New car wash machine and servicing an old one

Paul

Nairobi, Kenya

100% repaid

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How it Works

Entrepreneur

Name

Paul

Member since

January 2015

On-time repayments

197 installments • 39%

About Me

I went to a primary school in a remote village in West Pokot before joining secondary school in 1994. I later joined Moi University, Coast Campus before settling on doing business.
I have been in business for sometime, I started with a chicken sales, moved into poultry then started a car wash business. This is what has brought me this far, I used my third and fourth loans to start and stabilise the carwash business by purchasing a new machine.
I have also managed to buy new tires for my cab and service it regularly because it helps me in paying Zidisha loans.
I still look forward to getting a second car through a loan. With car hire, I have been able to make up to Sh3,000 on a good day in Mombasa.
I plan to use my next Zidisha loan to put up a spirits business in Malindi and open up another carwash business in Lunga Lunga, at the border ok Kenya and Tanzania.
I know this will earn me some better income to be able to consistently service my loans.
I believe if I complete this loan then I will be able to own a fleet of cabs as time goes by.
Once again, many thanks Zidisha team.

My Business

I am happy to have completed repaying my previous loans,this my sixth loan,successfully paid.I have already rehabilitated the building where I plan to set p the wines and spirits business. It is a very strategic place and I am quiet sure I will be able to repay the upcoming loan just like I did with the past ones.
I plan to invest Sh70,000 in the opening stock and later top up another Sh30,000 to give it a Sh100,000 worth opening stock.
I plan to use the balance from the loan to do a few legal requirements, especially the paperwork. Wines and Spirits business is quiet lucrative and I believe it will subsidise my income on the taxi fleets.
business.Once again,i believe it's doable and with Zidisha, financial discipline is the order.Thanks

Loan Proposal

I will buy a new car wash machine, lease some space and also employ two people to work at the venture.
The businesses will be able to pay school fees for my evening classes.
The car wash earns me Sh2,000 ($20), per day and the cab earns me Sh7,000 per week or ($700) per week.
So far have secured space for the car wash and it will cost $100 per month. In a day, i expect to wash like 10-20 cars and will further extend services to carpet and sofa set cleaning.
I will be able to repay Sh2,200 per week to service my loan.