This is 24 year-old Philip. He is single, and has one child aged three years old. In 1996, Philip established his balusters, files and blocks business. He began his business because he found it difficult to continue his schooling. He decided to join his elder brother in the production of bricks and balusters for sale until he became financially strong enough to establish his own shop.
Working seven days a week and 12 hours a day, he earns about SLL 1,559,000 every month from this business. He would like a loan in the amount of SLL 4,000,000. Philip has already received and successfully repaid one loan. He now requires a new loan in order to purchase: cement (50 bags @ SLL 44,000); iron (30 pieces @ SLL 15,000); and sand (20 trips @ SLL 60,000). The balance amount would be for transportation. He hopes that this loan will enable him to increase his monthly profits by approximately SLL 750,000.
In the future, Philip plans to build a house and further his education. He is nervous about the future because he wants a better standard of living. The loan will help a lot as it is his secondary source of income. His major challenge is high taxes levied by the local district council. Competition is not too high, as two businesses are dealing in the same product. He serves contractors and individuals involved in construction and he serves about 10 customers per day. Philip offers a quality product; that is why his business is popular. His suppliers are located in Makeni. He usually buys his goods twice a month by public transport. He saves some and the remainder to add to the capital of the business. He is planning to expand if he has the resources to so. He thanks you for your support.
About the Association or Rural Development
The Association for Rural Development (ARD) is one of the leading microfinance institutions in Sierra Leone. Established in 1989, ARD has offered individual and group loans to support small-scale businesses across the country for two decades. You can learn more about ARD on its partner profile page, support the organization and its staff by joining the ARD lending team, or lend to another one of its borrowers currently raising funds on Kiva.