SBA 7(a) Loans up to $500k Now Available

Business Insights

Meet Chelsea Joffray – The Hideout Salon and Lounge

Julia Lukicheva
5 Minutes to read
“For any small business, you need funding before you know you need it.”
Chelsea Joffray
Owner and CEO of The Hideout Salon and Lounge in Nashville, Tennessee

A place where you feel welcome the moment you walk through the front door. An inclusive and comfortable space, where experienced and knowledgeable professionals make you feel beautiful and empowered with an amazing haircut. Some say it’s a place you never want to leave. 

Chelsea Joffray is the proud owner of this oasis called The Hideout Salon and Lounge in Nashville, TN. She started off with a small salon and one employee a few years back, but her client base quickly multiplied, and business expanded. She was seeking financing to support her exponential growth and the local credit union that she banked with was not able to fulfill her need. In addition to the capital need, Chelsea learned about the Paycheck Protection Program which the credit union was also unable to assist her with and ultimately referred her to NEWITY. Not only did NEWITY assist her with PPP all the way through full forgiveness but was able to also secure a SBA 7(a) loan. 

Chelsea’s credit union originally referred her to NEWITY to apply for a Paycheck Protection Program loan.  NEWITY assisted her with PPP, from her application for capital through to her application for forgiveness, and also secured an SBA 7(a) loan for her salon.  

She describes her overall experience with NEWITY as amazing.  The customer journey was fast, easy, simple, and to the point. It’s what every business owner wants when it comes to financing. 

Chelsea now owns both a new beautiful salon at 2605 Gallatin Pike, Nashville, Tennessee 37216 and a beauty bar located at 917 Gallatin Ave Nashville, Tennessee 37216. Her one employee grew to a full-time staff consisting of 29 employees. Her vision and determination together with access to capital made The Hideout Salon and Lounge a successful reality. 

To qualify for an SBA 7(a) small business loan, your business must be:

  1. U.S.-based and operated
  2. Owner supported / owner funded
  3. Eligible per the SBA’s requirements

Your loan amount will determined by the business’ average annual revenue, FICO score, and years in business