Dryer and a blowdry to double my income
Everlyne
Nairobi, Kenya
100% repaid
Entrepreneur
Name
Everlyne
Member since
April 2015
On-time repayments
31 installments • 48%
About Me
I am a 32 year old loving wife and mother of 3 children and also the only child of my parents. Living and having a salon business in Ongata Rongai town, Olerai area.
I was born in Mombasa and raised in Nairobi County where i started developing entrepreneurial skills at an early age. During my childhood and teens i used to assist my parents and aunt in running cloth and grocery shop respectively. The up bringing helped me to develop social and business skills that has seen me succeed today in my salon business.
My educational background is in Information technology. Where i got a certificate at IAT (institute of Advanced Technology - Nairobi)
In an environment of limited employment opportunities after college I felt a need to start up a business in order to earn a living to supplement my husbands income.
My Business
I started my salon business in 2010 which has transformed from being a supplementary source of income to the main source of Income for my Family. I started with a few items but has since grown to where it is today. However the growth has been limited due to lack of sources of credit to help me in acquiring the much needed items like dryers, blow dryers and hair products and suppliers that are key in taking care of an increased client base.
My dream is to have a big business facility that will offer hair dressing and beauty training as well as taking care of individual clients needs with Ongata Rongai town and extend to the Capital City - Nairobi and key selected County depending on clients needs.
Loan Proposal
Currently my Salon business is giving me a weekly income of $ 48 and incurring operating expenses of $ 20 my net income is $ 28 which i use for my personal rent, meals, clothing and transport. However, my weekly income can be doubled if i acquire a dryer and a blow dryer at $ 325. I have agreed with the retailer to make a down payment of $150 and pay monthly installments of $30 for 6 months. I have savings of $ 50 and that is why i am asking for a loan of $100 to make the down payment. This investment will double my weekly income given that i already have a customer base which i pleat but going forwards i can start styling and also attract clients from every class. I would also like to expand my business in future to start training and empowering young boys and girls and to create job opportunity to the jobless.
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Loan Info
Project Type
Classic Loan
Disbursed amount
$100.00
Date disbursed
Apr 29, 2015
Repayment status
On Time
Projected term
2 months
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