Business Moto vehicle mechanic
Loan request 500 000 UGX (€ 120)
Loan Term 1 year
Age 22
Family Single
Funded 0%

Business

Fransis is the son of John, one of CML´s first clients.  One time when John was visiting CML, he noticed a garage with car mechanics that operated opposite the office.  Since he knew that Fransis wanted to become a mechanic, he brought him to that garage. And after three years of training with experienced mechanics, Fransis could start his own business. Today he still operates from the same garage and serves between three and five cars per day.

In the future, Fransis wants to operate his own garage. He is already saving money in order to realize his dream and the goal is to have the garage open in less than five years.

Loan purpose

Not every mechanic in the garage owns all the tools that are needed. Renting out tools is therefore an extra source of income. Fransis needs a loan in order to buy a toolbox. The toolbox will be a necessarily thing once he has his own garage and in the meanwhile it will increase his income.

Loan history with CML

Period

Loan size

Loan term

Repayment history

2015

500,000 UGX

6 Months

Yes

2016

500,000 UGX

6 Months

Yes

 

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