LaVonne began her startup business, Be Bold & Beautiful Beauty Supply Store, less than six months ago from her apartment in Birmingham, Alabama. With more than five years of experience in the beauty industry, selling and marketing hair care products, her short-term goal is to continue selling products to current customers and begin marketing her new business at her local church, through new and old friends, and word of mouth.
Recently, LaVonne decided to take the leap and begin purchasing her own product to sell to current and potential customers in her area. To do this, she needed money to purchase her product. LaVonne came to Accion Texas Inc. after discovering the nonprofit microlender at a local bank in her neighborhood. After she applied for a microloan, LaVonne received approval for a $5,450 loan and began purchasing beauty products such as brushes, hair color, wigs, nail polish and many other items to beautify women around Birmingham.
Without the loan, Lavonne says “it would have taken me a lot longer to purchase inventory.” In the near future, LaVonne plans to create her own website and hire one part-time employee, but as of now she remains the sole employee.
LiftFund. (www.liftfund.com) is an award-winning nonprofit organization (previously known as Accion Texas) with a mission to provide credit and loans to small and start-up businesses that have limited or no access to credit from commercial sources. Established in 1994 in San Antonio, LiftFund has helped Texas and Louisiana entrepreneurs strengthen their businesses, stabilize and increase their incomes, create employment, and contribute to the economic revitalization of their communities. Learn more at www.liftfund.com.