Meet Francheska
Francheska runs a bustling nail salon in Carolina, Puerto Rico. Prior to opening her business, she studied cosmetology but when her son was born premature, she was no longer in a position to complete her studies.
After a Grameen America Center Manager told Francheska about the program, she decided to use her past training to open a nail salon. She rented a small space to house the salon, which soon grew to a storefront. Francheska currently rents space to four nail technicians who each have their own clients.
“I couldn’t imagine meeting my goal of becoming a business owner if I didn’t have access to loans from Grameen America.”
Before joining Grameen America, Francheska’s financial situation meant that it was not feasible to be a business owner. After five years in the program, Francheska used her most recent loan of $3,250 to buy stock for her salon and to complete payment on an air conditioning unit and power generator—a necessity for hurricane season in Puerto Rico.
Francheska’s favorite part of owning her own business is the freedom to establish her own schedule. She is married with two young sons and enjoys spending time with her family.
Francheska is the chief of her Grameen America center and recommends the program to all her friends. Following the impact of Hurricane María, Francheska’s center moved locations, but the women continue to support each other as they meet each week to repay their loans.
Francheska saves regularly towards her children’s education and for her family. Her timely loan repayments are reported to the credit bureaus and her credit has improved considerably since joining Grameen America. She was recently able to access a lower interest rate when she purchased a car.