When we decided to expand JobSearch by building its own office with training space, we knew we would have to borrow the funds, as we did not have a building fund.
GTBank, our primary bankers, agreed to lend us over Le420m in April 2018, payable over 18 months. The initial moratorium was three months and was extended by a further three months. The total interest on the loan was over Le75m.
When we moved into the office our costs increased significantly. Our staff strength grew from two to six and we had overheads. The last six months were a struggle, but we remained focused and continued to grow our revenue.
Today, we made our final loan payment to GTBank and can now work towards completing outside works and interior decor.
If we had to do it all over again, we would. No regrets! Building our office was the right decision for JobSearch.
Thank you to everyone who supported us on our journey. God bless.