Summary of Financial Needs

To make sure that this business will move to fruition, we are planning to apply for
financing. Since the materials of the product that we want to make is expensive and needs proper
care to collate, PHP 96,000.00 is the starting capital we planned to collect.
Within this capital are the following production costs all throughout the production of our
product. PHP 25,000.00 for the Raw Materials, PHP 10,000.00 for the Rent and another PHP
10,000.00 for the Legal Fees, PHP 4,000.00 for the Logo, Bottles, and Boxes, and another PHP
4,000.00 for the Wages and Labor, with PHP 3,000.00 on the fees for License and Permit.
However, if each owner can provide their bank savings and on-hand cash then there is no
need for financing. Since we are eleven (11) owners in this business, we can collect PHP
8,730.00 from each other to suffise the amount needed for the starting capital.
Additionally, since this product is in-demand due to the ongoing pandemic, we can also
seek for business partnership and collaboration with other business of this kind. These are the
reasons for us not applying for financing.