Timber supply

Idembula

Eldoret - Huruma Estate, Kenya

55% repaid

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Entrepreneur

Name

Idembula

Member since

January 2014

On-time repayments

54 installments  •  7%

About Me

Hi, my names are Idembula Titus, I am techprenuer in the making trying to find my ground on the internet business in Kenya. I am the author of writers-Kenya.com. An online blog that is committed to teaching freelance bloggers how to make money online. I have been working online for the last two years and I can brag of helping about 100 people make money online in Kenya.My dream has been to teach freelance writers make a living online in Kenya.I bought the computer am using through the money I earned from my online business.
I am the owner of Bula Enterprises (K) ltd a construction company that deals with General construction and supplies in Kenya.My company is located in Uasin Gishu County Eldoret Town Co-operative Bank building 2nd floor Ronald Ngala street Riftvalley province in Kenya, and my address is C/o Idembula E. Titus Director, M/s Bula Enterprises (K) Ltd. P/o Box 6152-30100 Eldoret (Kenya).

My Business

My blog has free space where I offer advertising space for potential customers.through this I have managed to feed and cloth my family, pay my bills and paid for my child's school fees.I have been hired by many clients to rewrite their articles and this has also given me some cash although not enough to let me quit my day to day job.I make close to $300 online and this money after all expenses are deducted I remain with very small amount that I can not use to expand my business to what I want it to be.I do top it up with my monthly salary which again is not that big. but, at the end of the day, I thank God I have an online business running.

Loan Proposal

use the loan to buy fuel to use for my power saw for timber harvesting and log felling so as to supply them to my customers.
If my proposal is accepted and given the money,I will make sure that my customers are satisfied.Please help me buy petrol for my project.

Feedback

None

None

None

Loan Info

Project Type

Classic Loan

Disbursed amount

$50.00

Date disbursed

Nov 28, 2014

Repayment status

Late

Projected term

13 months

Lenders

McJulio

New Jersey, United States

Franmiguel

Perth, Australia

Ask Idembula 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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  • Franmiguel    Dec 17, 2015

    Hi Idembula,
    Happy Holiday Season to you.
    I hope things pick up for you and that you have a great 2016.
    Regards
    Michael

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  • Idembula    Jul 31, 2015

    business failure

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  • Franmiguel    Jul 28, 2015

    Hi Idembula,
    I haven't heard from you for a while, I just thought that I would touch base and see how you are doing.
    I hope that all is well.
    Regards
    Michael.

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  • Franmiguel    Jun 24, 2015

    Hi Idembula,
    I just thought that I would touch base and see how you are doing.
    I hope that all is well.
    Regards
    Michael.

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  • Idembula    Apr 29, 2015

    i am not working

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  • Franmiguel    Mar 16, 2015

    Hi Idembula,
    How you are doing?
    I notice that you have made another payment, thank you very much for that.
    Have you been able to find another job?
    Regards
    Michael

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  • Idembula    Feb 24, 2015

    I have no business now.things are hard for me now to raise any money.

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  • Franmiguel    Feb 14, 2015

    Hi Idembula,
    I thought that I would just say Hi and see how you are doing.
    Have you been able to find another job since the government stopped tree felling?
    Regards
    Michael

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  • Idembula    Dec 29, 2014

    @mcjulio, @Franmiguel thanks for your understanding

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  • McJulio    Dec 28, 2014

    I also have no concerns about rescheduling the loan and like Franmiguel says you should do it officially. When the situation changes you can always change the payment schedule again or just make larger payments to pay the loan off earlier.

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  • Idembula    Dec 28, 2014

    my business has collapsed.the government of Kenya has since stopped tree felling in the government forest where i was getting trees to split timbers. if given time i will clear my loan.kindly reschedule it for me.am ready to start from 3/1/2015. the reason the government stopped tree felling in the government owned forest is because some forest officers were extorting money from people illegally.
    currently as it stands, buying trees from private farmers is very expensive. we have been promised by the local authority that the Government will give us priority who were affected by the sanctions as timber suppliers.

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    • Franmiguel    Dec 28, 2014

      Hi Idembula,
      I am sorry to hear that you are unable to continue with your business.
      I am not sure how a borrower goes about rescheduling loans, although it appears that you have already accomplished it.
      May I say this in regards your business, not as one of your lenders, but as a businessman.
      The loan was taken to purchase fuel for your power saw.
      If you are unable to use your saw, I would suggest that any money not yet spent on fuel be repaid.
      This would be advantageous for you in 2 ways:
      1. you will not be paying interest on the money which is not being put to productive use.
      2. you will protect your reputation (your Repayment on time score).
      Payment history is one of the key criteria used in evaluating a loan application.
      The higher your score, the easier it will be for you in future loan applications, be them through a bank or a micro-finance lender.
      I know that there are probably other considerations that I know nothing about - including the cost of the application fee having been paid without delivering any benefit - but sometimes there are unforeseen circumstances that impact a business negatively, and one must look for the best path forward.
      I commend you on being open and honest in your communications and I wish you all the best in working through this difficult time in your business.
      Regards
      Michael

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  • Franmiguel    Dec 27, 2014

    Hi Idembula,
    I am sorry to hear that business is tough at the moment.
    I certainly do not have concerns about waiting until conditions improve.
    As a Lender, I am not sure how you reschedule your repayments, but I would suggest that you do so officially.
    Keeping your On Time Repayment Score as high as possible will have a large impact on your ability to take further loans.
    All the best and I hope things pick up quickly for you.
    Regards
    Michael

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  • Franmiguel    Dec 26, 2014

    Hi Idembula,
    Happy Holiday Season to you.
    I hope you and your business have a great 2015.
    Regards
    Michael

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    • Idembula    Dec 27, 2014

      Hi Fran ,
      happy season to you, mine isn't well.
      well things have been hard on my end. I was conned by my business rival and am now grounded.Hope you give me time I will get back to you soon once things pick-up for me.
      Thanks.
      Idembula

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  • Ben    Feb 5, 2014

    Hi,any problem in filing your form plesae contact me

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