To buy a secondhand motobike for taxi

Patrick Juma

Busia., Kenya

5% repaid

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How it Works

Entrepreneur

Name

Patrick Juma

Member since

January 2014

On-time repayments

304 installments • 5%

About Me

Am Patrick juma born 3/4/1986 of id no 25496375. am 28 years . i did my o level in the year 2002-2006. am the fist born of three kids. Am a father of two and am married to one wife who does farming to keep the family going. Today I am a bodaboda operator in Bumala town.
After my o level i was not able to get a job temporary with the ministry of agriculture. I did for the ministry for three month. From the job I was able to get some money from which I started to sell fruits at bumala center I was able to raise money that I asked my parents brother and sisters to support me to get a motorbike to but they could not.
After acquiring hired motorbike I was able to get some money that I was able to start a shed for my wife to sell vegetables. From the business I was able to take my kids to school with less stress

My Business

I am i bodaboda operator in Bumala town.I owned two second hand motobikes.I started this business more than two years ago after failing to get a good job.I used to hire a motobike at KES 300 per day when i 1st ventures into this business.A year later i managed to buy my own moto from somebody here in Bumala.

After working with that my moto,i managed to get another second hand motobike of which i have hired to a friend which he too now pays to me KES 300 per day.

The risks am facing is the cost of maintanance of this old motobike and i wish in future to start buying new motobikes.In Bumala demand of transport is high since its a growing town and also motobike is cheaper as compared to other means of transport.

From this motobikes,i do manage to generate a revenue of KES 50,000 per month but KES 35,000 goes to maintanance and other expences leaving a profit of KES 15,000 per month.With this income i am very sure i will be able to repay the loan with no problem.

Loan Proposal

Once again i am so gratefull for the loan,it really help me improve my life.For the second loan have been saving some little amount with me and wish add with the loan and buy a second hand motorbike at $450 then use $90 to service it.This motorbike i will lease to somebody of which will earn me additional $3 per day.Thank you for your help.