Motorbike taxi to employ another driver

James Wambugu

Ndenderu, Kenya

100% repaid

Entrepreneur

Name

James Wambugu

Member since

June 2014

On-time repayments

308 installments  •  81%

About Me

I am James Wambugu, a Kenyan IT professional, but with a passion for farming.
I was brought up in a rural setting, where indigenous chicken was reared as a hobby as opposed to a commercial venture. Am also venturing in the transport industry which has a lot of potential.
I am currently working as an IT officer with a logistics company, and at the same time rearing indigenous chicken at my rural home.
I am married, with two daughters.
During my free time, i watch a game of football with friends. I am a diehard fan of Arsenal FC.

My Business

The current pandemic has dealt a blow to many businesses and mine was no exception. My motorbikes were unable to bring in any income, as their hours of operation coincided with the curfew hours that was put in place by the government to curb the spread of Covid-19.
I had no option but to sell them.
This time, i want to buy land, with the objective of settling on it and doing commercial poultry farming. I have identified a piece of land that is in a strategic place. I have done due diligence and it is genuine. The land is costing $ 5,000.

Loan Proposal

If I get this loan, I would use it to add another motorbike. The motorbike would cost $950 U.S.D. Another $10 U.S.D. would be used to buy comprehensive insurance.

An additional motorbike would give me an increase of $4 U.S.D. per day, raising my income from $7 U.S.D. to $11 U.S.D. per day.

Repayment would be made from the proceeds of this business.

Since this is an already-running business, it would be easy to meet the weekly repayment schedule.

Show original English  

About Me

I am James Wambugu, a Kenyan IT professional, but with a passion for farming.
I was brought up in a rural setting, where indigenous chicken was reared as a hobby as opposed to a commercial venture. Am also venturing in the transport industry which has a lot of potential.
I am currently working as an IT officer with a logistics company, and at the same time rearing indigenous chicken at my rural home.
I am married, with two daughters.
During my free time, i watch a game of football with friends. I am a diehard fan of Arsenal FC.

My Business

The current pandemic has dealt a blow to many businesses and mine was no exception. My motorbikes were unable to bring in any income, as their hours of operation coincided with the curfew hours that was put in place by the government to curb the spread of Covid-19.
I had no option but to sell them.
This time, i want to buy land, with the objective of settling on it and doing commercial poultry farming. I have identified a piece of land that is in a strategic place. I have done due diligence and it is genuine. The land is costing $ 5,000.

Loan Proposal

If i get this loan, i will use it all to add another motorbike. The motorbike will cost 950 USD. Another 10 USD will be used to buy comprehensive insurance. This extra motorbike will give me an extra 4 USD per day, raising my income from the business to 11 USD.
Repayment will be done from the proceeds of this business. Since its an already running business, it will be easy to meet the weekly repayment amounts.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$1,002.48

Date disbursed

Jan 17, 2019

Repayment status

On Time

Projected term

20 months

Cost to entrepreneur

Service fee: $42.24

Credit risk payment: $168.96

Lenders

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chkuo

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cyrus0302

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AltruisticSelfishnes

Chicago, United States

L

ldron7

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johnandmoliehi

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MakeSense

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C

cjmenchaca

Austin, United States

S

scrabblelives

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C

chrisherron

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Sundstroms

Falun, Sweden

ElWal

Kirn, Germany

E

ebronken

Oslo, Norway

Cloudways

Malta, Malta

yosefchayim

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lorello

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ads68

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Christopher

Copenhagen, Denmark

BF

Bob Fitzjohn

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xtrahardware

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MrMichigander

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Evan Lamos

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G

GoughGirl

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Grant Xavier Storer

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GEMMGMT

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All Countries

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Matt Willis

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W

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Craig

Memphis, TN, United States

C

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Aran Dunlop

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A

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SH

Steven Huntington

London, United Kingdom

Thomas

Sweden, Sweden

Y

YTSJ

London, United Kingdom

JC

Justin cohan

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V

Vidar

Oslo, Norway

I

isaac

United Kingdom

KK

karl kerksiek

United States

E

Elynne

United States

Sinan Taifour

Munich, Germany, Germany

Ren

Minneapolis/StPaul, United States

RS

Rich Stein

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VC

Victor Chong

United States

D

Dalton

San Francisco, United States

Jean Wren Chan

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GS

Gary Sinard

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JF

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KA

Khaled Asmri

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JH

Joseph Hwang

Houston, United States

M

Mary

United States

J

JB

Germany

MH

Matt Hodges

United Kingdom

Ryan Agnew

Australia

B

Ben

United States

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Tokyo, Japan

EA

Eric Ayers

Atlanta, United States

KA

Kate and Tom

United States

RS

Ralph Smyth

United Kingdom

Angela Chu

Toronto, Canada

KO

Kenneth Oram

United Kingdom

EW

Eric West

United States

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