Overview
Tasha always dreamed of running her own salon, but for years it seemed out of reach. She grew up with limited means, worked low-paying jobs, and often felt like there was no way forward. What she did have was skill—she was known in her neighborhood for braids, extensions, and styling that made people look and feel their best.
Working out of her kitchen, she built a loyal clientele. Friends brought their friends, word spread, and soon she was booked most weekends. It was enough to see the potential—but not enough to support a real business.
The Turning Point
One of her friends from church told Tasha about the Small Business Development Center (SBDC) and suggested she talk to someone there. “You’ve got the talent,” her friend said, “but you need a plan if you want this to grow.”
At the SBDC, Tasha met with an advisor who listened to her ideas and helped her think about the what-ifs. What if she rented a space that was too large? What if she bought more supplies than she could afford? What if she didn’t have a steady way to cover monthly expenses?
Together, they built a plan that avoided those traps. Instead of chasing something too big too fast, they focused on:
- Starting with a small, affordable storefront in her neighborhood.
- Purchasing only the essential equipment she could manage and insure.
- Creating recurring revenue by renting chairs to other stylists—a steady stream of income that could help her cover costs even during slow weeks.
With that plan in place, the SBDC connected her with CADDA to explore financing options.
The 5 Cs in Action
Character – A New Chapter
Tasha’s credit history had a few rough spots, but she had two years of on-time payments, stable housing, and steady income from her growing client base. CADDA saw someone committed to doing things right.
Capacity – Clients Already Waiting
Her appointment book was full. She had proven demand and the skill to keep her customers coming back.
Capital – Modest but Real
Tasha committed $2,500 of her own savings toward the project. It wasn’t a fortune, but it was meaningful proof she was willing to invest in herself.
Collateral – Tools of the Trade
Salon chairs, dryers, and manicure stations became the backbone of her loan—small but tangible, insurable hard assets.
Conditions – Stability Through Recurring Revenue
By adding chair rentals, Tasha built in a dependable monthly income stream that gave her a stronger foundation than relying only on her own client schedule.
The Breakthrough
With CADDA’s support, Tasha secured a $10,000 SBA Microloan sized to fit her plan and stage of business. With it, she:
- Outfitted a two-chair salon with professional equipment.
- Signed a lease on a small, affordable storefront close to home.
- Welcomed other stylists to rent space, giving her recurring revenue alongside her own services.
The Results
Within a year, Crown & Glory Beauty became a modest but steady business:
- Chair rentals covered much of her fixed costs, smoothing out cash flow.
- Loan payments were made on time, steadily improving her credit.
- Her first financial track record as a business owner was established.
She created stability and pride for herself and her family, proving she could build something lasting.
Why It Matters
Tasha’s story shows how a small step forward—anchored by a plan, the right guidance, and a loan structured around real assets—can create a foundation for growth. By thinking carefully about risks before they happened, she avoided setbacks and built a business that works for her today while opening doors for tomorrow.