Repair engine of shared van public transport vehicle

Eric

Ngong, Kenya

100% repaid

Entrepreneur

Name

Eric

Member since

January 2014

On-time repayments

184 installments  •  71%

About Me

My Name Is Eric Wambugu. I am the first born in a family of four siblings. I am 30 old and a Travel Consultant with 10 years’ experience in the industry. I work in Nairobi town, the capital city on Kenya. I am married and a father of one daughter who is one year and eight months old.
I generally have a passion for the transport Industry which led me to invest in a Passenger Service Vehicle (PSV) and have been running this business since 2011 to provide extra income for me and my Family.
This year in may i managed to buy a piece of land at a place called isinya and i set up a green house. Its an eight of an acre and have planted tomatoes. I am also able to provide for my siblings and also my parents.
I wish to use this platform to get funds to expand my business having paid my previous Zidisha loans on time.

My Business

Part of my income source includes my salary from my job as a travel consultant.
I also run a Passenger Service Vehicle (PSV) business commonly referred to as Matatu(a fourteen seater van) business here in Kenya.
Basically my matatu plies route between Central Business District(Nairobi) to the outskirts of Town(Ngong). The business has employed two people: Driver and Conductor who collects payments from passengers.
Passengers in kenya always opt to use matatu’s, since they are faster and fill up fast as compared to the thirty three or thirty seven seater buses. The matatu's also makes quick turn-arounds and several trips compared to buses, thus an ideal competitor.
The business generates about $ 20/day gross and a net of $ 15/day.

From my job through the sacco and the matatu business, i managed to buy an eighth of an acre piece of land and bought a green house through a company called Nguzo international. The best thing about Nzuzo is that they manage the farm for you and even have a ready market for the produce. The contract with them is for five years and its renewable. Again, the crops are insured through an insurance company called jubilee insurance. They provide watering equipment, garden horse, hose connectors. water weep hose, coil hoses, PVC pipe fittings and sidllings all at a cost of USD 3000. The income is between USD 300-350 monthly.
I wish to apply for a loan of USD 1950 to purchase another green house, i will add the difference 1050 from my savings.

Loan Proposal

The Loan Requested will be used to repair the engine of the car to take care of an overheating problem that costs $17(the cylinderhead gasket). I will also use it to repaint a part of its body part to improve its image. Passengers here are more attracted to Vehicles that look new. So the paint job will also enable my car make more trips thus boosting my income from the current $ 18 to $ 25 - $ 30.
I anticipate it will take about two days to replace the gasket and repaint. There after the Vehicle will be back in business

Feedback

5

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Loan Info

Project Type

Classic Loan

Disbursed amount

$50.00

Date disbursed

Apr 3, 2014

Repayment status

On Time

Projected term

2 months

Lenders

A

Anninymouse

Southampton, United Kingdom

S

scrabblelives

Nashville, United States

H

howard

Vence, France

dlpringle

Denver, United States

A

ATMiller

United States

M

merk85

United States

Ask Eric 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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  • Daniel    Nov 5, 2017

    Dear Lenders,
    I have tried to reach Eric but his phone went un answered,i will keep trying and advise.Thank you

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  • Daniel    Sep 2, 2017

    Dear Lenders,
    Greetings,

    i have tried Eric but i was not able to get him over the phone,however i spoke to Caroline who is one of the family member provided and she mentioned to me that Eric had travelled and she has also not been able to reach him but once she does she will let him we called

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  • Daniel    Jul 18, 2017

    Dear Lenders,

    Am trying to reach Erick but not able currently will get in touch with him again and advice

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  • Daniel    May 29, 2017

    Erick will be clearing the outstanding arrears by this week.

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  • Eric    May 11, 2017

    Dear Lenders and Zidisha,
    The rain season just started here in Kenya and this always boosts alot of businesses especially on my greenhouse farming. The food prices will go down and this is good to our country. Thanks alot zidisha and lenders for this far you have brought us.

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  • (Comment deleted by author)

  • Eric    Nov 7, 2016

    Hi Lenders and zidisha, thanks alot. I write to confirm that i have received my loan of kes 185,734(around usd 1860). I promise not to dissapoint while repaying.

