A loan of $5,450 helped to replace raw materials needed and distribute her inventory to as many salons as possible.

Beverly's story

In a warehouse in Memphis, Tenn., Beverly runs a business where she mainly bottles hair care products and distributes them to local salons. Before she decided to become an entrepreneur and have her husband financially invest in the creation of E&R Wholesale, Beverly worked nine years for another wholesale company and realized she could do the same work on her own for a larger profit.

Her short-term plans are to expand her business enough to manufacture and sell to wholesalers, and later, hire employees to manufacture and sell. But currently, Beverly works with two full-time employees and one part-time worker, replacing raw materials needed to distribute her inventory to as many salons as possible. She even began selling body oils to salons, which complements her business. In the photo, she is packing body oils and standing in front of machinery that has manufacturing capabilities.

Once Beverly learned about nonprofit microlender Accion Tennessee, she decided to venture to them for a loan. Quickly approved, Beverly saved herself from dipping into business funds, which helped her keep operational capital for future use. Beverly says without the loan, she would have to reduce the amount of work she can complete – even decline some orders – which would ultimately decrease her business income.

Loan details

Lenders and lending teams

Loan details