Buying a 7-seater Suzuki tuk-tuk (minibus) for public transport

Eric Gichane

Nairobi, Kenya

100% repaid

Entrepreneur

Name

Eric Gichane

Location

Nairobi, Kenya

On-time repayments

324 weekly installments  •  72%

About Me

I am a young self motivated, passionate, focused, trustworthy and hardworking businessman, I am a Kenyan living in Nairobi, passionate about job creation to the young people. I see a great future in entrepreneurship in the very near future.

Professionally: I am a Licensed Pharmaceutical Technologist, Passionate for my profession and always striving to achieve excellent pharmaceutical practice. I am a key leader for our pharmacy professional body as the National S.G.

The Practice: I am honored to serve patients from all walks of life and facilitate their access to life saving treatment and interventions at the job-level and Interactive/social-level. I got an all-round experience from Community Pharmacy Practice, Mission Hospital based Practice, Private Hospital Based Practice and Institutional Pharmacy Practice.

I enjoy meeting people and making new friends. I am a mentor too, I love inspiring others. My dream is to grow my businesses and offer more meningful job opportunities to many.

My Business

I run a cybercafe, two microbuses and two three-wheeler tuk-tuks for public service transportation which are all doing well now. I have 9 employees now and hope to expand more with this loan.
The Cybercafe business has been there since February 2014 and really shot up income-wise since investing my last zidisha loan amount in a Konica Minolta Bizhub C360 Printer and camera and after I got a strategic location that has higher customer traffic. This gives me the enthusiasm to equip it further.

Having excelled in Tuk Tuk public transport service and the spare parts garage kicking on well, I am now venturing into microbus transport services. I intend to buy one more second hand Suzuki Every which costs USD 4,500. It's a seven-seater with a daily net return of USD 15.

Zidisha can currently give me USD 2,985. I will raise the difference. (I have it ready)

I intend to use the loan to fully finance this transport business portfolio expansion venture.

In addition to my other businesses in the public transport industry and the IT/Cyber sector, the new investment in a Suzuki Every vehicle will bring in an estimated average net income of USD 15 per day at the onset.

I have repaid Zidisha Loans before and I can confirm that I will be able to repay back the loan funding in good time.

Loan Proposal

The project will cost USD 6,500 for the vehicle and a further USD 500 for start up operations.
The USD 1420 that I will get from Zidisha will supplement my available finances for the full budget.
Some of the operation costs will include transportation of the vehicle from Mombasa Port, Registration with the transport authority in Kenya.
Joining fees to the SACCO.

Income Source

I appreciate the current challenges with Covid-19 pandemic on business proceeds as I am already in business.

There are restrictions on the number of passengers per vehicle and this has been on since March 2020 when the government provided the restrictions to mitigate the spread.

Instead of 7passengers we are currently doing 5 passengers which the industry has adapted to for the time being. Theres a slight increase on passenger fairs.

With transport industry I can guarantee repayment ability despite the challenges.

Feedback

5

None

None

  • Mannysgirl    Oct 5, 2015

    THANKS!

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  • KiraDee    Sep 11, 2014

    Eric did a great job growing his business and making timely payments. I would definitely lend to him again.

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    • Eric Gichane    Oct 2, 2017

      My appreciation for every support so far, Zidisha has seen my business grow from a start up to sustainability and profitability. Thank you #KiraDee

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  • Prometheus    Sep 7, 2014

    His payments were fast and reliable. I wish him good luck for his future.

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    • Eric Gichane    Oct 2, 2017

      Your wish has gone a long way to date. I'm still growing with Zidisha and really appreciate your support @Prometheus

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  • Landei    Sep 7, 2014

    Congratulations, great work!

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    • Eric Gichane    Oct 2, 2017

      @Landei hope you're doing well today, thanks for the support you've always offered me through Zidisha platform.
      My business has expanded and is growing swiftly.

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  • BoazField    Sep 7, 2014

    Eric was wonderfully professional, repaid on time, and I would gladly lend to him again!

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    • Eric Gichane    Oct 2, 2017

      @BoazField Some words keep us encouraged and challenged to live them, I appreciate your great support.

