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:

Interest Rate:

Projected New Jobs:

Projected Retained Jobs:

Average Payroll:

Loan Amount:

Loan Use:

Total Projected Capital Investment:

Real Property:

Acquisition:

Construction:

Renovation:

Machinery & Equipment:

Furniture, Fixtures, Office:

Equipment:

Fees & Soft Costs:

Permanent Working Capital:

Miscellaneous: