Loan to buy beauty equipment for my salon

Alice Mbonde

Mombasa, Kenya

100% repaid

Entrepreneur

Name

Alice Mbonde

Member since

July 2014

On-time repayments

156 installments  •  33%

About Me

My name is Alice Mbonde. I was born in Taita Taveta county but later re-located to Mombasa where I run a small hair salon. I was born of a single mother with where I am the 3th born out of eight children. I am married with two children - a boy and a girl aged 10 and 5 years respectively.

My husband is a business man and we live together in a rented house. We use our incomes to run the family budget. I am a hardworking person who truly believes that hard work pays and I have a dream of expanding my business if given support in form of credit.

My Business

As stated above, I am a hairdresser and I do my business in the outskirts of Mombasa town in an area called Bombolulu. My work mainly entails plaiting, and hair treatment. I also do other beauty related work such as manicure, pedicure and facials. I have been in this business for about one year and during this period, I have gained experience and I have built a good client base which I rely on for continuous flow of business.

I collect an average income of $120 per week. In spite of the success I have made so far, I face a number of challenges, key among them lack of capital to expand the business so as to address the growing number of clients.

If given credit by Zidisha, I intend to buy a drier and a blow dry which will go a long way in easing pressure on the existing machines. This will also increase efficiency at my salon and probably employ a casual laborer when very busy.

Loan Proposal

If given credit by Zidisha, I will spend the money as follows:

1. Blow - dry Machine @ $35
2. Hair Drier Machine @ 80
3. Material for pedicure and manicure - $30

I am looking forward to being funded so that I realize my full potential and also serve my clients in a better way. My business gets regular income on daily basis and I will be able to pay the loan comfortably.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$150.52

Date disbursed

Aug 13, 2014

Repayment status

On Time

Projected term

6 months

Cost to entrepreneur

Lender interest: $150.52 at 4.46% annual rate over 6 months = $3.74

Service fee: $3.00

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