Buying a 7-seater Suzuki tuk-tuk (minibus) for public transport
Eric
Nairobi, Kenya
100% repaid
Entrepreneur
Name
Eric
Member since
May 2014
On-time repayments
344 installments • 67%
About Me
I am a young self motivated, passionate, focused, trustworthy and hardworking businessman, I am a Kenyan living in Nairobi, passionate about job creation to the young people. I see a great future in entrepreneurship in the very near future.
Professionally: I am a Licensed Pharmaceutical Technologist, Passionate for my profession and always striving to achieve excellent pharmaceutical practice. I am a key leader for our pharmacy professional body as the National S.G.
The Practice: I am honored to serve patients from all walks of life and facilitate their access to life saving treatment and interventions at the job-level and Interactive/social-level. I got an all-round experience from Community Pharmacy Practice, Mission Hospital based Practice, Private Hospital Based Practice and Institutional Pharmacy Practice.
I enjoy meeting people and making new friends. I am a mentor too, I love inspiring others. My dream is to grow my businesses and offer more meningful job opportunities to many.
My Business
I run a cybercafe, two microbuses and two three-wheeler tuk-tuks for public service transportation which are all doing well now. I have 9 employees now and hope to expand more with this loan.
The Cybercafe business has been there since February 2014 and really shot up income-wise since investing my last zidisha loan amount in a Konica Minolta Bizhub C360 Printer and camera and after I got a strategic location that has higher customer traffic. This gives me the enthusiasm to equip it further.
Having excelled in Tuk Tuk public transport service and the spare parts garage kicking on well, I am now venturing into microbus transport services. I intend to buy one more second hand Suzuki Every which costs USD 4,500. It's a seven-seater with a daily net return of USD 15.
Zidisha can currently give me USD 2,985. I will raise the difference. (I have it ready)
I intend to use the loan to fully finance this transport business portfolio expansion venture.
In addition to my other businesses in the public transport industry and the IT/Cyber sector, the new investment in a Suzuki Every vehicle will bring in an estimated average net income of USD 15 per day at the onset.
I have repaid Zidisha Loans before and I can confirm that I will be able to repay back the loan funding in good time.
Loan Proposal
The project will cost USD 6,500 for the vehicle and a further USD 500 for start up operations.
The USD 1420 that I will get from Zidisha will supplement my available finances for the full budget.
Some of the operation costs will include transportation of the vehicle from Mombasa Port, Registration with the transport authority in Kenya.
Joining fees to the SACCO.
Income Source
I appreciate the current challenges with Covid-19 pandemic on business proceeds as I am already in business.
There are restrictions on the number of passengers per vehicle and this has been on since March 2020 when the government provided the restrictions to mitigate the spread.
Instead of 7passengers we are currently doing 5 passengers which the industry has adapted to for the time being. Theres a slight increase on passenger fairs.
With transport industry I can guarantee repayment ability despite the challenges.
Feedback
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Negative
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Loan Info
Project Type
Classic Loan
Disbursed amount
$1,406.00
Date disbursed
Jun 19, 2020
Repayment status
On Time
Projected term
7 months
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Summary
Amount repaid
$1,406.10
Amount remaining
$0.00
Date repaid
Dec 30, 2020
Status
Fully repaid
Repayment History
| Expected Payments | Actual Payments | ||
|---|---|---|---|
| Jun 26, 2020 | $54.20 | Jun 28, 2020 | $54.20 |
| Jul 3, 2020 | $54.20 | Jul 9, 2020 | $54.20 |
| Jul 10, 2020 | $54.20 | Jul 12, 2020 | $54.20 |
| Jul 17, 2020 | $54.20 | Jul 26, 2020 | $54.20 |
| Jul 24, 2020 | $54.20 | Jul 26, 2020 | $54.20 |
| Jul 31, 2020 | $54.20 | Aug 17, 2020 | $54.20 |
| Aug 7, 2020 | $54.20 | Aug 17, 2020 | $54.20 |
| Aug 14, 2020 | $54.20 | Aug 17, 2020 | $54.20 |
| Aug 21, 2020 | $54.20 | Sep 6, 2020 | $54.20 |
| Aug 28, 2020 | $54.20 | Sep 6, 2020 | $54.20 |
| Sep 4, 2020 | $54.20 | Sep 6, 2020 | $54.20 |
| Sep 11, 2020 | $54.20 | Sep 10, 2020 | $54.20 |
| Sep 18, 2020 | $54.20 | Sep 10, 2020 | $54.20 |
| Sep 25, 2020 | $54.20 | Sep 10, 2020 | $54.20 |
| Oct 2, 2020 | $0.00 | ||
| Oct 9, 2020 | $0.00 | ||
| Oct 16, 2020 | $0.00 | ||
| Oct 23, 2020 | $29.57 | Nov 6, 2020 | $29.57 |
| Oct 30, 2020 | $29.57 | Nov 6, 2020 | $29.57 |
| Nov 6, 2020 | $29.57 | Nov 6, 2020 | $9.83 |
| Nov 11, 2020 | $19.74 | ||
| Nov 13, 2020 | $54.20 | Nov 11, 2020 | $29.53 |
| Nov 29, 2020 | $24.67 | ||
| Nov 20, 2020 | $54.20 | Nov 29, 2020 | $54.20 |
| Nov 27, 2020 | $54.20 | Nov 29, 2020 | $54.20 |
| Dec 4, 2020 | $54.20 | Dec 16, 2020 | $54.20 |
| Dec 11, 2020 | $54.20 | Dec 16, 2020 | $54.20 |
| Dec 18, 2020 | $54.20 | Dec 16, 2020 | $54.20 |
| Dec 25, 2020 | $54.20 | Dec 16, 2020 | $54.20 |
| Jan 1, 2021 | $54.20 | Dec 16, 2020 | $54.20 |
| Jan 8, 2021 | $54.20 | Dec 16, 2020 | $54.20 |
| Jan 15, 2021 | $54.20 | Dec 22, 2020 | $41.26 |
| Dec 30, 2020 | $12.94 | ||
| Jan 22, 2021 | $16.62 | Dec 30, 2020 | $16.62 |
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