Entrepreneur
Name
Michael
Member since
April 2015
On-time repayments
225 installments • 44%
About Me
I was born in 1981 in Kenya to parents who were business people. The were Christians staunch and before I began nursery school they became priests in one of the Pentecostal churches in Kenya. Immediately we moved from our urban residence to a remote town in Norther Kenya - Maralal Samburu. This place is so remote that to date there are some people who don't wear clothes. They wrap robes.
This is where I began school and did my 0-level. Due to the town's remote state, education is not taken with much seriousness. My parent's financial strength was also a challenge which made me go to not good schools, and being sent home periodically for school fees. This affected my education in the negative way.
After high school I went to college and did my certificate in human resource management but it became difficult to continue with higher education due to finances. This prompted me to venture into business.
I have tried my hands in various businesses. In those small businesses, I did my savings and managed to buy a Suzuki Maruti Omni minibus.
I work in the transport sector using my Suzuki Maruti Omni minibus. This business is a commuter transport.
In my current locality, the most common mode of transport is motorbike - taking people from the town center to their respective homes in the estates. The other not so common mode of transport is 'tuk-tuk' (forgive me, I can't remember the official name to this 3 wheeled motorbikes. The above two modes of transport encounter several challenges.
The motorbikes for instance, clients/commuters fear for their safety since most riders don't driving licences and therefore not qualified to ride. A lot of accidents occur in this town due to the rogue riders all over the place.
The three wheeled motorbikes also experience the same challenges. Commuters feel very much unsafe riding in these 'tuk-tuks' as well.
After observing the above challenges, I came up with a more comfortable vehicle to take people to their destined places. I was the first person to come up with this idea in this town and with time it has become so popular and accepted by the society.
My Business
I have had a taxi business for a while now. The business has been experiencing a lot of challenges including friction with the 'conventional' modes of transport. These include motorbikes and bigger vans. They have been viewing our type of vehicles as a threat that has come to eliminate them from the market. With this perception in their minds, they have been waging war and fighting us from all fronts. They have been using unorthodox ways to get us out of the market and this has made the business become unprofitable. I get very little from the business. And the little I get is from hand to mouth, coupled with unending repairs of the vehicle having in mind that it is quite old.
This made me think of venturing in another activity that will be income generating to keep my young family going. In a bad day, I don't get clients/commuters to ferry. This strains me financially a lot.
I recently got introduced by a friend of mine to the on-line working business. I went ahead and opened an account with some websites so that I start working on transcription, web design, graphic design and other fields that I am skilled on.
I feel ecstatic that my skills will finally be put to good use and generate me some income. Getting white collar jobs in Kenya is quite an uphill task. But this is a golden opportunity to put my skills into good use.
Much regards,
Mike
Loan Proposal
I am Michael from Kenya. I hereby apply for a loan to finance the education of my daughter who is at a private school locally. In Kenya, primary education is government sponsored in public schools. However, in the area where I stay there are very few public schools which are not enough to cater for the big population in the area. People are therefore forced to take their children to private schools.
These private schools charge exorbitant fees which see people really struggle to educate their children. It is seen as if education is for the rich. Actually the kind of money I pay for my daughter is equal to what I used to pay in high school. I really struggled in my education which saw me sent back home regularly to get the school fees. I vowed never to let my children be sent home for fees to enable them have ample time in their studies.
I therefore ask for a little assistance to help me clear the fee balance for my daughter. The total fee required this term is $170. I have managed to pay $80 and the balance therefore is $90. The schools were opened two weeks ago and the teacher is about to start asking for the money to be paid this week.
It will give me a lot of joy knowing that as I look for money in business, my daughter is working on her books with no fear of her being sent back home for fees.
Thank you as you consider financing this cause.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$95.00
Date disbursed
Sep 16, 2017
Repayment status
On Time
Projected term
4 months
Lenders
United States
United States
Jake Gibson and Beverly Picardo
San Francisco, United States
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