OMG!!! Only in the D!

[MarleyKeezy78]

Sorry, I can't figure out how to get the link to work, but 

No credit, no problem: Detroit store has loans for hair weaves

Posted: Jun 12, 2015 12:29 AM EDT
Updated: Jun 12, 2015 3:23 PM EDT
By Randy Wimbley, Fox 2 News

DETROIT (WJBK) - You can get a loan for a new car, a house, but how about a weave?

Meet Domonique Jackson Brame and her husband Fred.

"We've innovated something that has come from right here in the city of Detroit," Fred said.

The couple is behind the Weave Loan Store and the novel idea of financing hair extensions.

"A lot of times women would come to me actually crying," said Domonique. "Saying they could not afford hair. I would give them bundles of hair away and my husband said, that's not a good business model."

But financing is - especially when a bundle of hair can cost about $100 and women often buy two or four at a time.

"It was born out of a wonderful place of just innovating on an industry that is basically they say, nearly half a trillion dollars," Fred said.

But some believe they're preying on the impoverished - black women in particular.

"People assumed that it was a certain type of criteria of customers," Domonique said. "We have customers from all socioeconomic backgrounds, we have all races."

FOX 2: "What do you say to people who would make the argument this is predatory lending?"

"We have rates as low as 7 percent which is lower than some of your local credit unions," Fred said. "There's nothing that balloons, nothing that's exorbitant in rate at all."

Just, they say, high quality hair extensions now available to all.

"We even have a layaway plan for those that can't afford, or don't have the credit criteria," Fred said. "We even have those who just want to come in and they don't need a loan, they just want to buy retail."

The company said they can take legal action against non-paying customers, but is willing to work with everyone.

The Weave Loan Store will have it's grand opening Saturday at noon at 21621 West 8 Mile in Detroit.

[flamingo]

Oh Detroit! Way to class it up!  

[myrrh]

LOL. There was a store not too far from my house for awhile (it's closed now) that had rent-to-own rims and wheels. They had walls covered in shiny chrome wheels. I always wondered who would be dumb enough to do something like that.

[Deleted]

Is it any different than taking a loan to buy a purse or get botox?  Not sure why their business model is to loan only for weaves. Do they also own a salon & the loan store is in conjunction with that?

I wonder if you have to pay off your first weave loan before they will give you a second one?

[MarleyKeezy78]

I just find it to be so strange, lol! If you need to take out a loan for a weave, you need to rethink your hair style   

[Deleted]

It's just making fun of poor people.

[MarleyKeezy78]

Jun 12, 2015 16:04:44 GMT -5 @hickle said:

It's just making fun of poor people.

Not trying to make fun, I wouldn't get a loan for botox or a purse either. It's one thing to put something on a credit card, it's a whole other level to take out a loan in my eyes. 

[dannylion]

I would seriously question the "half-trillion dollars" valuation of the hair-weave industry. But what do I know.  However, it does seem .... unlikely.

[Deleted]

Shouldn't this be in the "Why we can't save" thread?

[Deleted]

Jun 12, 2015 15:51:03 GMT -5 myrrh said:

LOL. There was a store not too far from my house for awhile (it's closed now) that had rent-to-own rims and wheels. They had walls covered in shiny chrome wheels. I always wondered who would be dumb enough to do something like that.

My thinking is that there are people out there who do not think they will ever have money.  Maybe it is a self-fulfilling belief.  So they don't work towards having a middle class life.  Their parents didn't, their grandparents didn't, so they believe they won't.  I asked in a post the other day about leadership.  This is why I think we need better role models and communities in America.  So people can come to believe they can have a future if they do the right things.  I don't think that is an easy belief for many.  My opinion for what its worth.

[Deleted]

My kids do a presentation of "What Can Science Do?" in conjunction with Frankenstein.  As long as the topic is not of questionable taste, I try not to limit.  So one group did the subject of weaves.  It was truly fascinating since I know nothing about it.  The weaves can actually mold if left in too long.

They closed with an audience participation "game" of "Weave or No Weave" and showed pictures of celebrities.  

[Opti]

Jun 12, 2015 15:55:09 GMT -5 @rockit said:

Is it any different than taking a loan to buy a purse or get botox?  Not sure why their business model is to loan only for weaves. Do they also own a salon & the loan store is in conjunction with that?

I wonder if you have to pay off your first weave loan before they will give you a second one?

Hair for black women is a big deal. Not sure how long a weave lasts, 4 weeks, longer? But I semi-regularly have people telling me to cut my hair or color it to get employment. I'm 55. I would imagine black women with nice hair have an edge in the job market.

FWIW.

YMMV.

JMO.

[Opti]

www.huffingtonpost.com/antonia-opiah/the-changing-business-of-_b_4650819.html

What's missing from these figures are general market brands, weaves, extensions, wigs, independent beauty supply stores, distributors, e-commerce, styling tools and appliances. If all of those things were to be taken into consideration, the $684 million in expenditures could reach a whopping half trillion dollars.

(Courtesy of Google)

[dannylion]

Jun 12, 2015 16:38:03 GMT -5 Opti said:

www.huffingtonpost.com/antonia-opiah/the-changing-business-of-_b_4650819.html

What's missing from these figures are general market brands, weaves, extensions, wigs, independent beauty supply stores, distributors, e-commerce, styling tools and appliances. If all of those things were to be taken into consideration, the $684 million in expenditures could reach a whopping half trillion dollars.

