Before Kenneth entered the retail business, people approached him to help sell music CDs to the public. For about two years, Kenneth says it was more of a hobby, but as of March, 2013, Kenneth turned his hobby into a full-time business after people started asking for music from his personal library.
Kenneth worked on obtaining music from rappers in the Houston area and selling it to rap lovers in the Dallas area. As the business demand grew, he knew the next thing to do would be to open a store where people could drive to him, instead of making deliveries as he once did.
Now that Kenneth has an established location for his business, he needed a loan to market it, purchase inventory and pay rent. He turned to nonprofit microlender Accion Texas Inc. when a quick Google search introduced him to it, and he was approved for funds to help support his business. He now purchases music wholesale directly from musicians.
Before the loan, Kenneth marketed his business at barbershops and car washes and relied heavily on word-of-mouth. Because of the loan, he is now able to keep his store shelves full of local music, support other musicians during a time when piracy is the norm, create a living for those musicians, and become a successful entrepreneur.
When he’s not at the shop, Kenneth has another job as a landscaper, but the income from that job is invested mostly in the store’s costs. He also uses those earnings to create music of his own.
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.