LOAN OVERVIEW

Borrower: Neecie’s College of Barbering
Loan Amount: $185,000
Location: Camden, SC
Project Type: Community Business

SITUATION

Audrey Boykin is the President & CEO of Neecie’s College of Barbering, located in Camden, SC. Neecie’s was founded 10 years ago, and provides students with the training needed to pursue careers as master barbers and beauticians. The college saw a steady increase in enrollment, and soon needed a larger space to accommodate the growing class sizes.

SOLUTION

Audrey began leasing the school’s current space in 2014 and has since made substantial improvements to the property. When the opportunity to purchase the building presented itself, Audrey knew that doing so would give her more control over her business expenses, allow her to build equity, and make future school expansions possible. SCCLF saw the opportunity to support a small business owner in her choice to build wealth through asset ownership and worked with her to finance the $185,000 loan to purchase the school’s building.

IMPACT

As a result of the purchase, Neecie’s College of Barbering will be able to preserve eight full-time jobs, with the potential to create two more jobs as the school grows. Further, the building can be leveraged in efforts to make future expansions for the school, as Audrey hopes to one day have a separate space for the cosmetology classes. Owning their building, will be better position Neecie’s College of Barbering to remain a fixture of South Carolina’s growing diverse small business community for years to come, while also supporting other aspiring entrepreneurs as they gain the skills needed to pursue their own careers.

Learn more about SCCLF’s community business lending program here