Motor cycle repair

Philemon Kipkoech

Mombasa, Kenya

100% repaid

Entrepreneur

Name

Philemon Kipkoech

Member since

October 2016

On-time repayments

6 installments  •  33%

About Me

I was born and raised in a family that was a middle income by the Kenyan standards nearly 30 years ago. All went well for the first eight years when disaster struck: my parents were not in good terms anymore.

This meant that my upbringing plus the education and those of my five younger siblings were in jeopardy. The parents went ahead to separate and it took sacrifice, hard work, staying focused and unrelenting determination to attain to where I am despite having lost my mum while still midway at secondary school.

I began venturing into business after learning from some friends that it pays handsomely to be in business than in employment. I withdrew some of my savings and bought a motorcycle on a loan and indeed it is a wonderful experience.

The unique think about the land and culture that I live in is that the area is a cosmopolitan urban area with diverse ethnic groups, religious organisations and more so the zeal at which the people embrace hard work as a key to success.

At my family level, I have been listening and asking my two kids what will they want to be in life and the answers were so amazing from the three year old son. He told my wife and I that he wants to be a successful doctor when he is a grown up. The young daughter stammered and said she would want to own apartments and a of cars. From this revelation, you will note that bright future awaits them and a good parental care and guidance is needed.

At my pastime, I do browse the internet to learn more on current news, markets, stock exchange, politics and where to invest. In my timetable, I run for 30 minutes each day for physical and mental fitness.

Thank you all and I value your insight on important life matters.

My Business

I am an investor in the motorcycle industry. I own a single motorcycle that has been of much importance to me in the past one and a half years.

This industry is good although it has its fare share of challenges one being the the high competition from more established individuals/groups. Two, the the untrustworthiness of the hired riders who at times vanish with the accumulated income for the day. Three, the flooding of motorcycles in a slowly increasing customer base.

With this in mind, I am thinking of repairing my motorcycle to it's best level as I strategize on investing in the taxi business soon.

Loan Proposal

I will purchase the worn out tyres, the wires for the wheels and also ensuring that the engine is thoroughly cleaned. this will ensure an economic consumption of fuel is attained besides conserving the environment.

This loan will give me a lifeline to earn again where in the past week my business has stalled. To my friends, it will be my testimony to that there is rising again with your partnership.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$6.00

Date disbursed

Oct 9, 2016

Repayment status

On Time

Projected term

6 weeks

Other loans

Lenders

Paul Buchheit

Mountain View, United States

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