As a current nail salon owner, Elissie Railey had dreams to expand her dynasty, but needed serious cash to make it all come true. This single mom and Army Veteran has been in the beauty industry for the last 6 years.
“I have always had the heart to help people. I started with doing hair in cosmetology school and eventually transitioned over to nails. Now, I’m thinking about the health aspect of beauty. I became interested in starting a medical spa because I’m passionate about skin care, staying healthy, and helping people gain the nutrients that they need in order to carry out their daily functions.”
With 10 employees and a thriving nail salon, Elissie decided that it was time to move forward with expanding to the med spa. Determined to succeed, she began making connections with local health professionals and she even enrolled into a fast track nursing program. After the total amount she would need to get started, Elissie realized that this venture would be difficult to bootstrap. This sparked her interest in looking at business funding opportunities that were available to her as a future start-up owner.
“I started looking at getting a business loan for my med spa last year, but I struggled to find what I needed since I would be considered a start-up.”
“When I was starting my nail salon, I was rejected over and over again. The banks never told me why and it really discouraged me. It took me several years a lot of running around before I got anything. I did not want that experience, again.”
Elissie was skeptical that she could receive a large amount of funding for new venture but after hearing about the success of others, she stayed the course.
Luckily, Elissie found the Business Funding Institute and it gave her the tools, resources, and knowledge so that she could borrow with confidence.
“And then…all of a sudden, a light came on. I found this online app that walked me through the process of everything I needed to do before I reached out to any bank. They showed me exactly what lenders for: how to calculate my bank rate, my 411 listings…it was so much.”
“I gave the Business Funding institute a try because I don’t like failure. I don’t like rejection. They presented a fail proof option so I could be guaranteed to receive the funding when I was ready to get started. And that’s exactly what I wanted and what they delivered.”
“The process was not difficult at all. I did everything I was told to do. The Business Funding Institute showed me how to build my business credit so I didn’t have to use my personal credit for the loan and then app told me know exactly what loan programs I qualified for. The process did take me about 4 months to do, but I wanted to make sure I did everything correct and exact.”
Elissie was able to secure $2 million dollars in SBA loans that gives her time ample amount of time to get started. She has found the perfect location and has plans to hire a designer, ensuring the best aesthetic for her potential clients.
“It seems like dream come true and it’s crazy that the average person wouldn’t know to get help when it comes to business loans.”
“I feel like the average person has a great business idea, goes to the bank for a business loan, gets rejected, and just keep moving on with their life.”
“ If there is a business that you want to start or something that you want to do, go after it with your whole heart and don’t give up.” Elissie continues to inspire women of color, single moms, and entrepreneurs around the globe with her tenacity, willingness to succeed and unstoppable drive. Elistic Med Spa is on track to open Spring 2023 servicing clients looking for a seamless, luxury experience.