Entrepreneur
Name
Jacob O'nyamul
Member since
February 2015
On-time repayments
335 installments • 65%
About Me
My names are Jacob O’nyamul. I am a married man aged thirty two years old. I was brought up by a Christian father and mother in a rural home in Siaya, Kenya. My parents were very poor and this forced my father to migrate to the capital city Nairobi in search for a job as we were left struggling with life in the rural. The little income he got sustained us a bit as I and my siblings were able to go to school. Unfortunately my father was attacked by thugs who ended his life at a building that he was guarding having been a security guard.
Being the firstborn in our family I had to put on my father’s shoes by struggling to become family’s bread winner. My mother was a housewife, I was not yet 20 and my siblings were very young and needed to go to school. I was determined to uplift our family despite of the challenges. I got a job with a Christian organization though at a voluntary level, I thank God I am able to get some stipend. Because the income was very small to cater for my family, siblings and mother’s expenses I started a small grocery shop with the help of cash savings received as gift on my wedding day. We’ve been working together with my wife as managers of our small investment.
We are blessed with two children (Blessings Akinyi))who is about one year and eight months old and Alma Oduor who is two weeks old; it’s our desire to train them in a godly way so as to help them overcome worldly influences when they grow up. In our culture when a man marries a woman he must pay dowry, normally in form of cows. This has been a great challenge to most of poor young men who wants to marry in the Lord.
I am a saved Christian and an evangelist, I love reading the Bible and spreading the gospel. God has been so faithful to me and my family. When I look at my life I do acknowledge the great work of God.
My Business
The name of my business is Baraka (Swahili name meaning ‘Blessed’) grocery shop. I do sell groceries mostly food items which we buy from wholesalers and break them in small quantities for the consumers.I am planning to add dairy business of selling milk in addition to my grocery stock. I like this business because milk /groceries/food items are always in demand, that is, people will always have to eat something so as to live. Most of the people in our neighborhood are facing poverty and are therefore not able to buy things in large quantity.
My wife and I are the shopkeepers in our business and I do not have to employ someone to work in the business. Moreover we are doing the business in the same building that we are living in, and therefore saving on additional rent for the shop. Our main business cost is rent and cost of goods purchased for resale. I do use the income from sales to re invest in growing the business. The rate at which the goods clears up in the shelves is so high in such a business and we have to keep monitoring the stock level often to make sure that there is no goods that is out of stock. The main challenge is restocking goods frequently and breaking the items in smaller quantities.
Its my desire to grow my business to the level of a cash and carry supermarket if God open ways for funds. This would increase my income and I will be able to support my siblings and my mother who is a widow. I will appreciate any support accorded to me. May God bless you abundantly as you avail your resources to lend to the needy.
Loan Proposal
Hi lenders, i am extremely joyful once again for another opportunity to post my loan for funding. i believe that you would consider my appeal for funding as you have always did. i am planning to stock ten 90 kg bags of maize @ 40 usd totaling 400 usd, two 50 kg bag of sugar @ 40 usd totaling 80 usd, five 50 kg bags of rice @ 40 usd totaling 200 usd, five 20 litres cooking oil @ 3 usd totaling 150 usd, 10 dozen of 2kg wheat flour @ 20usd totaling 200 usd, ten dozen of 1kg wheat flour @ 20usd totaling 200 usd, grand total =1230 usd.
this would realy boost my business towards my goal of having a supermarket hence customer satisfaction as they would get the items they need under one roof. i am expecting to double my profits since i will have a bigger stock hence practising economies of scale. many thanks
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Loan Info
Project Type
Classic Loan
Disbursed amount
$1,303.40
Date disbursed
Feb 17, 2018
Repayment status
Late
Projected term
49 months
Cost to entrepreneur
Service fee: $51.74
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