Motorbike taxi business

Jared Amenya

Kyumbi Village- Machakos, Kenya

100% repaid

Entrepreneur

Name

Jared Amenya

Member since

January 2014

On-time repayments

79 installments  •  77%

About Me

Currently am a student The University of Nairobi doing Masters in business administration finance option and also am a student at Kenya college of Insurance undertaking a diploma in insurance.
I attended primary school at Leaders academy which is in Machakos county at Kyumbi- makutano and secondary school at Masii boys high school which is also in machakos county at Masii town.
Due to the current economy in our country where prices of goods and services are high I decided to do farming where I rear quails & chicken and other small businesses like ‘bodaboda’ business so that when I combine all my income I may be able to satisfy my needs and wants and also to venture into new businesses and expand my current business.

My Business

I have a job where I work as tutor at East Africa Institute where I get monthly salary and I do farming which generates income and also I operate a ‘bodaboda’ business which also generates income.
In farming I am a licensed individual by the Kenya wild service to rear quails which are wild birds. These birds and their eggs are highly demanded in Kenya due to the research that has been done that these birds and eggs are cure for many deceases. I found out that there are few quail farmers and a high demand for the birds and their eggs in Kenyan market & in other countries like Nigeria and South Africa. I therefore I decide to rear these birds for business. I just started recently now I have one and a half months in the business and I have started earning ksh 2,000 per week. I believe that if I keep more birds and also expand the cage I will earn more than ksh 8,000 a week.
Also I decided keep chicken which lay eggs because I learnt that the market for eggs and chicken is always available and highly demanded for a long time. Farmers have not been able to satisfy this demand and it is for these reason I made up my mind to keep chicken. The chicken that I keep lay eggs which I sale to local market within my home area and I use income to buy chicken food and save the rest so that I can consolidate all the income.
For the bodaboda business I have employed a driver who carries passengers locally within Kyumbi-Makutano and the passengers pay for the service. The business is profitable because there are few bodaboda in the area and a high demand for transportation. I get my daily return which is over my target and these is a prove of success to me and I wish to expand before other operators.
If I get these loan, I will use it to expand my farming business by having more birds in the firm and also more cages so that I get more eggs for sale which will increase income. Also I will venture into rearing rabbit which also as a high demand in the Kenyan market and gives a high return to most farmers that I have interacted with.

Loan Proposal

I have three Motor Bikes Operating in Makutano Town, am saving to buy another Bike, each Bike fetches Ksh 1000 (USD 11) daily, if i get the loan i will add my saving and increase my Bikes and thus make more cash pay the loan and ask for another.
With four Motor bikes i will be making ksh 3000 (USD $30) daily which will be enough to keep running my business get profit and pay my loan with no or little stress.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$150.07

Date disbursed

Apr 28, 2014

Repayment status

On Time

Projected term

6 months

Cost to entrepreneur

Lender interest: $150.07 at 1.47% annual rate over 6 months = $1.15

Service fee: $2.76

Lenders

E

Escalada

Bakersfield, CA, United States

A

Anonymouse

Netherlands

trincowski

Vilar, Vila do Conde, Portugal

M

meeee

United States

larry

Sweden

A

ajayhk

San Jose, United States

J

jkarbassi

Nashotah, United States

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