Making hospital beds

Philip

Eldoret, Kenya

100% repaid

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 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%.

Income Source

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.

Feedback

None

None

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Loan Info

Project Type

Classic Loan

Disbursed amount

$297.00

Date disbursed

Apr 14, 2020

Repayment status

On Time

Projected term

4 weeks

Lenders

B

Bpryse

Long beach, United States

MarktheMormon

Sandy, Utah, United States

MindMuse

Talking Rock, United States

Treesforpeople

Oxfordshire, United Kingdom

Paul Buchheit

Mountain View, United States

V

Vivek

Arlington, VA, United States

P

PeterP

United Kingdom

Vratik Krocik

Prague, Czech Republic

M

Margaret

United States

S

SD

Japan

M

Mary

United States

T

TP

United States

Nick Studenski

Minneapolis, United States

J

Netherlands

DD

Dixie Davis

Kyle, United States

Frosty

North Pole, United States

Sayuri

United Kingdom

Maria Lawler

United States

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  • Philip    Aug 4, 2021

    Performance of business is very low and the sales are not picking. The repeat customers have financial challenges partly occasioned by Covid-19 and its containment measures put by government which has slowed down the businesses.

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  • Justus    Jul 14, 2021

    Philip has promised to make repayments as soon as possible

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  • Philip    Jun 16, 2021

    Business has been very bad...little or no revenue due to the pandemic.

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  • Philip    May 10, 2021

    Low business, affected by Covid-19 pandemic

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  • Hadija    Apr 26, 2021

    I spoke to Philip, he's told me he relocated hence the slowed down repayments but he'll resume repaying from tomorrow.

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  • Philip    Apr 8, 2021

    Covid-19 pandemic effects

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  • Philip    Mar 1, 2021

    Low income from the business.

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  • Philip    Feb 7, 2021

    Low income

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  • Patrick    Jan 8, 2021

    He has requested for two more weeks to continue servicing his loan on weekly basis without fail.

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  • Philip    Nov 24, 2020

    Poor sales due to COVID-19 pandemic.

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  • Philip    Nov 6, 2020

    Very low sales due to covid-19 pandemic

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  • Philip    Sep 23, 2020

    Due to the Covid-19 challenges, the sales are very low and business recovery is very slow.

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  • Rebecca    Sep 21, 2020

    I was able to speak with Philip he said his situation has not improved yet he promised to resume making payments once hes able

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  • Rebecca    Aug 21, 2020

    Philip said his business has not improved, he promised that he will resume making payments once hes able to

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  • Philip    Jul 14, 2020

    COVID-19 has taken a tall on the business and sales have reduced significantly.

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  • Rebecca    Jul 3, 2020

    Philip said his business is not doing well at the moment, i advised him to reduce his weekly payments to an amount he can afford, he promised to do that as soon as possible

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  • Philip    Jun 14, 2020

    I have a low cash flow at the moment.

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  • Philip    May 22, 2020

    Thank you so much Madam Margaret,you have put a smile on my face.I will buy timber for my furniture.

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  • Philip    May 21, 2020

    With the loan i receiced ,i bought timber for my business and my earnings increased by 7%.It also enaabled me meet the demand at that time.Thank you

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  • Philip    Apr 14, 2020

    Thank you so much dear lenders. I will use this loan to buy timbers for my furniture. It will help me serve my customers to their satisfaction.

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