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Loan Info

Project Type

Classic Loan

Disbursed amount

$1,406.10

Date disbursed

Jun 19, 2020

Repayment status

On Time

Projected term

7 months

Cost to entrepreneur

Service fee: $126.42

Credit risk payment: $189.63

Lenders

Hope2012

United Kingdom

G

guenter

Bremen, Germany

kuebel

Vienna, Austria

U

uovobw

Reggio Emilia, Italy

H

hilde

seattle, United States

Jacob Hedegaard

Risskov, Denmark

C

cyrilleberger

Gammalkil, Sweden

E

explosionsky

Brooklyn, United States

andreasol

Bielefeld, Germany

G

glomardor

Leonardtown, United States

Cloudways

Malta, Malta

juliemartha

Lake Mary, United States

L

leniwiec

Poznan, Poland

ads68

Melbourne, Australia

Jason

Auckland, New Zealand

L

Leonora

TÄBY, Sweden

Freewolf

Salt Lake City, United States

mikeice

Kohler, United States

sderickson

Berkeley, CA, United States

johnhudson

Washington, DC, United States

Z

zidscott

United States

S

Stephan

Netherlands

DF

Dennis Furr

United Kingdom

SE

Sven E

Mannheim, Germany

Dave Bogard

New York, United States

AT

avni trivedi

United Kingdom

M

Marzl

Germany

R

Ryan

United States

Carlo Cruz

Cincinnati, OH, United States

roark22

Geneva, Switzerland

Sinan Taifour

Munich, Germany, Germany

Craig Travis Provyn

Bradenton, Florida, United States

Vratik Krocik

Prague, Czech Republic

D

Dalton

San Francisco, United States

Paul Thompson

York, United Kingdom

JF

J Fister

United States

CP

Colin Pardue

United States

Jane

Ontario, Canada

A

Anonymous

United States

MC

Melissa Corrigan

Richmond, California, United States

Carrie

Arlington, MA, United States

Theo

Zürich, Switzerland

Darren Jeppson

Denver, Colorado, United States

PB

Powered by me

European Union, Netherlands

RD

Roel De Meester

Antwerpen, Belgium

LM

Lee Montecucco

Washington State, United States

Chris

Fairfax County Virginia, United States

Aluric

Peterborough, United Kingdom

AM

Andy Marston

United Kingdom

Claire Lewis

Wales Uk, United Kingdom

AA

Andrew and Kim

Nashville, TN, United States

Metalfreund

Berlin, Germany

PA

Peter A

New York City, United States

KS

Kevin Shay

United States

CJ

Clarissa joshua

United Kingdom

FP

Fred Pratt

United States

ER

Ellen Ray

United States

Matt Weight

Los Angeles, United States

Sharon Giardina

Sydney, Australia, Australia

GR

Germano Rizzo

Venice, Italy, Italy

M

Miles

United States

dave2319

United Kingdom

K

Kirstin

United States

Maria

Germany

R

Rose

United States

RM

Ronald Maze

United States

Richard Paulin

Melbourne, Australia

A

Andy

United States

Rob Williams

Halifax, Canada

GP

Giacomo Poderi

Copenhagen, Denmark

J

JWC

Republic of Korea

A

Ann

Australia

Peter Morse

Amesbury, MA, United States

HL

Harris Lin

New Zealand

MH

Matt Hodges

United Kingdom

Marcelo De Polli

São Paulo, Brazil

KB

Karl Bitz

United States

AM

Angela Mason

United States

CF

Credun Farley

United States

MO

Markus Oma

United States

CJ

Chloe Jensen

United States

TD

Tim Duthie

United Kingdom

JK

Janardan Kelkar

Atlanta, United States

Nick Studenski

Minneapolis, United States

Remo

Switzerland

Joost

Noord Brabant, Netherlands

L

Lisa

United States

S

Stephan

Switzerland

J

Jason

West Palm Beach, United States

Sayuri

United Kingdom

M

Maria

Germany

T

Thijs

Netherlands

K

Kuba

Poland

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