Help Kiva Borrower Elite Secrets Bridal

Elite Secrets Bridal

GOAL: $3000.00

Business Description

Located in Baltimore's esteemed Mount Vernon fashion boutique district, Elite Secrets Bridal opened its doors, bringing to Baltimore’s bridal scene an experience that cannot be found in any other Baltimore bridal boutique. The pedigree of founder LaTonya Turnage, bridal beauty, and fashion expert, has been fundamental to our philosophy to combine expertise and excellent service with style and grace. Leaving pretense to the side, we focus on bringing the best designer and emerging bridal gowns from all over the world to Baltimore Brides!

What is the purpose of this loan?

Over the past few years the traffic to my business has increased however I now struggle with having the funds to purchase inventory to close sales. In the bridal industry there are two seasons, Spring/Summer and Fall/Winter. and most designers require bridal shops to purchase samples/inventory from each season. There is a minimum requirement of 7 samples per season.

A Kiva loan will help me purchase new inventory/samples to increase closing sales with brides. In Baltimore we are one of the two bridal salons in the area however we see the majority of the downtown brides because of our location and overall bridal experience.

The challenge has been not having enough inventory/selections for the brides to choose from. The return on investment of purchasing 7 sample wedding gowns is more than half on specific styles. On average we see 15-20 brides a month. If closing at 100% of those appointments would allow between 20,000-25,000 profit based on style of gown.

This loan will allow me to purchase more samples and close on more sales.