Portmore - Success Stories

Client: Ms. Nadine Oldacre

Location: 42 Hope View Avenue , Linstead, St. Catherine

Business: Beauty Salon

 

 

Ms. Oldacre with her customer in

the Beauty Salon

Ms. Oldacre has been operating a Beauty Salon for the past eleven (11) years. She is one of the CDFs most valued clients. She has been quite exemplary both in her repayment to the CDF and her attitude toward the development of her business in general. Within the last five (5) months she has had approximately 50% increase in her clientele due to the facelift given to the business and the increase in staff complement that was made possible by her first loan from the Portmore CDF.

 

Ms. Oldacre has since repaid her loan and taken another to upkeep the cash flow within the business.

She was able to purchase a motor vehicle to assist with the transportation of the raw materials used in the shop with funds borrowed from the CDF. Her business assets have increased to approximately $200,000 from approximately $80,000 within the last five (5) months.

 

The Beauty Salon currently owned and operated by Ms. Oldacre was not so long ago just a one-room board structure with a hair dryer and a styling chair. Since becoming a client of the CDF, she has now moved to a 20ft container divided into three (3) sections for washing, styling and manicure. She has also acquired two (2) additional hair dryers, and now employs an assistant as well as a nail technician.

 

Ms. Oldacre describes the Portmore CDF as a “refuge to run to” whenever she needs to restock her business while being assured that her savings will earn interest. She has recommended quite a number of persons to the CDF and promises to continue doing so. She says her main aim is to open another Salon and put a few taxis on the road. She is now on her sixth loan with the CDF with an excellent repayment record.