A hair salon, Vinny Brennan Hair Lounge, has secured over £13,0000 funding from First Enterprise – Enterprise Loans under the British Business Bank’s Start Up Loans programme to invest in purchases of essential equipment and marketing activities.
Vinny Brennan Hair Lounge is a women’s hair salon in Congleton, which excels in curly hair expertise.
Vinny Brennan, the founder, holds a Hair Professional diploma with distinction and has over six years of salon experience. His talents were showcased at Cheshire Fashion Week 2022, and he won first place in the Quif Centre Stage competition 2022, hosted by “How To Cut It”, the UK and Ireland’s number one and original hair industry podcast.
The funding from First Enterprise – Enterprise Loans will be used to purchase essential equipment such as hairdryers, straighteners, and a new computer system. It will also be used for marketing purposes, such as window display advertising, leaflets, service menus, paid media and e-commerce development.
First Enterprise – Enterprise Loans provides government-backed business loans ranging from £500 – £250,000 for start-ups and SMEs that are unable to borrow from traditional high-street lenders. The not-for-profit organisation reinvests profits into loan funds to further support economic growth and job creation in the local communities.
Vinny Brennan, Founder of Vinny Brennan Hair Lounge, comments: “Start Up Loans’ funding significantly boosted our salon’s profitability, particularly by enabling us to engage in bulk purchases of professional and retail products at lower prices. Throughout the loan application process, I was provided with invaluable support by my adviser who assisted me in enhancing my proposition and strengthened my application.”
Bhovinder Nagra, Business Adviser at First Enterprise – Enterprise Loans, comments: “Vinny is a national award-winning hair stylist with lots of ambition. He has found a terrific location for Vinny Brennan Hair Lounge and put a great business plan together. His credentials were outstanding for ownership of a business like this. Vinny was incredibly determined and passionate about launching and developing his dream business and I was delighted we were able to assist.”
Start Up Loans, part of the British Business Bank, has recently announced Enterprise Loans East Midlands (ELEM) as the new regional Business Support Partner (BSPs) for the scheme.
Richard Bearman, Managing Director of Small Business Lending, British Business Bank commented: “We’re delighted that through our Business Support Partner, First Enterprise – Enterprise Loans, we can support Vinny to expand his start-up business and serve his customers in Congleton. It’s an example of how Start Up Loans help businesses from all over the UK to get up and running and often to grow, accessing funding and support they might otherwise not be able to get. It’s inspiring to hear from Vinny that the support has helped boost the salon’s profitability. We wish Vinny and his team all the best going forward.”