Loan to buy a used motorbike for supplies

Vincent

Kahawa, Kenya

23% repaid

Entrepreneur

Name

Vincent

Member since

July 2015

On-time repayments

252 installments  •  22%

About Me

I am the first born in a poligamous family of seven children, currently a final year student pursuing bachelor of economics and finance at Kenyatta University. I lost both of my parents to HIV/AIDS while I was in primary school.The fact that parent died of HIV/AIDs really caused me a lot of stigmatisation as fellow pupils did not want to associate with me but I never let that deter my pursuit for education.
After thorough analysis of the market I realised that majority of the said market could hardly afford a loaf of bread and hence the need of a cheaper alternative. I then did a market research and tested the products to determine their acceptance, my land and culture is unique and is known for its wide spread HIV/AIDs cases.
During my free time I usually visit orphanages for voluntary services and motivational talks.

My Business

I make and sell baked products especially the homemade doughnut.My products are unique in tastes and are also preferred for their freshness and natural nature since I use no preservative.

I chose this business upon studying the market factors.I also wanted to salvage my target group( majority of whom are students) from the escalating prices of loaves of breads.

My typical costs entail the cost of inputs and other miscellaneous expenses totaling up to about 100 US dollars per day as my working capital generating a daily revenue of about 140 US dollars.

I save 15% of my profit and plough back the rest into the business for growth.

Loan Proposal

This loan will go directly to the purchase of a used motorbike to aid me in the supply of donuts.

A used motoebike in good condition currently retails at Ksh.50,000. With current savings of Ksh.20,000 this loan will complement my savings and see me realize my dream.

With a motorbike supply will be faster and convenient even during rainy seasons.A lot of time will be saved that can be put in other aspects of the business.

Profit is also expected to increase by 8 percent. With increased profit i will able enhance financial support to my dependants.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$342.00

