This Detroit Business Gives Out Loans for Hair Extensions

Getting hair extension services from a quality hair salon is a great way to add natural-looking length and body to your hair. When many women have as many as 104 different hairstyles throughout their lifetimes, extensions are a great way to switch up your look without having to wait for your hair to grow.
But sew in hair extensions certainly aren’t free. In fact, getting extensions will set you back anywhere from $300 to as much as $10,000 for the highest-quality extensions.
To help make hair extensions a little more affordable, however, a new Detroit business offers loans specifically to people who want extensions.
According to a June 5 American Bazaar article, the Weave Loan Store, located on W. 8 Mile Road in Detroit, is set to open on June 13, and will dole out loans to anyone hoping to get a new set of hair extensions.
Unlike a store credit card, which would require people to buy hair extensions exclusively from the Weave Loan Store, the shop’s loans allow people to get their hair extensions at the salon of their choosing.
Hair extension loans from the Weave Loan Store have an interest rate of about 7 to 8%, which its co-founder insisted is a fair rate. If someone defaults on a loan, the shop will follow the regular debt collection process.
“We’re going to treat our customers with respect,” Weave Loan Store co-owner Fred, who declined to give his last name, said. “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.”
There’s no denying that hair extensions are becoming more popular than ever; over the last two years alone, there was a stunning 28.5% increase in the number of salons offering hair extension services. But now, these extensions might just become a little bit friendlier to budgets of all sizes.
What are your thoughts on this story? Have any other questions for us about how to add body to hair and add length to short hair styles? Let us know by leaving a comment below.