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  • Eric    Oct 31, 2016

    Thank you lenders for funding my loan. I am very humbled, as posted on my loan request, i will purchase a greenhouse which will improve my income. Be blessed and i promise to repay on time.

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  • Eric    Oct 28, 2016

    Thank you lenders for the the loan i have just completed, after i did the engine overhaul, my vehicle engine is good now and i do not have to keep going to the garage now and then. From the daily income and also from my part of salary, that's how i managed to buy a piece of land and started greenhouse farming.

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  • Daniel    Sep 6, 2016

    Dear Lenders,
    Have tried to contact Eric but is cell phone is not going through,i will be contacting him again and find out if he is ok.

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    • Eric    Sep 9, 2016

      Hi lenders, zidisha and Daniel

      Sorry for the delayed payments, i lost my job in end of july, i have been trying to reorganize my life with the little am earning from my business. I managed to send 6000 yesterday, i will sort the difference as i am sure i will manage without adjusting the installments. Please bear with me. Daniel, will make sure i call you before sunday

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      • Eric    Sep 19, 2016

        Hi Lenders and Zidisha

        As i promised last time, i repaid the outstanding repayment on my account of kes 12000. thank you for your patience.

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  • Eric    Jan 19, 2016

    Hi zidisha and my lenders, i write to confirm that i received the cash today and engine overhaul on my vehicle will start tomorrow. Be blessed

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  • Eric    Jan 15, 2016

    Hi lenders and zidisha, thank you for fully funding my loan before expiry. I am very grateful. Thanks so much and i look forward for good business relationship with you all and hope you will keep up this good course of giving hope to Africa and the developing world.

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  • Daniel    Jan 8, 2016

    Hello Eric,happy new year,good work you are doing their,please keep it up and all the best in your application which will surely be funded.Keep the trust burning may God help you

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    • Eric    Jan 11, 2016

      Hello Daniel, happy new year to you too. thank you for being my mentor and am glad to know that we are from the same area. I am still hopeful of being fully funded before the expiry. Be blessed too.

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      • Daniel    Jan 15, 2016

        You are welcome and congratulation on your loan being fully funded.

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        • Eric    Jan 15, 2016

          Thank you Danie and yes, i was fully funded. Thanks you the lenders and zidisha.

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  • Eric    Jan 8, 2016

    The van that needs overhaul, the other photo is my family; my wife, kid and myself.

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  • Eric    Jan 8, 2016

    Hi lenders and Zidisha. My transport business is doing well. Thank your for trusting in me, i promised not to fail you i have repaid my loan in full. the tracking device really helped me in saving on phone calls because i could trace and monitor the vehicle anytime i wanted. The device also helps by notifying me when the vehicle needs service. It also notifies me incase of over speed, it has engine cut off and many more advantages. Will be looking forward to you in funding my next loan.

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  • Eric    Jun 12, 2015

    Hi zidisha and lenders, i write to confirm that the funds were disbursed to me yesterday night. thank you so much . Will start to repay next week.

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  • Eric    Jun 8, 2015

    Thank you lender's and zidisha. I lack words to thank you, fully funded within hours to expiry. Will never fail to repay as has happened in the past

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  • Eric    May 27, 2015

    Hi Lenders and Zidisha

    Thank you for trusting in me, i completed repaying my loan on on sunday 24th May without fail as promised.
    I have also applied for 5th loan today and am kindly requesting you to fund me.
    Thanks in advance.

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  • Eric    May 27, 2015

    Hi Lenders and Zidisha

    Thank you for trusting in me, i completed repaying my loan on on sunday 24th May without fail as promised.
    I have also applied for 5th loan today and am kindly requesting you to fund me.
    Thanks in advance.

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  • Eric    Feb 21, 2015

    Hello to all Zidisha management and lenders as whole It is my great pleasure to take this opportunity to thank you all.

    I want to let you know that my loan that I took from Zidisha has enabled me to grow my business and as well profits that's why am able to repay back on time.

    Yours
    Eric

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