Rosa Garcia has worked as a stylist and manager of a beauty salon for more than 10 years, but always wanted to open her own business. Earlier this winter she found the ideal location, but needed a small business loan to help cover the costs of space renovations, inventory, furniture, equipment and working capital.
To help launch her business, Rosa worked with Pace University Small Business Development Center (SBDC) business advisors Sandra Cely and Anish Thakkar. Sandra worked with Rosa to develop start-up cost estimates and build three-year financial projections including cash flows; and Anish introduced Rosa to Wix and advised her on how to use the platform to build a website for her hair salon’s services.
With the Pace SBDC’s assistance, Rosa was able to secure a $30,000 loan from LES People’s Federal Credit Union to supplement her own investment. And earlier this winter Roxy Hair Studio opened on East First Street on the Lower East Side, creating three new jobs with an additional three more projected for later this summer.