Nope, you didn’t read that headline wrong. There is now a loan company offering women financial assistance for their dreams of a weave.
According to MadameNoire , the Weave Loan Store is based in Detroit, Michigan and offers a variety of different financing options for women looking to borrow money to cover their costly weave expenses. Had we not watched the commercial in its’ entirety and found out that there is an actual contact number for potential customers to call as well as a legitimate website, we honestly would have thought that this was a joke.
The cost of purchasing hair, installment, styling and maintenance is very expensive — so there’s no argument in that regard. But if you really need a loan to take care of these costs and aren’t able to budget for it without borrowing funds, then chances are that you probably should be focusing on ways to adjust your lifestyle to fit your budget OR increasing your income to fit your desired lifestyle before adding to your expenses by taking out a loan to fund your high-priced weave aspirations.
The Weave Loan Store is also based in the city of Detroit, which filed bankruptcy less than 2 years ago, has the highest poverty rate in America — and continues to struggle with providing its predominantly urban population with basic necessities like water and electricity. Detroit has long been known for it’s thriving black hair culture, so as silly as it may sound to some, we don’t doubt that this business will find success in this city…but at what cost? Furthermore, how in the world can a store that offers “weave loans” in a community where people can barely afford to keep their lights on be a good idea?
MadameNoire reached out to one of the owners of the Weave Loan Store for comment and they had this to say:
“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 company’s creators also insist that they started the business in response to a high demand from customers desiring quality weaves but unable to afford them. Being that the primary goal of any business looking to make money is to seize opportunities to fill a void in services that are in high demand, we don’t doubt that their response is partly factual. But whether they’d like to admit it or not, this company is ultimately attempting to capitalize on the hardships of struggling women by convincing them that if they can’t afford much else, they should at least be able to afford to feel beautiful, even if it leaves them up to their knees in debt. No, no and more no.
Striving to give people hope or happiness in the midst of a grim situation isn’t a bad thing by far, but taking advantage of people in already-dire financial situations is not the way to do it.