Greisy has owned a beauty salon for over 15 years but lacked the resources needed to expand her services to better serve the growing needs of her clients. In December 2016, Greisy discovered Grameen America through some friends, and was astonished to discover that she could qualify for a loan to invest in her business. Greisy received her first microloan of $1,300 in 2016 as part of one of the first groups in Newark, NJ. Greisy also opened a free savings account with the help of Grameen America and is saving some of her money each week.
Greisy used her first loan to purchase merchandise, such as beauty products and hair dye that she needed to run her salon. Grameen America has not only helped her to grow her business, but Greisy believes that it has given her business an extra push in planning for the future of her business. She said, “It’s been a positive influence on me because thanks to the program I can buy the merchandise I need to satisfy the needs of the business.”
As Greisy continues with the program, she plans to use her next loan to offer new services that are often requested by her clients, such as hair extensions. She also hopes to better promote her business in her community and to renovate her salon as she continues to save and invest in her business.