324 installments • 93%
I am the second born son in a family of four. My younger two siblings are girls whom we used to cook for with my older brother as our parents went to work.
I was brought up in a tiny village Central Kenya, Mount Kenya region.I started basic education in a local school and cotinued to primary education. As young boys i recall as we went swimming in a river that flows down deep ridges and our parents got worried very much.
Later i went to Thika town for my secondary education at Thika High School.
Later i went to study Aircraft Maintenance course in our city Nairobi at Wilson Airport and got a certificate in engine & airframe.While there i also studied Electrical science. I got employment in a local maintenance firm that later collapsed. From there i started vending fresh vegetables at Wangige Market near our city Nairobi.
At Nairobi life wasn't easy at all. At some point i decided to live in the slums because good rooms were so expensive to rent. So i moved to Dandora slums. I even went a step further to walking half distance to work and half by bus to save some cash.
In early year 2015 i felt it was time to be an entrepreneur because i was still struggling for my needs. I had enough skills so retreated back to the village where my Mum gave me a small room to establish a workshop at home. Life was so hard trying to establish myself until ZIDISHA came to my rescue where i got a loan to rent a big workshop in our local shopping center where i have grown steadly. Thanks to all Lenders.
Every year i pay 70 USD to our local county authority for business licence and a monthly rent of 70 USD. I also pay 170 USD per week to wages of my employees.
I do re-invest my profits in my business, support to my parents and my siblings,also community projects contributions and also buying construction materials for a rental house i keep on developing and adding more units. I also support two elderly women who are about 100 yrs old by visiting them regularly. Of late am also supporting an old Man, a war Veteran through food stuff. I love caring for the needy.
My business operates under the name Jaycobs Electric & Building Services. I operate a workshop and a sales section where we sell electrical fittings, lightings, conduits, electronics repair, and offer consultations.
In the workshop we do electrical and electronics repair, mechanical repairs and installations.
In average we make a monthly profit of 700 to 900 USD.
The first thing I will do with the loan is to purchase a power drill. This is after I lost a client who wanted me to fix an LCD TV on his sitting room wall. I had no tool to drill holes on the concrete wall. This will cost me around 65 US DOLLARS.
Secondly I will consider travelling to Nairobi my capital city to purchase components in wholesale prices. With the loan i will be able to meet the number per order for me to get a wholesale price. l will purchase Transistors, Range of resistors, capacitors and ics. This will cost 30 USD
I will also purchase a big fibreglass tool box which can be safely fixed on a motorcycle. I have a small plastic one that doesn't fit my tools loosing some whenever am riding off road. This will cost 56 USD. I will use the remaining cash to print out some business cards as a way of selling out my services. This will give out my contacts to many people.
Since many people are settling in my neighbourhood, one way make them know of my workshop is through contact cards.
Am hoping to benefit very much from this loan now and days to come in order to achieve my goal of even higher loans to elevate my business high.
Jan 2, 2016
Cost to entrepreneur
Service fee: $6.24
James opted to pay $41.47 into the Zidisha Members Loan Fund in return for a higher starting credit limit.