Please help me buy car wash machine

Simon Momanyi

Kisii Town, Kenya

100% repaid

Entrepreneur

Name

Simon Momanyi

Member since

July 2014

On-time repayments

95 installments  •  49%

About Me

am a graduate with diploma in business administration.i decided to start a car wash business in order to earn a living.i come from a poor background where my parents are peasant, a struggled through out my school life using community loans to study but all the same made it to complete my studies.i could like to thank you for your assistance that you gave me last loan and every support you gave me. i have managed to move on well ; may God bless you all

My Business

As i told you earlier on my started business back in 2013 when i finished college and realized there's less job avenues in Kenya. i borrowed my mother a soft loan of 5000 kenya shillings which invested in poultry keeping. after 8 months, i sold the hens and I was able to raise ksh 21000 plus my savings in the bank I was able to buy the car wash machine at a cost of kshs 40 000. i used the machine to do the business, whereby i diversified into farming to enable me get more profit.After your assistance i was able to buy abig car wash machine that has made me benefit from it a lot.once more i could like to say thank you.i have now employed three more youth who are enjoying the business and am paying them daily at 340 Kenyan shillings each.At my rural home i started a small kiosk that my mother is too doing well despite the stock is not that enough.I am interested to look for my persona land to settle my business of car washing because am paying 15500 kenyan shillings which is alot money to my business.At home home to i could like to have more stock because at times i lack more important things to my customers,i have already met with the owner of land and it costs kshs 310 000 and plus the stock i want to add is of kshs 45750 with my kshs120 000 savings I can be able to move on well with my business with no problem and now qualify for more grants. my business so far earns me a net proft of kshs 3000 per day . i use a larger junk of the money to pay school fees for my advanced diploma course at kisii university.. please help me raise the remaining kshs150 000 so that i can advance my business.
thanks a lot.

Loan Proposal

I request for this loan which will help me buy another car wash machine, this will enable me expand my business hence create job opportunity to other young people around my place of residence. by expanding my business I will be able to earn more income hence be able to support my younger brothers and sisters who are still schooling.

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Loan Info

Project Type

Classic Loan

Disbursed amount

$150.52

Date disbursed

Aug 15, 2014

Repayment status

On Time

Projected term

8 months

Cost to entrepreneur

Lender interest: $150.52 at 5.46% annual rate over 8 months = $5.85

Service fee: $3.83

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