Loan to buy hairstyling products, detergents and soaps

Margaret Akoth

Kombe Village, Kenya

100% repaid

Entrepreneur

Name

Margaret Akoth

Member since

February 2015

On-time repayments

203 installments  •  59%

About Me

I am Margaret Akoth, I grew up in a single parent headed family, we were six children living with our mother who didn't have a stable source of income. My father was a polygamist and opted to stay away from the family, absconding his duty as the head of the family. my mother was a stay at home mum. I went through my education and later dropped out due to teenage pregnancy. After leaving formal schooling, I joined a vocational skills course on hair care and beauty and graduated with a Certificate in beauty therapy.

I got married at the age of 18, I started my business of hair care and it helped me to raise money to meet the family obligations of food, shelter, clothing, medical and education when my husband was in College. In my Mbita community, women are not economically empowered though most of the households are headed by women.

I have four daughters and two sons. My eldest daughter has completed High School and the 2nd born daughter is a 3rd year in high school. The eldest want to be a nurse and my youngest son wants to be a pilot.

I like watching and visiting friends in my free time.

My Business

Hair beauty is a fast growing career. I provide hair care, styling and weaving. I would like to buy hair beauty and therapy products like weaves, oils and cleaning detergents for use in the my saloon business. The business is helping me raise money to meet my family economic obligations.

In a single day, I do serve upto 10 people in my hair and beauty shop. I do get a profit of KES 2,000 per day and I work 6 days a week. I intend to expand my business and buy new equipment, supplies and employ two people to help me meet the growing business demands. I am seeking a loan of KES, 79,034 that I will use to expand my business. With the boosted capital, I will be able to buy more hair beauty products and detergents in this August Holiday and serve upto 20 clients per day with a profit margin of Ksh 4,000 per day translating to Ksh 24,000 per week. I will be able to repay the loan in time pay the high school fee for my daughter in high school.

Loan Proposal

I am seeking a loan of KES 52,042 to enable me buy a solar - charged hair dryer, assorted hair treatment oils and detergents for use in my beuty hair salon. My business has picked up well and I have a steady flow of clients that likes my hair beuty products. The income from my business is helping to meet family food, medical and education costs. I am happy for the ZIDISHA community for free interest loans. I look forward to repaying on time and accessing ore flexible loans in future.

Feedback

8

None

None

  • BernadetteV    Aug 1, 2018

    Margaret repaid the loan already after 3 months. It’s a pleasure to lend to her.

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  • Mary    Jul 24, 2018

    Dear Margaret,
    thanks for paying back your loan. Best wishes for your continued success!

    Log in to reply • Share
  • BernadetteV    Oct 24, 2017

    It's a pleasure to lend to Margaret. She made repayments whenever she could and repaid the loan early.
    Best of luck, Margaret with your business.

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Loan Info

Project Type

Classic Loan

Disbursed amount

$532.00

Date disbursed

Apr 28, 2016

Repayment status

On Time

Projected term

11 months

Cost to entrepreneur

Service fee: $23.03

Lenders

YB Song

Seoul, Republic of Korea

B

bitofrits

New York City, United States

F

flaguy999

Tampa, United States

Bobrm2k3

Charleston, United States

Treesforpeople

Oxfordshire, United Kingdom

Generaal

Antwerp, Belgium

L

Leonora

TÄBY, Sweden

TomF925

www.AfricaLeap.com, United States

Paul Buchheit

Mountain View, United States

melissapmeier

United States

J

jamdal

Australia

Roy

Espoo, Finland

SteveFylde

United Kingdom

Daniel Hammarberg

Gothenburg, Sweden

V

Vivek

Arlington, VA, United States

NB

Nicholas Baball Khan

New York City, United States

Bryan B

Calgary, Canada

PG

Paul Graham

United States

MC

United States

R

Ryan

United States

Nick

Manchester, United Kingdom

roark22

Geneva, Switzerland

Mary

Germany

M

mani

United States

MC

Mark Cowburn

United States

J

Jon

United States

Craig Newmark

United States

The Zinc Team

San Francisco, United States

Humble Bundle Community

San Francisco, United States

Ellen

Michigan, United States

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