To give my tuktuk a major overhaul service
James
Mombasa, Kenya
100% 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
To overhaul my tuktuk vehicle which have not been serviced for some time now. I will buy a new battery and new tyres for the vehicle. The tyres will cost at least 30 US dollars and for three of them this will amount to 90 US dollars. The remainder of the cash will go in purchasing the battery which will cost 25 Us dollars. Oil, lubricants and other service materials to take up the remaining 40 Plus Us dollars.
After the this my tuktuk will be able to run for quite sometime without any breakdowns which had become too common.
This will improve my business because there will be no time wastage due to breakdowns.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$149.00
Date disbursed
Jan 8, 2016
Repayment status
On Time
Projected term
7 months
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