(Courtesy of Google)

Wow.  SMH. I had no idea. Apparently I need to get out more.

[alabamagal]

Do they repossess if you don't pay?

[MJ2.0]

I've only twice ever gotten extensions and they were the braid-in kind. The packs of hair (had to buy 2 packs each time) were around $50 each. Then there is the cost of labor (first time a family friend did it she charged $75, the second time I went to a salon and it was around $150). But that was years ago, and the way they do weaves now and the hair quality itself has gotten better. High quality weaves can sell for several hundred dollars, and I've seen very high quality lace front wigs into the thousands.

[MJ2.0]

Jun 12, 2015 16:28:40 GMT -5 @southernsusana said:

My kids do a presentation of "What Can Science Do?" in conjunction with Frankenstein.  As long as the topic is not of questionable taste, I try not to limit.  So one group did the subject of weaves.  It was truly fascinating since I know nothing about it.  The weaves can actually mold if left in too long.

They closed with an audience participation "game" of "Weave or No Weave" and showed pictures of celebrities.  

error on the side of "weave".

[beergut]

Hey, who says all creative financing products have to come from Wall Street?

I commend them for their ingenuity. 

[Opti]

Jun 16, 2015 7:29:39 GMT -5 MJ2.0 said:

I've only twice ever gotten extensions and they were the braid-in kind. The packs of hair (had to buy 2 packs each time) were around $50 each. Then there is the cost of labor (first time a family friend did it she charged $75, the second time I went to a salon and it was around $150). But that was years ago, and the way they do weaves now and the hair quality itself has gotten better. High quality weaves can sell for several hundred dollars, and I've seen very high quality lace front wigs into the thousands.

Wow. Thanks for posting this MJ.  Now I want to quiz certain CNAs and others I work with.

[Deleted]

Jun 16, 2015 13:32:53 GMT -5 Opti said:

Jun 16, 2015 7:29:39 GMT -5 MJ2.0 said:

I've only twice ever gotten extensions and they were the braid-in kind. The packs of hair (had to buy 2 packs each time) were around $50 each. Then there is the cost of labor (first time a family friend did it she charged $75, the second time I went to a salon and it was around $150). But that was years ago, and the way they do weaves now and the hair quality itself has gotten better. High quality weaves can sell for several hundred dollars, and I've seen very high quality lace front wigs into the thousands.

Wow. Thanks for posting this MJ.  Now I want to quiz certain CNAs and others I work with.

According to my students' presentation, you should never ask a woman if her hair is a weave!  

[Opti]

Jun 16, 2015 14:35:33 GMT -5 @southernsusana said:

Jun 16, 2015 13:32:53 GMT -5 Opti said:

Wow. Thanks for posting this MJ.  Now I want to quiz certain CNAs and others I work with.

According to my students' presentation, you should never ask a woman if her hair is a weave!  

I'd like to hope they'd forgive me, a white woman, simply asking because she is curious. Most of the black women I work with change up their hair often. The one that might not that much, is probably the best paid, well perhaps second best paid black woman in the building.

FWIW, my boss is a black woman in her 20s. Like many black women she knows how to look good and changes up her look often.

[MJ2.0]

Jun 16, 2015 14:51:56 GMT -5 Opti said:

Jun 16, 2015 14:35:33 GMT -5 @southernsusana said:

According to my students' presentation, you should never ask a woman if her hair is a weave!  

I'd like to hope they'd forgive me, a white woman, simply asking because she is curious.

DON'T DO IT!

[Wisconsin Beth]

Jun 16, 2015 15:04:44 GMT -5 MJ2.0 said:

Jun 16, 2015 14:51:56 GMT -5 Opti said:

I'd like to hope they'd forgive me, a white woman, simply asking because she is curious.

DON'T DO IT!

Ok, so asking flat out shouldn't happen.

What about if Opt brings up this really interesting article she ran across on how in Detroit there's a company offering loans for weaves and goes from there?  Still not a good idea?

For what it's worth, I admire those super tiny braids in hair and will tell women that I like their braids.  As a general rule, I tend to get an "oh, thank you" when I do comment. 

[Deleted]

Jun 16, 2015 15:18:24 GMT -5 Wisconsin Beth said:

Jun 16, 2015 15:04:44 GMT -5 MJ2.0 said:

DON'T DO IT!

Ok, so asking flat out shouldn't happen.

What about if Opt brings up this really interesting article she ran across on how in Detroit there's a company offering loans for weaves and goes from there?  Still not a good idea?

For what it's worth, I admire those super tiny braids in hair and will tell women that I like their braids.  As a general rule, I tend to get an "oh, thank you" when I do comment. 

What about if "Jennifer" brings up this really interesting article she ran across on how in Palm Beach there's a company offering loans for breast implants and goes from there?  Still not a good idea?

When is it ever a good idea to ask any woman to discuss whether some part of her appearance has been "enhanced"?  Your own comment that you tend to get an "oh, thank you" when you comment says they don't really want to discuss it.

I'm impressed that my high school seniors thought to mention this.  It is good etiquette that you don't comment on stuff like this.   

Curiosity really isn't an excuse to be rude.