I will get from my other clients. Thank you

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  • Hadson Wakaba    Sep 24, 2014

    I take this opportunity to first thank all my wonderful lenders for their support. Your help has changed my life a lot. My business has improved much more than I expected. It is now stable and I am now capable of repaying back my loan without any problem. I wish to return this money at Ksh 2500 without any further delay. Thank you so much

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  • mikedufty    Sep 23, 2014

    Nice to hear your business is going well, though I'm sorry to hear of all your customer's punctures.

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    • Hadson Wakaba    Oct 4, 2014

      Thanks you mikedufty. Our roads are really bad. Many rural parts of Kakamega County have no tarmac roads. The bicycles keep getting punctures

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  • Hadson Wakaba    Sep 23, 2014

    Many more thanks to Zidisha micro-finance and all my lenders. My business is doing great. I am getting a good number of customers daily. I am almost selling all my bicycle tubes. Thanks to you

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  • Hadson Wakaba    Sep 2, 2014

    I take this opportunity to thank all my lenders once again. You have really helped my business. I bought stocks of good with the loan that you gave me. I am happy to inform you that these stocks have now started selling. I am getting customers almost on a daily basis.Thanks to you

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  • Hadson Wakaba    Jul 19, 2014

    To my Lenders, I wish to reschedule this loan because the money you lend me helped me to buy more stocks of bicycles tubes, seats,bells, and tyres. The stock is still new. I believe it will start moving soon so that I can go back to repaying my loan as I had planned.thank you so much for your help. I will not let you down.

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  • Hadson Wakaba    Jul 2, 2014

    eridan, aiban,goodwithoutgod, imaaseide, theironbank ,angelapeat01, davidt , mikedufty. Thank you very much for your support.

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  • Hadson Wakaba    Jun 30, 2014

    Howard, lenders ,RickRozemulle, mraph, thank you so much for your support.

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  • Hadson Wakaba    Jun 25, 2014

    I take this opportunity to thank all my lenders for their support. I was able to buy brake pads and seats. I am still working hard to get more money to increase the stocks of tubes and tyres. Because of the inflation that we are experiencing in our country, the prices of bicycles parts has gone a little bit high and therefore I was not able to buy everything as I had planned.

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