Trade in my car for a better one
Patrick
Nairobi Umoja Estate, Kenya
100% repaid
Entrepreneur
Name
Patrick
Member since
February 2014
On-time repayments
124 installments • 66%
About Me
My name is Patrick Nduati Karanja.l am 40 years old and married with 2 kids.My son Adrian is turning 5 years next month and I have another son who's two weeks old. l live in umoja estate in Nairobi,kenya.l am a businessman and i hire tents and plastic chairs for events.l also have 2 cars that operate as taxis.l was raised by a single parent,my mum.l am the first born in the family of four and my two sisters live abroad,in Germany and Netherlands.l live with our last born sister as my mum is deceased.l have always been business minded since i was a little boy and i enjoy being independent.l pay my rent,pay bills and proide food and clothing for my family.l always thank God for what i have.
My Business
l have 4 tents and 350 plastic chairs which i hire out.l hire out the tents from $20 -$40 per tent per day and $1 per 10 chairs per day. This business is usually good between Friday and Sunday when most people are having events such as weddings and and other social gatherings. l get between $40-$50 per week.
I am also in transport business where I own two cars that I use as taxis to ferry people for short distances within the city of Nairobi. I make a total of about $60 per vehicle per week after all expenses are paid. I am glad I am doing relatively well in both business but challenges still abound especially in the transport business. From tire replacement, insurance cover and general maintenance - all these keep me on my toes all the time.
I am glad that since I joined Zidisha over a year ago, the loans I have been getting have eased these pressures significantly. Hopefully, with more credit, I will be able to secure financial freedom that I so much desire.
Loan Proposal
I will use my loan to add money to buy a better car just as I did with the other one in order to keep up with my competition.l am doing this to get better service and make work easier for my drivers buy attracting more clientele thus increasing my profit .l am planning to use 845 dollars to do this so that I can get the best car possible.l already have a willing buyer who is a taxi driver and we have already agreed on the price and so I will immediately start looking shopping a car as soon as I get the loan.l am sure it will go smoothly just like the other one.
Feedback
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Loan Info
Project Type
Classic Loan
Disbursed amount
$849.00
Date disbursed
Oct 9, 2015
Repayment status
On Time
Projected term
5 months
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