To purchase a secondhand motorbike
Boaz
Chemwa, Bungoma, Kenya
$0 to go
100% funded of $126 goal
0
days left
Entrepreneur
Name
Boaz
Member since
May 2015
On-time repayments
29 installments • 34%
About Me
I am 47 year old married man who grew up in the area known as Chemwa in Bungoma county.I am the third born of a family of nine children. I was a bright child and attended Chemwa RC Primary school where i skipped certain classes (from class 1 only one term then went to class 2 only attended two terms then i was promoted to class 3).I passed my primary school examinations and because my parents had it rough i did not manage to attend secondary school because of a lack of fees. Because of that i went to Mombasa on Kenyas coast and trained in a driving school but because i couldnt get a bus to employ me, nor any public service vehicle services i came back home.There was a political commotion in the country at the time known as Kaya Bombo in 1997 when elections were disputed and the local people attacked non locals.Many people were killed and i left that town for home.When i got home i bought a bicycle and started ferrying people around for a fee on what is commonly known as bodaboda bicycles.I got married and eventually saved enough money and bought my own motorbike which i now use.I have eight children and all of them are in school,infact i have managed to also pay fees for my bother in laws daughter as her mother passed away and her father was not very responsible.My children love reading and all of them top their classes and make me proud.
My Business
I ferry people and goods throughout the towns around my area for a fee on my motorbike.I usually charge 50US cents per person for a 4 Kilometer ride.I usually make an average of 5$ in a day,while i maintain the motorbike every weekend for an average of 4$. I pay a third party insurance cover for my motorbike at 40$ per year.
I usually use the profits to pay my childrens fees and buy food for them.I also farm and my wife maintains our farm while i buy the seeds used in the farm.I chose this business because i do not have many opportunities but this door opened and i'm making the best of what little knowledge and resource i have to change my life.It has enabled me to build a house ,marry and even buy land.
Loan Proposal
I have a savings of 400$ and would like to purchase a secopndhand motorbike which is not in bad condition.I will also add 200$ which i will borrow from a local savings society and buy this motorbike.It will enable me to earn not less than 12$ per day with these bikes.Thank you everyone.I know i will be able to take my children to a private school that has better standards,and also i can be able to invest more in my farm with planting more produce.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$126.00
Date disbursed
Sep 2, 2015
Repayment status
Late
Projected term
4 months
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