Addition of a new product line

Gladys Kavuvi

Nakuru, Kenya

100% repaid

Entrepreneur

Name

Gladys Kavuvi

Member since

August 2014

On-time repayments

69 installments  •  84%

About Me

when i was growing up i knew that my success in life was tied up in education because that is something with which i i did not struggle. by the time i got to university, i realized that my talents would open more doors for me than education would, so i decided to start doing the things that i knew well to do as a part time activity and for me this was in the beautification industry. i loved making people's hair, manicure, pedicure and other beauty services. i was doing great although i did not have a specific place to work from, therefore, i decided to open a business in the beautification industry once i was out of university. the decision to join the industry was inspired by the fact that many young people in my country are jobless, therefore, opening such a business would not just be beneficial to me but would create job opportunities for other young people. it is my aim to become one of the renowned business people in the beautification industry by creating more jobs for young people in my country.

My Business

as mentioned in my profile, i am in the beautification industry where i own a salon within my neighborhood although at a very young stage. so far the business is picking up well enough. however, a business in the beautification industry is well suited if placed in more populated areas like town centers. so far i have managed to bring on board two more people who help me in carrying out daily activities but my vision does not end there. there are many people in towns who do not have anything to do, therefore, if i located my business in such places i would be able to raise more income and create more jobs for young people. the expansion of my business requires financial support which i lack, and for me to achieve my set standards and expectations i must not just move to more populated areas but also diversify the products we offer. any financial help towards this course can be the breakthrough i need for the next level.

Loan Proposal

first of all i am so grateful for enabling me relocate my business through the last loan. it was of great help. we have doubled the number of the clients we serve and that requires more input to help sustain the new level of business. as a result, i want to introduce a new line of product so that my business can serve like a one stop shop where people get all their beauty needs served in one sitting. the additional product line will include clothes, hair additions as well as other beauty products. these in combination with the salon services that we are currently offering will take the business to another level.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$97.70

Date disbursed

Oct 29, 2014

Repayment status

On Time

Projected term

2 months

Cost to entrepreneur

Lender interest: $97.70 at 8.40% annual rate over 2 months = $1.51

Service fee: $0.66

Lenders

Richard Griebe

La Jolla, United States

S

sbower33

United States

P

ppokcire

United States

F

FFMInvest

Frankfurt Am Main, Germany

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