Loans assist personal fitness studios, restaurants, dessert shop, salon services and remodeling company
LOUISVILLE, Ky. (Jan. 27, 2014) — Loans totaling nearly $90,000 have been awarded to nine small businesses to help them expand and create new jobs. The loans are part of a new program to support microbusinesses – those with five or fewer employees – created by the Louisville Metro Department of Community Services and Revitalization (CSR).
The loans, funded by federal dollars from a Community Development Block Grant by the U.S. Department of Housing and Urban Development to assist low to moderate-income microbusiness owners, are.
♦ $15,000 loan to Beautiful Hair Solutions, located at 8017 Catherine Lane, Suite 7. The loan will allow the owner, Tiffiny Smith, to purchase more equipment to expand a full service salon specializing in non-surgical hair replacements and other salon services. This project will add one full-time and two part-time positions.
♦ $15,000 loan to Randy’s Soulful Bar-B-Q, located at 5207-B Dixie Highway. The loan will allow the owner, John R. Towns, to purchase more equipment to expand corporate catering and to complete renovations to open a full service restaurant. The project will add two part-time positions.
♦ $12,500 loan to DiVashe Nail Spa, located at 5207 Dixie Highway. The loan will allow the owner, Sherita Bousso, to purchase additional equipment for a full service nail salon. The project will add one full time tech and one part time tech positions.
♦ $10,000 loan to B-Fit Personal Training and Group Fitness, LLC, located at 3806 Shepherdsville Road. The loan will allow the owner, Blair Coleman, to purchase additional equipment for a personal training business that includes a variety of fitness classes such as Zumba.
♦ $10,000 loan to Transitions Distribution, LLC dba Dudley Products Louisville, located at 332 W. Broadway, Suite 888. The loan will allow the owner, Shartina Charles, to purchase additional inventory to expand beauty distribution business. Dudley Products offers retail sales of Dudley salon and beauty products and is the only supplier in the Louisville area. The project will add one full time position.
♦ $10,000 loan to Yomfun LLC d/b/a Funmi’s Cafe, located at 3028 Bardstown Road in the Gardiner Lane Shopping Center. The loan will allow the owners, Yomi and Funmi Aderinokun, to add more seating to a West-African cuisine restaurant and allow the business to include beer and wine sales. The project will add two full time positions.
♦ $6,100 loan to G.I.D. Remodeling, LLC. The loan will allow the owner, Desmond Conley, to purchase additional equipment and marketing materials for a full-service remodeling and carpentry company that provides services to commercial and residential properties.
♦ $6,000 loan to The Edible Creations, LLC, located at 976 Barret Avenue. The loan will allow the owner, Lafesa Johnson, to purchase additional equipment to expand a dessert and cake business.
♦ $5,000 loan to Modern Day Fitness, LLC, located at 455 S. Fourth Street. The loan will allow the owner, Ashauna Higgins to expand her fitness business to include an aerial yoga and pole fitness studio in a new location at 2240 Taylorsville Road, near the Highlands.
The microbusiness program is part of the Financial Empowerment/economic Development (FEeD) division of CSR that provides financial empowerment services, business development training, technical assistance and loan programs to help create and expand new businesses.
For more information about CSR’s microbusiness trainings and loan opportunities, visit louisvilleky.gov/CSR/FEED/MicroEnterprise.htm.