Now Detroit, ya’ll no better! A weave loan store has got to be the craziest thing I have read today and I cannot wait to see what you guys think about this story.
Mediatakeout was where I first saw this story in passing, and to be quite honest I do not take a lot of what they write seriously because they tend to exaggerate a bit.
But then our friends over at Madamenoire decided to take things a step further in finding out more about this ‘ratchet venture’ by contacting the store, I was interested!
How it works is that the store owner will connect the person who cannot afford the weave* with lenders who offer loans. The store owner who only wanted to be identified as Fred was clear on the point that he wanted to give his customers ‘options to better afford weaves*.”
“We’re going to treat our customers with respect. We’ll give them viable options; we won’t be exorbitant. Loans will be reasonable and attainable.
We want them to know we’re sensitive to our demographic. We’re not going to disenfranchise our customers.” The Weave Loan Store is located in the 8 Mile section of Detroit, which Fred says is at a place that attracts customers from across the gamut, urban, suburban, and otherwise.
We agree with Madamenoire wholeheartedly when they say this is probably the worst business to patronize because what you will essentially be doing is getting a payday loan to purchase some hair.
When ‘Fred’ says that he has the customers in mind and that he does not want to disenfranchise them, that is a bold face lie.
The long and short of it is, if you need a loan to take care of something that will make your life better in the long run then maybe that might be a great investment.
If you cannot afford weave* then that is just a purchase you should leave alone. Weigh in, do you think this sort of business adds value to urban communities or do you think this is a good idea?