Thomas used his savings and a small loan from Pearl Microfinance to purchase his first motorbike four years ago. He has been using loans regularly since to expand his fleet and pay for routine maintenance and repair costs. Now, Thomas plans to sell his oldest bike, using the proceeds coupled with this loan to purchase a new one. He figures this will increase his daily revenue from 7,000 UXG to 10,000 UGX.
Thomas depends upon his business profits to pay for his children’s school fees and provide basic meals and clothing for his family. He hopes to keep expanding his boda boda business until he has enough money saved to purchase a pickup truck for commercial hauling. He says this market has much less competition and will enable him to earn more profit.
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