Red Angel Hair in Hyde is set to expand with a £10k loan from Business Finance Solutions (BFS), the North West delivery partner of the government’s national £310m Start Up Loans programme and a lending partner of the Greater Manchester Combined Authority.
With 30 years of hairdressing experience, Vanessa Kovic launched her unisex salon on Market Street in Hyde earlier this year, offering a range of hair and beauty services including cuts, colour, pamper parties, make-up and StyleStation − a collection of quick and affordable up-dos for special occasions.
Vanessa is using her loan from BFS to expand her current range of services, including launching a new area that is dedicated to female Muslim clients who require a private area to remove their hijabs. The funding will also be used to purchase more equipment, develop the salon’s website, invest in new signage and to bring on board additional stylists as the business continues to grow.
Vanessa said: “ I went to BFS because I wanted Red Angel Hair to be able to bring the kind of service, facilities and expertise to Hyde that people have traditionally only had access to in the city centre. John Cannon and the team at BFS worked through my business plan with me and helped me to quickly access the funding I need to take our services to the next level.
“We have a wide range of clients – from professionals to schoolgirls − and I’ve been particularly delighted to use the loan to create a relaxing and professional space for our Muslim customers to have their hair cut privately. This dedicated space, alongside our existing expert hair, beauty and styling services, means that we are creating a unique and stylish salon for the local area.”
John Cannon, Business Advisor at BFS, part of The Growth Company, said: “Vanessa is the kind of entrepreneur that Start Up Loans were created for – hardworking and ambitious entrepreneurs who need an injection of funding to help take their business to the next level. Vanessa’s 30 years’ of experience has enabled her to listen to her customers and respond with the services and skills they need, such as the StyleStation and a dedicated private area for her Muslim clients.”
BFS will see £15 million allocated to new start-ups across the North West over a two year period, creating around 3,000 new businesses and over 5,000 new jobs in the region. BFS is the finance arm of The Growth Company and supported by the GM Combined Authority and Greater Manchester Local Enterprise Partnership. BFS is a key alternative source of funding for businesses in Greater Manchester and has grown a comprehensive range of finance products from £500 through to £500k, with support on raising early stage equity through the Co Angel Investment Service of up to £2m. BFS currently manages over £100m of publically-backed small business investments across the UK.
Find out more about BFS finance at www.business-finance-solutions.org.uk or by calling 0161 245 4737.
