Furniture Company Seeking Loan in Malé, Maldives
Wooden furniture business in Male seeking business loan to regain losses from supply boat incident.
| Established | 5-10 year(s) |
| Employees | 2 - 5 |
| Legal Entity | Private Limited Company |
| Reported Sales | USD 235 thousand |
| Run Rate Sales | USD 132 thousand |
| EBITDA Margin | 25 % |
| Industries | Furniture |
| Locations | Malé |
| Local Time | 9:19 PM Indian / Maldives |
| Listed By | Business Owner / Director |
| Status | Active |
Seeking Loan
USD
58 thousand
for
10.5%
annual interest,
5
years
(Native Currency: MVR 900,000)
Reason: Seeking funds to regain the loss and working capital, which incurred due to an unexpected incident w...
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Collateral Available: USD 0
Includes physical assets worth
USD
32.4 thousand
Name, Phone, Email
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Business Name
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Business Overview
- Company offering customized wooden furniture, based in Male.
- Our products include cupboard, racks, dressing table, doors etc.
- Majority of our clients are residential, we also get a few commercial orders, who are retail stores, restaurants etc.
- We get ~ 30 to 40 orders per month. Average order value MVR 4 k to 5k.
- Additionally, we also provide supply boat services which we supply construction materials to resorts in islands.
- We don't get these orders on a monthly basis, but average order value is MVR 150k.
- Our turnovers for this year have dropped compared to last year because one of our fully loaded supply boat hit a reef and we lost almost MVR 500,000 worth goods and total loss above MVR 1 million, which caused a total business shut down for more than 2 months.
- However, due to the incurred loss, we couldn't take up supply boat orders, as we don't have the working capital.
- Our products include cupboard, racks, dressing table, doors etc.
- Majority of our clients are residential, we also get a few commercial orders, who are retail stores, restaurants etc.
- We get ~ 30 to 40 orders per month. Average order value MVR 4 k to 5k.
- Additionally, we also provide supply boat services which we supply construction materials to resorts in islands.
- We don't get these orders on a monthly basis, but average order value is MVR 150k.
- Our turnovers for this year have dropped compared to last year because one of our fully loaded supply boat hit a reef and we lost almost MVR 500,000 worth goods and total loss above MVR 1 million, which caused a total business shut down for more than 2 months.
- However, due to the incurred loss, we couldn't take up supply boat orders, as we don't have the working capital.
Products & Services Overview
Customized wooden furniture such as cupboard, racks, dressing table, doors etc.We have both residential and commercial clients.
Additionally, we also provide supply boat services which we supply construction materials to resorts in islands.
Assets Overview
Physical assets include furniture, machinery, tools and stock.
Facilities Overview
Rented workshop and office facility, located in Male. Has 2 floors - (ground + 1). Rent is MVR 14k per month.
Capitalization Overview
The business is self-funded.No outstanding loans or debts.
There are 2 directors, holding ownership of 99% & 1%.
Recent Activity
-
Earlier than 15 daysMD, Kochi, Financial Consultant connected with the Business
Tags:
Office Furniture Wholesale Company Seeking Loan in Malé, Maldives
·Lend to Office Furniture Wholesale Company in Malé, Maldives
·Children Furniture Company Seeking Loan in Malé, Maldives
·Office Furniture Company Seeking Loan in Malé, Maldives
·Lend to Children Furniture Company in Malé, Maldives
·Lend to Office Furniture Company in Malé, Maldives
·Furniture Company Seeking Loan in Malé, Maldives
·Office Furniture Wholesale Company Seeking Loan
·Lend to Furniture Company in Malé, Maldives
·Lend to Office Furniture Wholesale Company
·Children Furniture Company Seeking Loan
·Office Furniture Company Seeking Loan
·Lend to Children Furniture Company
·Lend to Office Furniture Company
·Furniture Company Seeking Loan
·Lend to Furniture Company
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