A loan of $550 helped she will purchase wholesale products such as shampoo, gel rinse, lacquers, and towels.


Luz Elena's story

Margie’s Beauty Salon is Luz Elena’s business with which she has had seven years of experience and has also been in operation for seven years. Her specialty is haircuts and styling for women, men, boys, and girls for all occasions. Her service is well known in the neighborhood of Silencio de Barranquilla where she counts on great clients that are regulars and seasonal. Margie’s Beauty Salon is a microenterprise that started its operation in 2003, driven by the initiative of her aunt who was retired and looking for new income; her aunt rented a locale with a manicurist friend and she acquired the basic tools to start working. In 2005 her aunt gave Luz Elena the business, so that she could have her own source of income to pay for her studies; since then she has not ceased, and has remolded and grown. Currently she counts on two stylists and one manicurist, and thanks to her business she has finished her studies. Her dream now is to have her own spa in her own locale and she is working to increase her profits to be able to achieve this goal in the future. This is her first Kiva loan through Fundación Mario Santo Domingo, and with it she will purchase wholesale products such as shampoo, gel rinse, lacquers, and towels. Luz’ business is self sustainable, has a 41% profit margin, and she can pay all of her expenses. She has the capacity to handle future commitments, and also has the liquidity to cover her short term debt, and turn over her accounts to cover charges and inventory; her future costs will not be affected by her new loan.

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Translated from Spanish by Kiva volunteer Mariela Cedeño



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