Upgrade my beauty shop

Racheal Njeri

Elburgon, Kenya

100% repaid

Entrepreneur

Name

Racheal Njeri

Member since

November 2014

On-time repayments

292 installments  •  12%

About Me

I am Racheal Njeri born in and raised in Njoro Nakuru county.I am a fourth form graduate and a short course in hair dressing and beauty.My childhood life was not that easy because i did not see my parents,my mother died when i was two years but i do not know my father because he abandon my mother when i was still in the womb.I was raised by my grandmother,and after high school she couldn't afford my college fee so i started my first job as a house help.After sometime i manage to save small amount of which i used to pay for my short course in air dressing and beauty.From there i started working in several salon to gain experience before i managed to start my own.
In my life i love vising orphans children because they remind me about my life in the past and i hope one day to open my own orphanage to help needy children to achieve their dreams and feel the love they miss from their parents.

My Business

I am a hair dressing and beauty therapist.I make good hair,manicure,pedicure,nail art,blow dry,plaiting and air treatment.I have so many customers especially from my neighborhood because my service is good and relatively affordable as compared to my competitors.
My business costs are as follows:-I pay rent $35 per month for my business premises,$125 i pay wages per month and $200 is the business running cost.My profit ranges from $100 to $250 a month depending on season.
The profit i get i support myself,my old grandmother,reinvest in my business and some little amount i save as i plan for more and different business venture in future.

Loan Proposal

I am happy to be given this gold opportunity to raise loan through this platform and this how am going to use the loan.
-$70 am going to stock braids,weaves and wigs.This will enable me to double up my profit because my customers will have to buy the products for their make up then i provide the service.Whenever i provide double service my profit always increase by 60%.

-$5 will use pay for power in my premise so that i won't be switched off throughout the month.

-$25 i will use to buy service providing products like hair gel,hair food,spray braid,shampoo,nail files,qutex and nail remover.With this products i will be able to provide a better service to my customers hence attracting more enabling me to get more profit.
Thank you.

Feedback

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Loan Info

Project Type

Classic Loan

Disbursed amount

$99.84

Date disbursed

Nov 13, 2014

Repayment status

On Time

Projected term

5 weeks

Cost to entrepreneur

Lender interest: $99.84 at 7.19% annual rate over 1 month = $0.75

Service fee: $0.38

Lenders

Cricketca

San Jose, United States

K

kingcamo1095

Mountain Home, United States

V

vrthe99perc

KUALA LUMPUR, Malaysia

Matching Fund

Sterling, United States

T

TrademarkMan

United States

WiscoHorndog

United States

P

Prometheus

Duisburg, Germany

G

GEMMGMT

United States

O

ORBP1

Germany

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