Milagro bought her business from her former boss to open her own beauty salon: Looking Good Beauty House. She was able to do it borrowing money from her mother and using a small loan. She started with just four stations in a very small space. Soon she realized that a bigger loan at a better rate was the only way to expand her business.
Milagro wanted to set up more stations, buy more inventory and make some renovations. Also, she wanted to pay off a previous loan with a high-interest rate of 8% per month, or 96% per year.
“Since I have more products, I can sell more. I have passed from having $2,000 in inventory to having $6,000. My sales have increased by 50%.”
Milagro’s Camino Experience
- She found Camino on social media
Camino Financial has a strong presence online so it wasn’t hard for Milagro to find the Company while she was on Facebook. “Once I read the reviews from other clients, I had no doubt they were trustworthy lenders.”
- Quick, easy and hassle-free process
Milagro was surprised by how quickly a loan specialist contacted her to start the process. “A few minutes after completing the online application, I received a phone call. I couldn’t believe it! They explained to me the rest of the loan process and told me I would receive my funds in two days. And, that’s exactly what happened!”
- The loan amount that fits your needs, with reasonable terms and rates
The monthly payments and fixed rates allow you to know exactly how much you are paying and to keep control of your finances. “I chose a microloan of $15,000. To be honest, I had other offers from other lenders but I compared the interest rates and terms with those at Camino, and I was convinced this was the right choice.”
- Honesty, transparency and excellent customer service
Milagro knows that a business’ success lies in good customer service. And that’s also what she found in Camino. “With my clients, I do my best to establish a relationship based on mutual trust. The key to success is being attentive and nice, knowing that the client always comes first. I value honesty and that’s just what I found in Camino.”
Savings on interest expense, an increase in sales by 50% and a new employee
Milagro’s previous loan had a monthly interest of 8%. With Camino, the monthly interest rate decreased to 2%. Also, thanks to the loan she could buy more inventory and renovate the salon, growing her sales by 50%. Lastly, the loan allowed her to hire a new employee to attend the growing number of clients. Milagro has plans to offer more services and open a spa in the near future.