Beauty salon

Margaret

Kombe Village, Kenya

5% repaid

Entrepreneur

Name

Margaret

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

My business is growing up so fast and the demand for hair making products is high, i seek a loan of KES, 79,119, in which I will use KES 50,000 to purchase new hairmaking products. The remaining KES 29,119, I will use to buy assorted hair beauty products and detergents for use in my hair beauty and therapy workshop.

With the new and improved hair beauty inventory and detergents, I will be able to serve more clients and increase my profit by 40% per day. Increased profit will enable me to meet my family financial needs and repay the loan in time.

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!

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  • 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

$779.00

Date disbursed

Aug 17, 2018

Repayment status

Late

Projected term

11 months

Lenders

TheMoonDuster

Brisbane, Australia

V

Vivek

Arlington, VA, United States

Mary

Germany

J

James

United States

A

Anonymous

United States

A

Anonymous

United States

M

Malte

Switzerland

GA

Gal Ashuach

רעננה, Israel

Darrell Burgan

Dallas, TX, United States

Nico Robin

Osaka, Japan

Cambium Foundation

Kirkland, United States

Ask Margaret a question about this project, share news and photos of your own, or send a simple note of thanks or inspiration.

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  • Margaret    Feb 22, 2019

    I am still unwell.

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  • Nico Robin    Oct 23, 2018

    Hello Margaret,
    When will you start pay your loan?

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  • James    Aug 24, 2018

    Greetings Margaret, I am James, one of the lenders. Seems that your business is doing good and I am sure it will increase over time, just be patient and keep on doing good service to your customers. I am sure that some of your lady customers or other women in the area where you live have babies or may be expecting a baby soon. Have you thought of also selling other products in your business, like diapers, baby oil, baby powder, diaper rash medication, or cotton cloth napkins (some women use these napkins for diapers). You could possibly make more income selling other things too, like womens underwear. Perhaps slowly add other things to sell in your nice saloon. I noticed in the picture that you have some shelves. Perhaps you could add some shelves and display other thing to sell, like the baby things, and underwears could be in a box or hung on hooks or nails. Customers may even like having a soda too. If you can get a small container and some ice, you might try it. Also, some people even like soda at room temperature, does not have to be cold. Lastly, have you thought of also cutting mens and boys hair. I am sure some of your lady customers have sons who need haircuts. Think about all these things. Well Margaret, I pray for the continuing best for your business, you are already a success. Take care, and "keep on keeping on". James

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  • Margaret    Aug 16, 2018

    I appreciate my lenders so much, they are indeed my partners in this business.

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  • nikko    Aug 15, 2018

    Margaret, congratulations on a great business,
    Obviously your work ethic is strong. I have much faith in your business growing.

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  • Nico Robin    Aug 10, 2018

    Good luck, Margaret!

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  • Margaret    Aug 5, 2018

    I am grateful for my lenders, you are making my business succeed.

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  • Margaret    Jun 16, 2018

    My business is not doing well at the moment. I will re-adjust.

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  • Margaret    May 9, 2018

    my business has not picked up well and i don't want to default.

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  • Margaret    Apr 17, 2018

    Low business session

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  • Joggele    Mar 19, 2018

    Great you use solar power!

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  • Joggele    Mar 19, 2018

    Great you use solar power!

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  • Joggele    Mar 19, 2018

    Great you use solar power!

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  • TomF925    Jan 19, 2018

    Hello Margaret, Happy New Year! I think adding photos of you together with your customers would help with new loans, if you decide to apply. Of course, you should only apply for another loan if it can help your business grow.

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  • Margaret    Jan 11, 2018

    ZIDISHA is trully a pro-poor lending facility. I like their support and free interest loans that has enabled my hair beauty business to grow. I appreciate you so much.

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  • BernadetteV    Oct 29, 2017

    Wishing you continued success for your business.

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  • Joggele    Oct 29, 2017

    Does you solar powered hairdryer still work? Could you post a foto of that and your shop?
    All the best!

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  • Margaret    Oct 29, 2017

    ZIDISHA has changed my family! The loan has enabled me to improve my family income and we are doing well financially as a family. Thanks to ZIDISHA family.

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  • BernadetteV    Oct 14, 2017

    Glad that your business is doing better. I am happy for you.

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  • Margaret    Aug 18, 2017

    My business has gone down, but I will improve my payments progressively.

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