EDGE APPROVES NEW ECONOMIC DEVELOPMENT LOAN IN WHITEHAVEN
EDGE’s Economic Development Finance Committee approved Sumadhi Spa Pro Aesthetics Training Center as the twelfth Whitehaven business to receive an Inner City Economic Development (ICED) loan to assist with interior improvements.
Pro Aesthetics Training Center, founded by Terica Fitzgerald, offers state board approved aesthetician (i.e., skin care specialist) training. A Native Memphian, Mrs. Fitzgerald grew up in Whitehaven and has been a practicing aesthetician for over 17 years.
The training center will be located within the Bellbrook Industrial Park along Brooks Road conveniently located close to interstate 55 and Elvis Presley Boulevard. Bellbrook Industrial Park has 13 buildings spanning over 100 acres and offers easy access for students and visitors. The $11,000 EDGE ICED loan will help with interior improvements including new flooring, classroom improvements in addition to training equipment and furniture for a total capital investment of $24,690. The company will add two new jobs.
“Mrs. Fitzgerald’s vision for transforming this space into an active academy addresses two critical economic concerns - renovating and activating vacant space and providing skilled training for Whitehaven residents. We are pleased to be able to continue our investment in the Whitehaven neighborhood and to provide critical financing to support a locally owned small business.” stated EDGE President Reid Dulberger.
In addition to the 750 hours required for students to take the state board test, they will also receive training in spa business management and education. This will allow a more in depth understanding for students that wish to open their own spa business. Pro Aesthetics Training Center will also provide coaching services to licensed professionals for a fee, reduced price services to the public, and skin care items for purchase.
The EDGE Economic Development Finance Committee also approved two COVID-19 relief NEED grants. The Cut Barber & Styling Salon located in Whitehaven and Lux Transport of Memphis both received $5,000 assistant grants. The NEED grant program was created to provide relief to businesses that have experienced at least a 25% loss in revenue as a result of COVID-19.