I have a sponsor abroad who has been taking care of my education costs, i now asked him for a business loan of 200000, because i want to buy a taxi for business valued at 400000, i told my sponsor i could get a loan from the bank for 200000. and he asked me to give him proof that a bank, another lender or the car company were willing to loan me the 200000 and also the terms for repayment.
I wanted to put my existing business as collateral for the bank loan but it has been valued at 50000, which is too little for the 200000 loan i need.
does anyone have advice to give me?
I wanted to get an agreement with a car company or anyone who sells cars for an agreement that he will give me the car with a downpayment of 200000 then the 200000 to be paid on agreement.
or
get a bank statement from someone who already has the 200000 so i can send to my sponsor then he gives me the remaining 200000 and i use this amount to get the 400000 loan

am sorry if the post is too long.

I agree with @Wanjiru above
If you can, please avoid Taxi/car hire espacially if you plan to invest via loaned cash. You might burn your fingers badly. And i always insist,if you will not personally be the one to run the carhire business or taxi..please think deeply before you invest,it's a tricky market!

loaned cash is tricky..very tricky..unless you are passionate on taking high risks

three words for you abt car hire/taxi business- AVOID, AVOID, AVOID. very very tricky