Purchase a motorbike to expand my transportation business
James
Mombasa, Kenya
84% repaid
Entrepreneur
Name
James
Member since
September 2015
On-time repayments
137 installments • 32%
About Me
I am a Kenya citizen born in Nyeri county of Mount Kenya region in 1988. I went to school in the same County up to form 4. After leaving school in 2007 I enrolled for a course in environmental management. I also studied accounts during my spare time and in 2010 I moved to Mombasa where I went to seek for employment.
I got a job with an Estate Agency firm where I got employed as a cahier. I have been working here for the past Four years.
After being employed I realized that the take home was not enough and decided to start a small business to supplement my income. I decided to get a loan from my parents to buy a Tuktuk for carrying passengers within Mombasa town so that I can make more money to better my leaving and eventually to quit employment and engage in full time business.
About where I come from, the land is unique in its surroundings and good weather. It is not far from Mount Kenya and one can easily make a trip to the slopes of Mt. Kenyan where there is a very good scenery.
Not yet married although the plans in the pipeline. I do love travelling, watching soccer and listening to music.
My Business
My business is purely on transport or commuter services. I have a Tuktuk which operates in town within Mombasa Island. It mainly carries passengers from the bus termini to other destinations within the town.
I chose this kind of business because I realized that in Mombasa town, some places are not easily accessible by Matatus, i.e. public service vehicles and as such people have to walk long distances to reach their destinations. With tuktuk you can access most areas in town especially where streets are narrow. At the same time I realized that the returns from this business are not that bad.
I make at least 450 US dollars per month. I use at least 300 US dollars to cater for fuel, driver and maintenance costs.
I use my profits to reinvest and part of it I do save so that I can be able to add another Tuktuk vehicle.
Loan Proposal
I will use the loan to buy a motorbike. I have a certain amount saved and i want to add his amount so that i can be able to purchase the same. The motorbike costs Ksh 110,000. I have ksh 80,000 and when i add this amount i will make the required figure.
By buying this bike i will be able to grow my business and this will help increase my financial base.
This can actually increase my profits by at least 15%.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$301.00
Date disbursed
May 8, 2016
Repayment status
Late
Projected term
26 months
Other loans
Lenders
United States
United States
Jake Gibson and Beverly Picardo
San Francisco, United States
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