‹ Back To Loans
Sumadhi Spa Pro Aesthetics Training Center
ID: ED20210605
Inner City Economic Development Loan
County Comission District: 10 | City Council District: 06, 08
Inner City Economic Development Loan
County Comission District: 10 | City Council District: 06, 08
Summary
Sumadhi Spa Pro Aesthetics Training Center is seeking a $11,000 Inner City Economic Development (ICED) Loan to help with interior improvements. Work to be completed at 1100 East Brooks Road. Project costs are estimated to be $24,690.Pro Aesthetics Training Center is an Aesthetics school offering postsecondary education at an affordable price. The school will provide 750 hours needed to take the state board test as well as additional business and financial classes for students wanting to open their own spa. School tuition will be $3,650 and students will have the option pay monthly or apply for a no interest loan. Pro Aesthetics Training Center will also provide coaching services to licensed professionals, reduced price services to the public, and a line of skin care items for sale.
The loan will help Mrs. Fitzgerald make improvements to the 5,251 square foot space constructed in 1972. Improvements will be installation of new luxury flooring in the common area and two offices, painting in both the classrooms and training rooms and plumbing work to include rough in for a kitchen sink, 3 shampoo bowls and a washing machine.
Loan Term:
3 Years
Interest Rate:
Not applicable
Projected New Jobs:
2
Projected Retained Jobs:
1
Average Payroll:
Not applicable
Loan Amount:
$11,000
Loan Use:
Not applicable
Total Projected Capital Investment:
$24,690
Real Property:
Not applicable
Acquisition:
Not applicable
Construction:
Not applicable
Renovation:
Not applicable
Machinery & Equipment:
Not applicable
Furniture, Fixtures, Office:
Not applicable
Equipment:
Not applicable
Fees & Soft Costs:
Not applicable
Permanent Working Capital:
Not applicable
Miscellaneous:
Not applicable
Approved
6/2/2021
Closing
Not applicable