Loan to expand business space

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 wish to apply this loan in order to expand my business space. The business space is expected to cost $200. This is because the current space is very small and makes my employee and I congested when serving the customers with most of the customers standing outside when waiting for the services to be done. The expanded space will also enable the business serve many customers efficiently and effectively and thus raise more revenue to run the affairs of the business. The business revenue is expected to increase by 40% in the first year and increase substantially in the proceeding years.

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