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Pure Bliss Day Spa
WACIF Bridge Loan Enables Pure Bliss to Purchase Building for Day Spa
A $350,000 bridge loan from the WACIF has enabled Pure Bliss, LLC, to purchase a building at 7329 Georgia Ave., NW, which will be renovated to become a full service day spa.
Under a grant from the Department of Housing and Community Development, WACIF provided technical assistance to small business owners on Georgia Ave and H Street, NE. WACIF's partners in the program were Georgia Avenue Business Resource Center (GABRC) and H Street Main Street. The goals of the program were to help business owners become eligible to obtain loans to start a business, renovate property, buy equipment, hire staff, increase inventory, and pay for advertising and marketing.
By participating in the program, ALice Love, a co-owner of Pure Bliss, said she received a wealth of information regarding starting and running a business, and was able to write a business plan.
"The help I received from GABRC and WACIF was immense," stated Love. "After WACIF staff reviewed the Pure Bliss business plan, they were sure that they could find financing for the business which would include purchase and renovation of the building and purchase of equipment. WACIF staff helped me with financial projections, in terms of building renovations and equipment costs, and then recommended and referred me to Virginia Assets, the SBA 504 program lender for the District of Columbia."
When Love received word from Virginia Assets that she was a "strong candidate" to receive an SBA 504 loan, she entered into a contract to purchase the building on Georgia Avenue, but only had a 90-day window to obtain financing. Love applied to WACIF for a bridge loan which was repaid when the Pure Bliss SBA 504 Loan closed.
In 2003, WACIF's Board of Directors authorized short-term small business loans for businesses participating in the Georgia Avenue Business Express and H Street Business Express programs. Love said that she is thankful that WACIF was able to provide the gap financing that she needed when she needed it. "Without WACIF coming through the bridge loan, we would have lost the building", she said. She added that business startups should take advantage of all the seminars, workshops and technical assistance that WACIF offers in order to be successful.
Pure Bliss day spa upscale operation consists of a reception and retail area, nail and pedicure center, and multipurpose rooms for facials and massages. "The ambiance is relaxing and soothing to allow our clients to release, relax and regroup," she said.
Pure Bliss Day Spa
7329 Georgia Ave Nw,
Washington, DC 20012
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 Funded in part through a cooperative agreement with the U.S. Small Business Administration.
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