Inventory of spare parts for my motor repair service
Stephen
Kisauni, Kenya
100% repaid
Entrepreneur
Name
Stephen
Member since
June 2014
On-time repayments
266 installments • 25%
About Me
My name is Stephen Nganga. I was born in 1983 in a place called Uplands in Central Kenya. I later went to primary school and later secondary school in the same area.
After school, I relocated to Mombasa where joined a training college in year 2000 and I was trained as an auto-mechanic. I worked as an apprentice after clearing the course and later started my own garage after acquiring the necessary skills. My garage is in outskirts of Mombasa town in a place called King’orani.
I am also an active member of my church – PCEA Kisauni where I serve as a deacon. I am also the chairman of Men’s Fellowship Group with a membership of 180 faithful. I am a pianist in the same church.
My Business
I run a motor garage in Mombasa town. I started this business 10 years ago. I service and repair all Japanese models like Toyota, Nissan, Mitshubishi etc. My work ranges from minor repairs like mirror replacements to more complex ones like engine overhaul and bodywork.
With time I have built my reputation among the motorist in this region and I am always assured of continuous flow of clients. In spite of my relative success, I do run into some challenges the foremost one being lack of capital to stock vehicle spare parts. Given credit, I can build my stock so that I don’t have to buy the parts when the client arrives for service or repair. This will save time and increase my profitability since I will be able to get discount when I buy the parts in bulk.
I make a net profit of about $300 per month which I use to support my young family.
Loan Proposal
As mentioned above, I run a garage, and if this loan is funded, I intend to use the money to buy the fast moving spare parts as shown here below.
10 Air cleaners @ $3 Total $30
10 Oil filters @ $3 Total $30
5 sets of Spark plugs @$8 Total $40
4 sets of Brake pads @$8 Total $32
This will be a big boost to my business and I will be able to maximize on my profits and do my work with a lot of convenience. Since my business is quite profitable, I will make the repayments promptly from my business income.
Thank you.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$150.00
Date disbursed
Jul 16, 2014
Repayment status
On Time
Projected term
4 months
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