131 installments • 69%
I am a Christian, a family man and entrepreneur. I live in a suburb of the city of Nairobi, Kenya. It’s a pretty good, well developed, relatively safe area of the city and can also be termed as a satellite town of the city itself, as the suburb has developed into a shopping centre complete in itself in availability of services.
I am holder of an undergraduate degree in Information Systems & Technology and also undertaking a graduate program currently. Previously for nearly 10 years, I was in paid employment in the transport service industry till about 9 years ago when I decided to venture out on my own in the same industry. And today, I run my own small car hire business. It is not much at the moment but it is growing and does put bread and butter on my family's table and pays rent.
Today, I run my own small car hire business. It is not much at the moment but it is growing . The market for car hire services is broad and therefore available in spite of stiff competition. I do offer competent services based on well maintained and serviced vehicles that are reliable, an ingredient that is basic to success in this industry. And I am therefore able to stay ahead of the competition by maintaining a steady stream of clients.
Risks to the business are really not much, other than vehicle breakdowns which are an interruption to the business cycle as it may take time to put the vehicle back on the road. This results in loss of business within that layoff period. However this is manageable with express repair and maintenance services from my very able and reliable garage and mechanics.
Also, seeing as how the vehicles are now chauffeur driven, the risk of clients disappearing with the vehicle has become lower and a tracking system in the car lowers this risk even further.
On an average month, my business generates in excess of US$2,100 in revenues. The running costs range between US$900 – US$1,000. That leaves profits of US$US$1,200 – US$1,100 a month. I am making good strides and very pleased about it.
Hello dear lenders,
I have a new project in the works.
This is a Mitsubishi L200 4X4 (see the pics) that I have been blessed with by a brother. I will pay him for use and value of the car over time. I intend to add it my current fleet and expand my services. The vehicle is in high demand, especially for transportation in the remote parts of my country where good roads are a rarity if not nonexistent. Many of the Non-Governmental organisations (NGO’s) and companies that operate in such remote areas lease vehicles such as this one. It’s my intention to extend my reach in providing services to such organisations and individual beginning with this vehicle.
The reason I am seeking for another loan is to be able to install a new set of rear leaf springs and dampers, specially crafted for use on roads that are not all weather roads. This will extend the life of the car and reduce the cost of maintenance over time that comes with the installation of poor parts. The cost of the two sets of leaf springs is about US$105 (Kes10,000). The cost of a set of Dumpers (Shock Absorbers) is about US$145 (Kes14,000).
My research indicates that on a given month that the vehicle will be on lease for at least twenty (20) days at a cost of US$83 per day, this will translate to a return of US$1,667 (Kes160,000) monthly. Total expenses (Drivers Salary, Allowances and Vehicle Maintenance) will come to about US$729 (Kes70,000) monthly. The net return will be about US$938 (Kes90,000). (Calculation is based on the current exchange of Kes96 to US$1).
Of course, the vehicle may work for a full month or several months continuously and not just the twenty days in a month indicated above. The returns may be much higher than indicated here, so my figures are rather conservative. But even then, I will be having enough margins to be able to repay the total amount of the loan comfortably.
I will be most grateful for your assistance to me to be able to achieve my goal of putting this car to work. As you did come to my help with the first loan, I will not disappoint you my lenders this time around either.
Thank you for taking the time to read my proposal.
Jun 1, 2015