Philip Kibiwott Chelilim
67 weekly installments • 37%
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 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.
I want to buy more timbers for my business to make more furniture.This will make the items readily available and also boost my earnings by about 10%.
Beside my current business,i am employed and am working from home and am also being paid.In addition i have received huge orders especially for hospital bed and they will pay me a down payment as soon as i make the first 15 beds.Therefore i am confident of repaying my loan without much difficulty.
Apr 14, 2020
Cost to entrepreneur
Service fee: $26.76
Credit risk payment: $34.78