Date disbursed

May 10, 2016

Repayment status

Late

Projected term

51 months

Lenders

rebecca

Chapin SC, United States

J

jeffb

United States

J

johans

Malmö, Sweden

tjm212003

Montreal, Canada

S

Snick

Halle, Germany

A

alfredo

Bremen, Germany

H

Hilke

Bremen, Germany

S

susa

Forchtenberg, Germany

G

Givemoreuseless

Waterloo, Canada

J

jra299

New York, United States

valentin

Stockholm, Sweden

F

Frank

Berlin, Germany

B

BRWorthington

San Francisco, United States

HI

Highly Improbable

Saskatoon, Canada

Irvin

Vancouver, Canada

investor

Candiac, Canada

J

johan

Oslo, Norway

P

Peter

München, Germany

M

MarkAndMary

Seattle, United States

Veronika

victoria, Canada

malcolm D

grants pass, United States

ken701

Lede, Belgium

Y

yop324

Ottawa, Canada

BelleStarr

Albuquerque, United States

D

dhedmonds

Toronto, Canada

D

drjofleming

UK, United Kingdom

T

Tourno

Montreal, Canada

Joellen

Boulder, United States

E

Ehaffey

Washington D.C., United States

U

uBaJ41

Afton, United States

C

ColinPlatt

Montgomery Village, United States

O

Oliver

Geneva, Switzerland

DeanDropshot

Oslo, Norway

I

ideerge

Mountain View, United States

F

fergalmatt

Vancouver, Canada

Tilius

Oslo, Norway

J

Jdoyle

Kitchener, Canada

boxer

Boynton Beach, United States

Tuomas

Helsinki, Finland

A

Anonymous

United States

J

jozua

Delft, Netherlands

F

Fiodal

Helsinki, Finland

L

louisela

Eugene, Oregon, United States

F

faical

Cologne, Germany

T

traderjohn

Baltimore, United States

D

danielske

Branford, United States

Pere

Barcelona, Spain

H

HappythroughHelp

Torrance, United States

C

cjmenchaca

Austin, United States

Kysera

Crawfordsville, United States

B

blahblah

Nuernberg, Germany

T

thejacobnorton

Jubail, Saudi Arabia

C

chrisn

Egg, Switzerland

HansLindgren

Uppsala, Sweden

TheWhiteCat

Surrey, United Kingdom

S

SelvaMarcus

Green Cove Springs, United States

beverly

Vancouver, Canada

J

jjonas

berlin, Germany

HE

help each other

Glasgow, United Kingdom

F

fisaire

Ithaca, United States

G

grahamfamily

Guildford, United Kingdom

T

tonilends

catalonia is not:, Spain

indeh

London, United Kingdom

athomas

Chevy Chase, United States

H

HildeK

Rogaland, Norway

amovida

Central valley, ny, United States

Erica

Caledon, Canada

kickerofelves

Sao Paulo, Brazil

W

wordelsue

MIDWEST, United States

Cloudways

Malta, Malta

D

Dadiolafs

Vestmannaeyjar, Iceland

P

penguin3694

Chicago, United States

R

rpmccarthy

Sydney, Australia

B

bugsheep

Houston, United States

M

marcelitohb

Bremen, Germany

D

DThirteen

Miami, United States

Bhayl

Stavanger, Norway

Y

Yevrahs

Dallas, Texas, United States

O

Oscart

Edmonton, Canada

Bruno

São Paulo, Brazil

J

jjoshua2

Hanover, United States

M

mkellerman

Shanghai, China

basicus

Cairo, Egypt

A

alkemyst

Geneve, Switzerland

fairspirit

Utrecht, Netherlands

Gordons28

Santa Monica, United States

K

KnutG

Bergen, Norway

M

Morgue

Brighton, United Kingdom

BF

Bob Fitzjohn

Fontvielle, Monaco, Yemen

K

kjustad

Asker, Norway

neocodesoftware

vancouver, Canada

isabelv

Barcelona, Spain, Sweden

S

Serene

Philadelphia, United States

Zal0m0n

Atlantis!!!! x), Mauritania

U

Ubun2

London, United Kingdom

gseletko

South Perth, Australia

E

Escalada

Bakersfield, CA, United States

S

seikatsu

Palo Alto, CA, United States

dmirpuri

Bangkok, Thailand

Matthieu

Switzerland, France

H

harrymore

Townsville, Australia

xtrahardware

Cazenovia, United States

G

Goetterbote79

Neuhausen, Germany

J

jinx83

Brisbane, Australia

M

Madone52

Brisbane, Australia

HealthcareProvider

Baltimore, United States

E

E

Marin county, United States

G

GoCO

Golden, Co, United States

E

elourenco

Porto, Portugal

Evan Lamos

Brussels, Belgium

G

guggl

Vienna, Austria

dlpringle

Denver, United States

G

GanSatya

United States

B

BobHope

United States

sderickson

Berkeley, CA, United States

O

oonbug

United States

pvilliger

Zurich, Switzerland

M

Malibu

Westwood, United States

H

HoseB

San Francisco, United States

M

microlender

United States

D

drorm

United States

Jonas

Brussels, Belgium

G

geoff

United States

S

spivurno

United States

M

meric

Australia

C

Chad

United States

S

SimonAngus

South Africa

A

allie105

United States

M

Michi

Switzerland

J

jay12

Germany

K

Karpet

Faroe Islands

Brooklyn

Brooklyn, United States

A

ajayhk

San Jose, United States

J

jbhernan

United States

A

Arkad

United States

P

Panda6689

United States

TyWee

Manila, Philippines

A

AlphaAres

Azerbaijan

S

SaraNT

United States

I

idris

United States

A

AlexH

United Kingdom

S

SCHAC

Switzerland

M

M.Umar

Pakistan

E

Estebanito

United States

A

adamdreaming

United States

J

JeremyR

United States

R

Ruj-ura

Thailand

Mike and Jacqui

United Kingdom

S

Stephan

Netherlands

TF

Timothy Fitz

United States

KM

Kirsty M

United Kingdom

Dave Bogard

New York, United States

Family Mueller

Petershagen, Germany

AL

Amy Luo

United States

Robert

Sweden

Sherri Quinn

North Saint Paul, United States

Matt B

Stratford Upon Avon, United Kingdom

PG

Paul Graham

United States

Diego

Monza, Italy

Craig Newmark

United States

The Zinc Team

San Francisco, United States

Humble Bundle Community

San Francisco, United States

V

VJ

Canberra, Australia

A

Anonymous

United States

JG

Jake Gibson and Beverly Picardo

San Francisco, United States

Ask Vincent a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.

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  • Vincent    Jul 2, 2023

    Dear Lenders,
    Greetings to you all.I just wanted to let you know that am personally at pain whenever I remember how this loan has overstayed and really apologize for that.
    I doing everything possible to clear it before end of this year.
    Thanks once again for your support.

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  • Vincent    Jun 29, 2023

    Dear Backers,
    Hope you are all fine and of good health. Today I managed to send something toward the repayments of your support.

    Am still very grateful and committed to partner with you.
    Your financial support has surely played a bigger role in making the person I am today

    Log in to reply • Share
  • Vincent    Jun 21, 2023

    Dear Lenders,

    Hope you are fine and good of health. This is to express my apology for the extended period of dormancy. Please note that it caused by factors beyond my control.

    God has been so graceful and merciful to me to a great extent and am glad to inform you that I have resumed my repayments.

    Thank you for your patience and support.

    God bless you all.

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  • Vincent    Jun 19, 2023

    Attached is the extent of the injury I suffered that rendered me partially handicapped.

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  • Vincent    Jun 19, 2023

    I had an accident in which I suffered a severe thumb injury that was eventually amputated

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  • Vincent    Jul 5, 2017

    Dear Lenders,
    It is with much remorse that i regret failure to owner my obligations despite the tremendous financial support you accorded me.

    I must emphasize that it wasn't my plan neither was it my wish to default but a number of issues that i won't mentioned on this platform.

    In short i thank God for his tender mercies and grace for sailing through the myriad challenges victoriously.

