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Local sources of credit - Most friendly for business loan
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Silk
#11 Posted : Monday, January 24, 2011 9:44:16 PM
Rank: Member

Joined: 8/25/2008
Posts: 144
It's most difficult to obtain a loan without security. The truck might not be adequate security but if you can raise about 3m worth of security, plus the truck, might be possible.
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Tommy
#12 Posted : Tuesday, January 25, 2011 5:27:00 AM
Rank: Veteran

Joined: 12/9/2010
Posts: 894
Location: Nairobi
mmarto wrote:
Thanks guys for all the invaluable comments that you have all given. I seem to start "BIG" because the opportunity that i have requires a big lorry upcountry. The returns are handsome coz there are no guys doing that business. I plan to tranport sand or goods within 200km radius. A new isuzu seems a good option. Byheway a 2nd query i would ask is the differences between Isuzu and Mitsubishi Figther. I have quotations from the two and Fighter is higher on price. I have heared people say that Mitsubishi's are better that Isuzus. Anyone to confirm?

you have ideas but the trouble is the implementation, try and follow the idea of startin g small and growth be your aim. as for your question, i would choose mitsubishi. and i will consider importing rather than buying from show room. goodluck
Don't wait for the Last Judgment. It happens every day. ~Albert Camus, The Fall, 1956
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Ms Mkenya
#13 Posted : Thursday, January 27, 2011 9:50:18 AM
Rank: Veteran

Joined: 5/13/2010
Posts: 869
Location: Nairobi
Why don't you start by hiring a lorry and seeing how that works first?

Then you can evaluate if the business is good.
....above all, to stand.
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Wendz
#14 Posted : Monday, January 31, 2011 2:25:43 PM
Rank: Elder

Joined: 6/19/2008
Posts: 4,268
Ms Mkenya wrote:
Why don't you start by hiring a lorry and seeing how that works first?

Then you can evaluate if the business is good.



How about acting as a middle man and getting your cut and slowly, after you learn the game you will have raised some money, you will have learnt in the process and the bank may stop looking at you as a 'starter' hence "high-risk" customer?
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seeker*
#15 Posted : Tuesday, February 01, 2011 5:43:12 PM
Rank: Member

Joined: 9/11/2009
Posts: 132
Location: nairobi
consider renting a truck with the money you have,then you can asses your ability to pay back the money should you get the anticipated loan, many people go to banks with emotions instead of facts.
Don't fight a battle if you gain nothing by winning.” Erwin Rommel
When I was a child, I spoke like a child, thought like a child, and reasoned like a child. When I became an adult, I no longer used childish ways.
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mmarto
#16 Posted : Tuesday, February 08, 2011 10:48:04 AM
Rank: Member

Joined: 4/20/2010
Posts: 412
Location: nairobi
Who knows of a place i can rent a truck(s)
The only time you should be looking down on others is when you are helping them up.
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McReggae
#17 Posted : Thursday, February 10, 2011 3:52:29 PM
Rank: Elder

Joined: 6/17/2008
Posts: 23,365
Location: Nairobi
mmarto wrote:
Who knows of a place i can rent a truck(s)


....some yard around kariobangi!!!
..."Wewe ni mtu mdogo sana....na mwenye amekuandika pia ni mtu mdogo sana!".
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Rahatupu
#18 Posted : Thursday, February 10, 2011 4:18:51 PM
Rank: Veteran

Joined: 12/4/2009
Posts: 1,982
Location: matano manne
mmarto wrote:
Thanks guys for all the invaluable comments that you have all given. I seem to start "BIG" because the opportunity that i have requires a big lorry upcountry. The returns are handsome coz there are no guys doing that business. I plan to tranport sand or goods within 200km radius. A new isuzu seems a good option. Byheway a 2nd query i would ask is the differences between Isuzu and Mitsubishi Figther. I have quotations from the two and Fighter is higher on price. I have heared people say that Mitsubishi's are better that Isuzus. Anyone to confirm?
.


From my own investigations and observations (not scientific), Isuzu is ideal for sand business and more so where the terrain is not very rough. Mitsubishi do better in very rough terrain. Just look out for North Eastern lorry transport business, where Mitsubishi dominate. A driver intimated to me that Mits are more resilient and tougher. Isuzu does well in good roads.
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