Vehicle tracking equipment

Andrew Maringa

Nairobi, Kenya

100% repaid

Entrepreneur

Name

Andrew Maringa

Member since

January 2014

On-time repayments

131 installments  •  69%

About Me

I am a Christian, a family man and entrepreneur. I live in a suburb of the city of Nairobi, Kenya. It’s a pretty good, well developed, relatively safe area of the city and can also be termed as a satellite town of the city itself, as the suburb has developed into a shopping centre complete in itself in availability of services.

I am holder of an undergraduate degree in Information Systems & Technology and also undertaking a graduate program currently. Previously for nearly 10 years, I was in paid employment in the transport service industry till about 9 years ago when I decided to venture out on my own in the same industry. And today, I run my own small car hire business. It is not much at the moment but it is growing and does put bread and butter on my family's table and pays rent.

My Business

Today, I run my own small car hire business. It is not much at the moment but it is growing . The market for car hire services is broad and therefore available in spite of stiff competition. I do offer competent services based on well maintained and serviced vehicles that are reliable, an ingredient that is basic to success in this industry. And I am therefore able to stay ahead of the competition by maintaining a steady stream of clients.

Risks to the business are really not much, other than vehicle breakdowns which are an interruption to the business cycle as it may take time to put the vehicle back on the road. This results in loss of business within that layoff period. However this is manageable with express repair and maintenance services from my very able and reliable garage and mechanics.

Also, seeing as how the vehicles are now chauffeur driven, the risk of clients disappearing with the vehicle has become lower and a tracking system in the car lowers this risk even further.

On an average month, my business generates in excess of US$2,100 in revenues. The running costs range between US$900 – US$1,000. That leaves profits of US$US$1,200 – US$1,100 a month. I am making good strides and very pleased about it.

Loan Proposal

Dear Lenders,

Currently, Car theft and Car Jacking are becoming prevalent, especially in the outlying areas of Northern Kenya, where my 4X4 truck usually operates in.
It is therefore prudent and also a requirement from Insurance Companies for a vehicle to be installed with a car tracking equipment. For my own peace of mind, it is imperative that this gadget is installed in my vehicle.
Equally of importance is that many of the clients (who usually are foreigners), have been inquiring if the vehicle(s) on offer have a tracking ware installed, so in order to retain the edge in the industry, and avoid unnecessary layoffs and loss of revenue, it is prudent for me to have the tracker installed as soon as possible.
Total cost of purchase and installation is about Kshs 25,000/= (US$ 250 or so).
Thank you for giving your time to read through my proposal and I hope that it will meet with your approval and your financial support.

Feedback

None

None

None

Loan Info

Project Type

Classic Loan

Disbursed amount

$95.11

Date disbursed

Dec 29, 2015

Repayment status

On Time

Projected term

3 months

Cost to entrepreneur

Service fee: $3.95

Andrew opted to pay $71.19 into the Zidisha Members Loan Fund in return for a higher starting credit limit.

Lenders

A

andyfletcher

I want my "My loans" page back, Qatar

F

flaguy999

Tampa, United States

dlpringle

Denver, United States

Jonathan Ely

Aldershot, United Kingdom

Nick

Manchester, United Kingdom

P

philcain

United States

Ask Andrew a question about this loan project, share news and photos of your own, or send a simple note of thanks or inspiration.

Loading...

Loading...

Loading...