Meet our borrowers: Gypsum Masters Co. Ltd
23 Jul 2020
Local SMEs are essential to the economic growth of the country. The diversity of sectors is a reflection of the creative and entrepreneurial dynamism in Mauritius.
Gypsum Masters Co. Ltd, one of those SMEs, specialized in interior decoration, partitioning, false ceilings solutions and electrical services.
Jiteshsing Beeharry, along with his wife, founded the company and they were comforted in their endeavour when they had their first big projects: Shell and Chicken Inn in Flacq. This was the turning point of the company and as from then they kept moving ahead.
Last year, they successfully completed big projects for Le Meridien, Marina Village Hotel and Endemika among others. Today, they have multiple projects in the pipeline: Serenity Villa, Old Mill Villas, renovation of the Municipality of Quatre-Bornes.
With their 40 employees and 30 sub contractors, they are today known for delivering quality on time with client satisfaction.
The Covid-19 pandemic has shaken up many of our local businesses.
The working capital of Gypsum Masters was thus severely impacted by the lockdown. They approached Fundkiss in order to raise MUR500,000. Working capital is essential to cover the operational needs of a business. It allows a business to enhance its solvency by meeting short-term expenses (purchase of raw materials, payment of salaries, overhead expenses), to increase its goodwill as the regular expenses and payment of salaries are met on time, to have an uninterrupted supply of raw materials, to improve their ability to face any crisis and ensuring that financial emergency can be handled with ease.
“During the lockdown, we ran short of working capital and to be able to resume our work serenely, we approached Fundkiss and we got funded in less than a week.” Gypsum Masters.
The process of lending on Fundkiss is simple, fast and transparent with an analysis of the project and a decision taken in less than a week.