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.
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.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$1,002.00
Date disbursed
Jan 17, 2019
Repayment status
On Time
Projected term
20 months
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