To be perfectly clear, San Diego entrepreneur Cindy Cate was very pleased in 2015 with what she’d created from scratch — the Hello Birdie Nail & Lash Lab in North Park, a thriving San Diego neighborhood. Customers were loving her nail-art creativity and the friendly, welcoming atmosphere.
But there was just so much more she wanted to do: push industry boundaries, grow faster, create more jobs and put smiles on more customer faces. To get there, she needed to add more stations in the Hello Birdie “nest,” add more staff to her flock and expand her retail line of products, all of which required financial flexibility at a time when she was somewhat constrained by high-interest debt.
So faced with these challenges, Cindy went on a hunt for more affordable financing to achieve her vision. After getting an all-too-quick no from a large bank, she saw a notice posted by the North Park Main Street organization about a new loan program offering fixed-rate financing capped at 5 percent. Intrigued, she called CDC Small Business Finance, the nonprofit lender partnering with the City of San Diego on the Small Business Collaborative program1 to help business owners in low-to-moderate income neighborhoods like North Park.
CDC Small Business Finance believes the flow of low-interest capital paired with customized business coaching can deliver the boost these areas have needed for a long time. If a business succeeds, it positively impacts its employees and those who live in that community.
The coaching Cindy received as part of this unique financing program came from our small business loans and small business advising teams.
“The loan process was easy,” she said. “CDC [Small Business Finance] anticipated my questions, provided answers, and gave me a timeline of what to expect.”
Her $100,000 “Oprah” Moment
It was not long before Cindy got an email informing her that she had been approved for a $100,000 loan.
“It was a real Oprah moment for me, a huge inner celebration,” she said, holding back tears. “It was the first time I had pursued something so big on my own and succeeded.”
Fortified with new financing, Cindy refinanced a high-interest loan and credit card debt and invested in new tenant improvements to accommodate new, artistic clinicians. Her team has grown from five to 19 employees who all buy into Hello Birdie’s emphasis on helping customers leave the busyness of life at the salon door so they can relax and have fun.
While supporting and nurturing her young team takes up a lot of her time, Cindy leaves room in her schedule for meet-ups with other small business owners where she benefits from the exchange of ideas and sharing what she’s learned as an entrepreneur. Her best advice seems simple and yet profound.
A Tip for Fledgling Entrepreneurs
“Don’t let fear stop you from starting,” she said. “If you have the heart and passion, trust than you’ll find support for your dream along the way.”
Cindy continues to reap the benefits of her new relationship with her CDC small business advisor, who she says is always available to explore new ideas, including the prospect of hatching another salon, perhaps in North County, when the timing is right. In the meantime, she’s content with what she calls her most satisfying moments — walking into her fully booked salon and seeing clients and staff having a wonderful time.
“When Hello Birdie is filled with the fruits of my best intentions, that’s when I feel the most grateful,” she confided.
- This Program is funded in whole or in part with Community Development Block Grant program funds provided by the U.S. Department of Housing and Urban Development to the City of San Diego. ↩︎
Learn more about the SBA Community Advantage Loan or talk to one of our SBA loan experts in your area for details.
