Background

Abiola has a passion for making handbags. She loves sewing and putting together pieces to create beautiful and unique bags. But after attending college, she was unsure of how to make a living doing something she was so passionate about. She considered working at one of the retail stores in her neighborhood, but knew that she wanted something more.

She continued to go to college and graduated with a degree in fashion design from The Art Institute of Atlanta in Atlanta, Georgia, but still hadn’t figured out how to turn her passion for handbags into a business. Then one day, her friend suggested that she start selling her unique bags at popup shops in her friend’s home. At first, Abiola was hesitant, but eventually decided to give it a try. She created the perfect bags and worked hard to promote her business. She was excited to see her bags selling, but she quickly realized that she needed more than just popup shops to sustain her business. 

Solution

Abiola had engaged Filthy Rich Idea’s business funding services in the beginning of 2022. After doing research, she realized that getting a loan would be the best way to sustain her business and really get it off the ground. She wasn’t sure if she’d be approved for a loan, but decided to take a chance and apply due to Filthy Rich Idea’s pre-qualification system. Abiola was able to assess how to structure her business against the loans she wanted prior to applying for the loans. 

Filthy Rich Idea did a thorough evaluation of Abiola’s business, and helped her establish a financial foundation that provided Abiola the opportunity to succeed. After going through the loan application process, Abiola was approved for several loans and was able to access the funds immediately.

With the loans, Abiola was able to expand her business and create new products. She invested in marketing and promotion, which helped her reach new customers. She also used the funds to hire additional staff, which allowed her to expand her product line and make more sales.

Result

Within a year, Abiola had tripled her sales averaging $20,000 a month and was able to open up her own store in East Point, Georgia. With the help of Filthy Rich Idea, Abiola’s business has become a success. She is able to live her dreams and make a living doing something she is passionate about.