Servicing & replacement parts for motorbike taxi

Elijah Omollo Okendo

Busia, Kenya

100% repaid

Entrepreneur

Name

Elijah Omollo Okendo

Member since

February 2014

On-time repayments

149 installments  •  44%

About Me

I am Elijah Omollo Okendo the son of Mr.Okendo.I was born in Siaya county,Yala Division,Gem East Location,Lihanda Village.I am the 1st born in the family of four.I am not yet married.currently live in Busia county and that is where i does my business at the moment.My business is bodaboda operation in Busia town and its surrounding.I started this business after completing my 0 level education because i wanted to earn a living.I have been working with a leased motorbike but now i have manage to have my own

My Business

I have been doing this business for more than two years now.I started by hiring a motorbike at KES 350 per day.And after saving little by little i managed to buy my own used motorbike at KES 60,000 from a friend.I offer transport service to people within Busia town and also across the border to Uganda.There is a big demand for this service the fact that Busia is located at the Kenya Uganda border many people travel here and there for business purposes.The good thing is i can earn up to KES 1500 per day.

Loan Proposal

Currently my motorbike is not in good condition,this sitiution is hindering my business so much hence lowering my income.I am going to change new shaft,chain,side mirrows,light wiring,change oil,tyres and inner tubes.Ksh 8,000 will be used to buy this spare parts then the remaining amount i will pay for labour service.After this upgrade my i will be able to earn more and repay my loan with no problem.Thank you

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$149.87

Date disbursed

Mar 11, 2014

Repayment status

On Time

Projected term

5 weeks

Cost to entrepreneur

Lender interest: $149.87 at 12.43% annual rate over 1 month = $1.79

Service fee: $0.51

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