To buy a new engine to refurbish a used car
Wilberforce
Kakamega, Kenya
100% repaid
Entrepreneur
Name
Wilberforce
Member since
April 2014
On-time repayments
334 installments • 78%
About Me
Wilberforce Meki Oyiengo was born in 1976 and a resident of Rosterman. I went to Madende primary, Madende secondary and did my diploma in Architectural at Weco college of applied science and technology.
I am the first born in a family of six.
I started a small business of buying and selling second hand household goods since I was not able to acquire a Government job.
The business includes sale used household goods like Television sets, Refrigerators, Furniture, Microwaves, radios. clients find it affordable to purchase some of this good that they cannot afford to get them while new due to high prices. The business sustains my family being the only source of income.
My Business
I sell second hand house hold goods. This is after I realized many people prefer buying goods at a reduced price than going for a new one.
My source of income has been contributions from relatives, my own savings and borrowing loans from financial institutions like banks which charged high interests that posed a challenge to me.
I buy house hold goods from people who expose them cheaply to solve financial challenges elsware and in turn sell them to others, sometimes i may repair before selling them at fordable price. for example a used up 21`` television is bought at 8 dollars. Then I sell at 12 dollars, while a new is sold at 20 dollars. other goods sold at the same price earns good money.
Loan Proposal
Having been in the field of buying and selling second hand goods, especially house holds, i also started selling second hand vehicles ,buying recondition them then sell at a profit, and that is why i am applying for a loan to help me buy engine for one of the vehicle that are on sell, but has a knock engine. I incurred and got a better engine at a price of 2000 us dollars, therefore if i get this loan i will simply add on some little amount of money and buy it, and i know it will not take long before selling it, because already i have two interested buyers who are waiting for me to recondition the vehicle before buying it , so please help me buy the engine to recondition this vehicle so that i may be able to sale and recover the money i invested in, thank you in advance.
Feedback
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Neutral
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Loan Info
Project Type
Classic Loan
Disbursed amount
$1,512.00
Date disbursed
Jun 1, 2015
Repayment status
On Time
Projected term
5 months
Other loans
Lenders
Bremen, Germany
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