2021 inventory

Victor

Abuja, Nigeria, Nigeria

100% repaid

Follow Victor

How it Works

Entrepreneur

Name

Victor

Member since

November 2019

On-time repayments

51 installments • 49%

About Me

My name is Victor Mshelia, a Nigerian, an Architect and interior designer and have great passion for architecture and interior. I am married with 2 kids and work in the private sector. I have a Master of Architecture (MArch) degree from the University of Lincoln, UK.
I am permanently based in Nigeria's capital city; Abuja.
I lost both of my parents to cancer within a span of about 3½ years (2015-2019). I count my loses of loved ones, but I am motivated to do more for humanity, hence looking forward to partnering and funding cancer research. it's a fight we MUST WIN.

My Business

I work with an Architecture & Construction company; OH&S LTD, with a monthly income of N150,000 (approximately $417 USD).
I am also into interior design and furniture business as an alternative source of income. I have a vision for my interior & furniture business to become a household name in that sector.

Loan Proposal

The 2020 #EndSar protest in Nigeria has greatly affected the demand and supply chain of raw materials in so many sectors of the economy, with quite a number of sectors yet to bridge the supply gap created as at January 2021. The furniture industry is one of such, with MDF, HDF and MFC boards still in short supply. The loan is intended to stock production raw materials, just as I did with the last loan and was indeed a great success.

Income Source

Following the resultant effect of the COVID 19 lockdown that affected my business, I had to restrategize. One of the steps I have taken is to have open ended as well as fixed tenure portfolio investments for the business, where by 40% of profit from sales is placed into the portfolio investments. These is meant to serve as a reserve for the business, a risk mitigating mechanism and a growth potential capital for future expansion. Having done that, repayment for short term loans will continually come from proceeds of weekly sales.