Loan to upgrade my community salon

Entrepreneur

About Me

Hello, My name is Nancy and a hardworking Ghanaian. I was raised by my single mother after my dad died early in my primary education days. As a results I could not really further my education that much even though I loved school so much. For me, childhood was a huge mix feelings when ever I remember.
I decided that I was going to go into hair dressing and styling when I successfully completed my secondary school.
I decided on this business because I was and am naturally good with styling. Ghana and my community is a very great place to be, we enjoy peace and the land scape too is so beautiful.

My Business

I deal in the sales of artificial hair for women in my community and also I am a hair dresser In my small shop in my locality. I choose this kind of business because it was am naturally gifted with it and also the capital to start was not such huge and then too there was the need in my community for a hairdresser.
Whenever I go for artificial hair, say $100, after sales and dressing peoples hair with it I make more than a 55% on the amount I used for the goods, including cream, and other things.
Most of my profit is kept in savings for the future and I put back the rest into my small business hopping that I can grow it well in the future when I have the capital to upgrade it...

Loan Proposal

I am currently applying for a loan so that I can upgrade my small salon with more cosmetics like hair cream for women, artificial hair, nails, and etc. when this my project is fully funded, I will buy the following items :
All sort of Artificial Hair for women.......$100.00
All sort of Hairdressing cream...$50.00..
Nails and others....$50.00
Now this will not make all the total amount as given as my credit limit but since the member loan fund deposit will be deducted, this will be the equivalent I may receive and for that matter this is my budget for the loan which I will actually receive.
This inventory will help me get more customers and meet their need and to the people of my community it will mean that they will not longer have to travel a long distance to do their hair.
I expect a rise in my profit to about some 50% of the invested amount...

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