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**Dollhouse Beauty Salon Expansion Supported by Northern Kentucky Area Development District Program**

The operators of the Alexandria-based Dollhouse Beauty Salon have long desired to expand their business, according to officials from the Northern Kentucky Area Development District (NKADD). To achieve their goal, the salon has received crucial assistance from the Small Business Lending Program, a successful initiative managed by the NKADD.

The Small Business Lending Program, also known as the Revolving Loan Fund, is an economic development initiative launched by the U.S. Department of Commerce Economic Development Administration. It serves as a flexible and continuous source of capital for small business owners in Northern Kentucky who are unable to secure adequate private financing for projects that are economically beneficial to the region and its workforce. With an aim to support community development and job creation, the fund plays a vital role in uplifting the local economy.

The Dollhouse Beauty Salon approached the NKADD several months ago, expressing their need to expand due to high demand. Having recently relocated to a new venue, the salon found itself constrained by limited space and a growing waiting list for their services. Recognizing the salon’s potential, the NKADD approved a $50,000 loan for Dollhouse Beauty Salon, enabling them to grow and meet the demand more effectively.

The new facility, which will be located on 8252 Alexandria Pike in Alexandria, Campbell County, will not only accommodate a greater number of customers but will also offer additional services such as nail treatments. Compared to the current location, the expanded salon will have double the capacity and will employ nine full-time staff members. The residents of Alexandria, like Lisa Schmidt, anticipate the increased accessibility of the Dollhouse Beauty Salon and hope that the larger space will attract more potential customers.

The Revolving Loan Fund follows a self-sustaining model, where as borrowers repay their loans, the funds are returned to the program to be utilized for granting loans to other deserving businesses. This revolving nature of the fund ensures its ongoing availability, serving as a perpetual financial resource for small businesses.

With regards to the expansion project, NKADD Executive Director Tara Johnson-Noem states that the loan granted to Dollhouse Beauty Salon will be treated as a construction loan. The loan disbursement will be based on the submission of receipts, as a significant portion of the salon’s expenses have already been incurred. The fund’s flexibility enables businesses to effectively manage such construction-related costs.

The Dollhouse Beauty Salon is preparing for a grand opening of their new location, which will take place on September 8th, from 5 p.m. to 7 p.m. The expansion plans include adding salon stations, pedicure chairs, as well as essential upgrades to plumbing, electrical systems, and HVAC. Additionally, the loan request summary highlights other necessary improvements such as flooring, painting, and carpentry.

The loans provided by the Revolving Loan Program not only help individual businesses expand but also serve as catalysts for stimulating the local economy, creating and retaining job opportunities, and encouraging private investment in the region. For more information on the Revolving Loan Program, interested individuals can contact Tara Johnson-Noem at (859) 283-1885.

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The AI legalese decoder software can significantly aid businesses, like the Dollhouse Beauty Salon, in navigating the legal aspects associated with accessing funding programs such as the Revolving Loan Fund. By using the AI legalese decoder, business owners can easily decode complex legal terminology and gain a clear understanding of the program’s eligibility criteria, application process, and repayment terms. This user-friendly tool saves time and eliminates confusion, ensuring that entrepreneurs can effectively utilize financial resources to expand their businesses and contribute to job creation in their communities. The AI legalese decoder serves as an essential resource in simplifying legal language, empowering small business owners to access much-needed funding for economic growth.

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