Entrepreneur
Name
Geoffrey
Member since
January 2016
On-time repayments
119 installments • 47%
About Me
My childhood was good thou hard as it was a middle class family, i overcame the hardships by doing brokerage jobs in transportation industry thus making me have ideas about transport industry. Our culture is diverse because we have 42 tribes and my children would like to be automobile engineers and my hobby is mountaineering as i like to strech to my limit.
My Business
My business income is from motorcycle which offers transportation services, the services are useful and have high demand as motorcycles are cheap and convinient mode of transportation. I choose this kind of business as it is easy to manage and revenue is received on a daily basis with typical costs as fuel, licance, insurance and the general service. The profits are majorly used for reinvestment as my vision is to have a leading car hire services. The business has been good and it needs tracking system for efficient management of the fleet. The cost of the tracking devices will be 240 dollars with installation cost of 40 dollars
Loan Proposal
My loan will be used to finance the purchase of a second motorcycle at a cost of 1000 dollars which will enhance the business to increase its income levels to 20 dollars per day with a projection of owing ten motorcycles to operate for one year then the savings plus cash from disposal of the ten bikes will be used to finance the purchase of the first vehicle to be used in car hire services.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$200.00
Date disbursed
Jan 30, 2016
Repayment status
On Time
Projected term
9 months
Other loans
Lenders
United States
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