Third motorcycle

Stephen

Kahawa Wendani, Kenya

2% repaid

Entrepreneur

Name

Stephen

Member since

May 2017

On-time repayments

93 installments  •  34%

About Me

Am stephen egesa aged 29 years old, i went to school up to secondary level. while at school i participated in co curriculum activities such as athletics and physical education.when i was young i used to enjoy riding bycle,playing in the rain water, playing hide and seek games etc. when i came to the city of nairobi, i was living with my cousin where i depended on him in nearly everything.After a short time i made a decision to be independent and that is how i started my own business.

My Business

my business is to provide services to customers,i carry people and goods from one place to another a business known as "bodaboda". In a place i stay there are no public vehicles to carry passengers to the main stage which is along Thika-Nairobi super highway , therefore i take that advantage to do business. This business is flexible and reliable because i can do it at any time and also i can not miss customers who needs to travel. I use the the money to educate a child and invest.

Loan Proposal

Since my business is dealing with motorcycles, i am going to add the third one which is going to cost about ks 60,000 which is approximately 600 us dollars. If i will get a loan of ks 38,805, the extra amount i will top up from the profit i make from my business. This third new motorbike will benefit the person that i will employ and my family because the employee will be giving me ks 300 per day which totals to ks 9000 (90 us dollars)per month; while for him ,he will be remaining with the extra amount that he makes .
My overall income will increase to at least a minimum of ks 20,000( 200 us dollars) from my motorcycle that i ride, and ks 18,000 (180 us dollars) per month from my second and third motorbikes, which will total to ks 38,000 (380 us dollars )per month.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$200.00

Date disbursed

Feb 17, 2018

Repayment status

Late

Projected term

13 months

Lenders

I

Ian

United Kingdom

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