A loan for new employee

Entrepreneur

About Me

I was born in a family of 18 (polygamous family),schooled in a public primary,excelled but lacked fee for high school,sort well wishers and i was assisted through my high school education. After excelling from high school i applied for government scholarship and it funded my university education. Due to unemployment i opted to open a Salon in a nearby shopping center to at least carter for my needs and even support my siblings.In my locality people do not have business mind sets and therefore more business opportunities are available which not been explored.My sons says he wants to be an Engineer when he grows up. When free, i visit orphanages and the needy in the locality.

My Business

I run a salon which was the best opportunity i spotted since there was no other salon in the same locality,and yet there were many ladies who needed the services.The costs are one time and expensive since they involve high cost equipment.However,the profit margin is attractive.The profit i get goes to home basic needs and also use a portion to support the needy in the society

Loan Proposal

I intend to employee an assistant for my photocopy business. This is because the business is doing well and to meet customers demand, a new employee is required. The new employee will be paid $150 per month for the beginning then $200 per month after 3 months. New employee will help the business grow as a result of increased efficiency and customer satisfaction. The profit is also expected to increase by 40% since many customers will be served as compared to the situation now where some wait then decide to leave to another business competitor so save their time. I look forward to repay the loan on time. Thank you in advance

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