Funding for acquiring a sublimation mug heat press machine
Brian
Ndenderu, Kenya
37% repaid
Entrepreneur
Name
Brian
Member since
April 2015
On-time repayments
107 installments • 14%
About Me
I graduated and got a job at an IT firm in Nairobi. After a while I got a different job promising higher wages. I worked there for precisely 1 year and was "regrettably let go". Their words, not mine. The company needed to cut back on expenses and well there I was. A friend got me to partner with him on a deal to print 100 mugs for a small company. He had no idea where to start so he asked me for help. I had no idea how a mug printer looked like let alone where to get it. I did not divulge this information though. What I did tell him was to give me three days and I will come up with a quote and when to collect the finished product. Three days and a handshake later, I had for the first time a cheque written in my name. And it wasn't a gift.
From then on I have never looked back. I look for an order that I can manage and get it done. I have a partner who agrees to let me use his printer for a fraction of my profit. I have on several occasions asked to buy his machine but he is rather reluctant to say the least.
It hasn't been smooth sailing but for the most part I like where it is headed and sooner or later the business is bound to thrive.
My Business
I have been printing custom designs on mugs for the past 6 months and selling them to supermarkets. I have also been doing custom designs on request. At the moment I do not have a mug printing machine and as a result I am losing quite a chunk of my revenue on hiring the printer on a demand basis. This means that it is difficult to meet orders that require me to supply before payment as the equipment lease has to be paid for first. Availability is also not guaranteed and I cannot be aggressive in looking for new clients or large orders. I wish to expand and be independent.
Loan Proposal
I would like to buy a heat press machine from
http://www.alibaba.com/product-detail/print-inner-color-coffer-mug-by_1657031682.html?s=p
The price is at USD 80 excluding shipping which will cost me the remaining USD 20.
Buying this machine will increase my income as I am currently leasing out a machine from someone else. It will grant me independence and the increased revenue will allow me to expand and buy more equipment.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Apr 20, 2015
Repayment status
Late
Projected term
24 months
Lenders
United States
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