Entrepreneur
Name
Philip
Member since
February 2020
On-time repayments
67 installments • 37%
About Me
I was born and raised in Turbo from a humble and a God-fearing family.I hold a Degree in Finance from Moi University.I overcame hardship through learning to be self dependent through looking for other avenues of earning income and i managed to achieve this through being self employed; starting my own business.
I started my business through my personal savings.
The unique thing about my culture is the love of unity and togetherness.My hobby is reading novels and making new friends.
My Business
My business is deals with making wood furniture for households, schools,offices,hotels,restaurant and hospitals.I started my business in 2014 when i was still in the University.These goods are in huge demand because institutions and individuals cannot do without them and are part and parcel of their daily lifes and operations.
I chose this kind of business because of its feasibility and sustainability economically.The typical costs in a month (in dollars) include costs of timber 1000 dollars ,electricity 100 dolars,labour 300 dollars,business permit 20dollars,logistics 100 dollars and miscellaneous cost of an average of 100 dollars.My gross revenue has been averaging 3200 dollars per month.
I use the profits to pay school fees for my siblings,their upkeep and also reinvesting in my business.
Loan Proposal
I will use this loan to add timber stock for my business.This will enable me make more furniture to serve the current orders and make more items readily available for my clients.
Income Source
i currently have huge orders and most of my customers have made deposits.I am therefore certain that these items in order will be paid for .I also have other sources of income .
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Loan Info
Project Type
Classic Loan
Disbursed amount
$431.00
Date disbursed
May 22, 2020
Repayment status
Late
Projected term
14 months
Other loans
Lenders
Southampton, United Kingdom
Houston, United States
New Brunswick, Canada
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