    I am going back to my business and even though am gonna start small i pledge to resume my repayments sooner than later.

    Thank you once again my dear lenders for your support. I am so proud of you and may God bless you.

    Warm Regards,
    Vincent Omondi.

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  • Vincent    Oct 1, 2016

    Dear Lenders,
    My business has suffered a big blow, i have lost a key employee and this is likely to impact negatively on the productivity.

    Hoping to get a suitable replacement soon.

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  • Vincent    Sep 13, 2016

    Dear Lenders,
    I have today set aside all my daily chores just to celebrate your support to me and others.You have truly transformed my life and that of my family at large.I will forever be grateful.

    May God bless you and multiply your resources to continue with this noble cause.

    Thank you all.

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  • Vincent    Aug 22, 2016

    Please allow me reduce my installments to 150KES to enable me reorganize myself

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  • Vincent    Jun 26, 2016

    Dear Lenders,
    I wish to bring to your attention that my daughter has fully recovered and am soon getting my finances on track.

    Thank you once again for your support and understanding.

    Log in to reply • Share
    • Matt B    Jun 26, 2016

      I am very pleased to hear that. Thank you for the update.

      Log in to reply • Share
      • Vincent    Jun 27, 2016

        Thanks Matt.

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      • Vincent    Jun 21, 2023

        Hello Sir,
        I just wanted to let you know that I have resumed my repayments after a long period of time.

        Am still very grateful for your unwavering financial support.

        Thank you.

        Log in to reply • Share
  • Vincent    Jun 6, 2016

    My daughter has been hospitalised for almost two months and the bill went exeedingly high that i had to exhaust my savings and even borrowed from friends and relatives to clear that bill.

    Please kindly reduce my installment amount to Ksh.350 amount i can comfortably manage in this dwindling situation. I will be able to increase it in the near feature.

    Thank you.

    Log in to reply • Share
    • Roy    Jun 6, 2016

      Vincent, I am so sorry to hear it. I wish your daughter a speedy recovery....
      Good luck.

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    • Matt B    Jun 8, 2016

      Vincent - family always comes first. I am sorry to hear about your daughter. Thanks for letting us know. Please continue to keep us informed and I hope your finances recover soon.

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      • Vincent    Jun 8, 2016

        Thank you Matt for empathising with me, hope all will be well soon

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  • Vincent    May 17, 2016

    Primier model, 125cc

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  • Vincent    May 17, 2016

    This is the motorbike i bought.It is still new and reliable

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  • Vincent    May 16, 2016

    Dear Lenders,
    This is to confirm the receipt of your loan of 33,909KES. I am very sorry not to have updated you before. I have had a lot of movements here and there processing the transfer documents.

    I will post a few photos of the motorbike i bought. Its still in better condition. Thank you a lot for your support.

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  • Vincent    May 9, 2016

    I will use this loan to buy a second hand motorbike for supplying my donuts. This will enhance efficiency and effectiveness in supplying even in time of rains, that has proved difficult with the use of bicycle.

    Thank you a lot for your continual support.

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    • Matt B    May 9, 2016

      Vincent - I'm pleased you manage to get your loan. I hope you manage to find a nice reliable bike! It's a shame your bike won't get you all the way to England, as otherwise I would be happy to try one of your donuts!

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      • Vincent    May 10, 2016

        Matt B- Hehehe...it is indeed a shame my bicycle can't take me all the way to England. The negotiations have been finalised and i will acquire a very nice and reliable motorbike once the loan is disbursed.Anytime you come to Kenya (Nairobi) just contact me on [email protected] and i will deliver you dozens of my donuts for testing. Thanks again for your support.Pass my regards to all in england

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        • Matt B    May 10, 2016

          I hope I can make it to Kenya one day - I have met some great people there through Zidisha.

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  • Matt B    May 7, 2016

    Vincent - I hope you manage to raise the full amount. Best wishes for your business. Regards, Matt in England.

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    • Vincent    May 7, 2016

      Matt B- Thanks for your contribution and concern.I haven't raised the full but am so optimistic i will before it expires.

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  • Vincent    Apr 25, 2016

    Dear lenders,
    I have today made my last installment in second loan and am so grateful to be part and parcel of zidisha.

    The second loan came at a time when my business was experiencing boom and my operating stock could not meet the high demand that prevailed then so your loan played a very critical role.

    Finally, my second loan saw my profit increase by 12%. Am looking forward for your support in my subsequent loans.

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  • Vincent    Apr 3, 2016

    Dear Lenders,
    Today i can afford three meals a day! What used to be a huge mountain to climb.Access to cheap credit is a sure way to empower poor people.Thank you for your continued support.

    God bless you all.

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  • Vincent    Mar 28, 2016

    The industry is currently experiencing boom and we are enjoying supernormal profits so i wish to adjust my installment upwards and re adjust it later when this boom ceases

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  • Vincent    Mar 24, 2016

    My business is currently experiencing boom and thus i would like to adjust my instalments upward from Ksh300 to Ksh.1000

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