Purchase of a new injector pump

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

When I get this loan($423), it will help me purchase the new injector pump at $ 500, i will also include my savings(of $77 and $ 60 for the timing belt). This will increase my earnings every day by $ 5nett and will be earning $ 30 gross and $20 nett per day since the pump will reduce overconsumption of the fuel and overall performance of the matatu. I anticipate it will take about one day to replace the pump and timing belt. There after the Vehicle will be back in business

Feedback

5

None

None



Loading...

Loan Info

Project Type

Classic Loan

Disbursed amount

$444.00

Date disbursed

Sep 10, 2014

Repayment status

On Time

Projected term

3 months

Lenders

tycho

Madison, WI, United States

AdamP

Sunnyvale, United States

M

m_dennis

Toronto, Canada

S

sirius

Lauterach, Austria

EmilAsker

Lomma, Sweden

kickerofelves

Sao Paulo, Brazil

Ellwood

Richelieu, France

M

mkellerman

Shanghai, China

fairspirit

Utrecht, Netherlands

ShaneS

Port Pirie, Australia

H

howard

Vence, France

Sarasota

Sarasota, Fl, United States

Matching Fund

Sterling, United States

M

mguenter

Switzerland

S

stryker75

United States

LouisB

ZIDISHA, Mozambique

J

JessicaAna

Maputo, United States

F

Foster

United Kingdom

Ask Eric a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.

Loading...

Summary

Amount repaid

$456.05

Amount remaining

$0.00

Date repaid

Dec 18, 2014

Status

Fully repaid

Repayment History

Expected Payments Actual Payments
Sep 18, 2014 $32.57 Sep 18, 2014 $32.57
Sep 25, 2014 $32.57 Sep 25, 2014 $32.57
Oct 2, 2014 $32.57 Oct 2, 2014 $32.57
Oct 9, 2014 $32.57 Oct 9, 2014 $32.57
Oct 16, 2014 $32.57 Oct 16, 2014 $32.57
Oct 23, 2014 $32.57 Oct 23, 2014 $32.57
Oct 30, 2014 $32.57 Oct 30, 2014 $32.55
Nov 6, 2014 $0.02
Nov 6, 2014 $32.57 Nov 6, 2014 $32.55
Nov 13, 2014 $0.02
Nov 13, 2014 $32.57 Nov 13, 2014 $32.55
Nov 20, 2014 $0.02
Nov 20, 2014 $32.57 Nov 20, 2014 $32.55
Nov 27, 2014 $0.02
Nov 27, 2014 $32.57 Nov 27, 2014 $32.53
Dec 4, 2014 $0.05
Dec 4, 2014 $32.57 Dec 4, 2014 $32.52
Dec 11, 2014 $0.06
Dec 11, 2014 $32.57 Dec 11, 2014 $32.52
Dec 18, 2014 $0.06
Dec 18, 2014 $32.57 Dec 18, 2014 $32.52

Loading...