2021 inventory

Victor

Abuja, Nigeria, Nigeria

100% repaid

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.

Feedback

None

None

None

Loan Info

Project Type

Classic Loan

Disbursed amount

$85.00

Date disbursed

Jan 10, 2021

Repayment status

On Time

Projected term

6 weeks

Lenders

A

Anninymouse

Southampton, United Kingdom

sderickson

Berkeley, CA, United States

S

Stephan

Netherlands

JL

Joao Leal

United Kingdom

Dave Bogard

New York, United States

MW

Matt Willis

United States

moursund

Beaver Nation, United States

C

cota

United States

ME

Manaal Eisa

Washington DC, United States

F

Frits

Rotterdam, Netherlands

HCPSPIRIT

Helsinki, Finland

hervey liu

United States

Dean Suminski

Portland, Oregon, United States

BN

Brian Neilon

United States

CN

Craig Newmark

United States

AM

Andy Marston

United Kingdom

E

EJOBIV

United States

We Not Me

St. Paul, Minnesota, United States

C

Charles

Australia

JP

Jesus Pizarro

United States

Andrew

United States

JB

Juan Busco

United States

J

John

Germany

GR

Gabe Radovsky

United States

T

Timo

Germany

Ask Victor a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.

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  • Hassan    May 1, 2021

    He is not answering, but patience his wife said she will inform him

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  • Victor    Apr 4, 2021

    This is to convey my appreciation to all my lenders for being part of the success story of my business. The loan is intended to complement the financial resources at hand to enable me stock more raw materials for an uninterrupted furniture production, this is because rising inflation in Nigeria affects the cos of materials and resulting in uncontrolled rise in material cost at the supply markets. Thanks you once again.

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  • Victor    Apr 4, 2021

    With the rising inflation in Nigeria, prices of material needed for our furniture work are continuously on the rise and sometimes the materials are not readily available. Stocking inventory has been a strategy I've employed to mitigate the effect of the inflation on my production. The last loan helped to achieving that successfully.

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  • Hassan    Mar 6, 2021

    His spouse promised to let me know

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  • Victor    Jan 9, 2021

    To all my LENDERS, I say thank you for being supportive towards the growth of my business and believing that I can. The loan will be additional funds to money I have to purchase MDF, HDF and MFC boards for furniture production. Thank you.

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  • Victor    Jan 7, 2021

    The last loan taken was to aid in the purchase of materials to stock up raw materials. As a result of the #endSars protest that took place in Nigeria, it affected the movement of good from the ports up Northern Nigeria, hence creating scarcity of raw materials. The step taken greatly had a positive impact on our production and timely delivery of finished products.

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  • Victor    Dec 3, 2020

    Thank you Gregory, Jim and Jill. I really appreciate the business support.

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  • Victor    Dec 2, 2020

    The COVID-19 Pandemic took a hard turn of a lot of business, mine wasn't an exception. However, business has bounced back and the Christmas season is bringing in more sales. This loan is intended to procure wood & boards, being raw materials for our works.

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  • Oluwashola Emmanuella    Oct 14, 2020

    Patience Mshelia,the wife,said that the husband has been down health wise for a while now,but that she'll talk to him when he returns.

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  • Okwukwe    Sep 9, 2020

    I called the applicant he said that he travelled yo his village for his uncle burial, and that there was no network in his village, but that he is going to make some repayment at the end of today

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  • Victor    Jul 16, 2020

    Business is yet to pick up well after the COVID 19 lockdown.

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  • Okwukwe    Jul 1, 2020

    The applicant phone number is switched off, so I called one of his references which happens to be his wife in the person of Patience Mshelia, and she told me that her husband went for burial at his village and that there is no network there, that when he comes back she will let him know zidisha called.

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  • Victor    May 10, 2020

    Due to the COVID 19 lockdown in Abuja, Nigeria, my sources of income were closed for 5 weeks and so had within the 5 weeks, remained without a source of income. Businesses are just got the nod to begin operations.

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  • Benjamin    May 4, 2020

    Victor apologized for the late repayments, says it was due to the outbreak, promises to make a full payments once its over

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  • Victor    Apr 28, 2020

    The COVID 19 Pandemic which resulted in the lockdown of offices and business and restriction on movements for the forth (4th) week running now in Nigeria's capital Abuja in the Federal Capital Territory, resulted in NO SALES or business transactions. This has caused untold negative impacts on my business and all sources of livelihood. I WILL STILL APPEAL WITH ZIDISHA TO CONSIDER THESE IMPACTS ON BUSINESSES AND SOURCES OF INCOME AND GIVE AT LEAST THE GRACE OF A MONTH. This plea is so because even if the restrictions on businesses and movements are lifted in a week from now, IMMEDIATE SALES OF GOODS AND SERVICES ARE NOT GUARANTEED TO BE IMMEDIATE. ZIDISHA as a lending platform MUST really consider the plight of its customers/clients, especially if their records are clear that prior to the COVID 19 pandemic, the customers have a good repayment record or the ZIDISHA standard of having 90% on-time repayment record. I look forward to positive and considerable responses from the ZIDISHA platform and LENDERS TOO.
    Thank you.

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  • Victor    Apr 5, 2020

    Following the COVID-19 pandemic, certain measures taken by government has affected businesses and movements; those of us resident within Abuja in the Federal Capital Territory (FCT) have restrictions on movement with instructions to stay indoors. Further more, I had earlier presented a Bank Cheque for clearing at my bank but was told that the Central bank of Nigeria (CBN) had suspended clearing of cheques hence my cheque cannot go through to the clearing house at the moment. While I am making efforts to see how I can raise money to follow through with my payments, I will plead for some little time and understanding from Zidisha. In the mean time, I have been forced to close down my business operations in compliance with the government directives to stay home to prevent spread of the COVID-19 and keep social distancing. Thank you.

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  • Benjamin    Apr 3, 2020

    Victor said his cheque was not cleared at the bank according to CBN directive. He said he is trying to source money from other places, that he needs a little time

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  • Victor    Mar 7, 2020

    Through Zidisha lenders, my business experienced about 14% increase in sales in the last 3 months.
    This loan is purposed towards sustaining the continues growth by acquiring more working machines that will enhance quality of the work and timely delivery.
    Thank you Paul Buchheit and Daniel Kalla for being supportive via the loan.

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  • Victor    Mar 6, 2020

    Zidisha loans through my LENDERS has really helped the growth of my business, having acquired some tools & machines which has really enhanced our production, quality of finishes and timely delivery. Our sales in the last 3 months indicates about 14% increase in sales. There is no stopping now, with more machines, I am optimistic that more can be achieved.

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  • Victor    Mar 6, 2020

    Working machine purchased, partly funded by loan from Zidisha.

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