Leslie Messer (left) of RED presents Tina Turner of Planet Hair with funds provided by the RLF with Doug Hill of Stockman Bank (right).
Richland Economic Development is pleased to announce that the Revolving Loan Fund (RLF) committee has awarded its seventh loan for the expansion of an existing business in Sidney. Tina Turner was approved for a loan to make renovations to Planet Hair.
Tina completed an application in partnership with her lead lender, Doug Hill, Stockman Bank, and presented this project to the RLF committee for review. The funding request was to purchase new equipment, as well as remodeling costs for Planet Hair.
She explained that without the assistance of the RLF, it would have been very challenging to add additional equipment lines, remodel her salon, and add additional staff. She has a renewed vision about the services that her salon provides, and for her loyal clientele.
The RLF committee is pleased to assist Tina in this business venture. The intent of the RLF is to offer an additional tool to support new business and business expansion projects. Doug Hill states, “The financial support that Tina received from the Revolving Loan Fund made this transaction possible. We are excited to help her to finance the building, and keep this business in our area.”
Richland Economic Development encourages existing businesses and new business start up projects to consider the RLF as a resource. The RLF loan pool of $1,000,000 is not free money, but an investment made by the Richland County Commissioners, to assist in the development of business in our economy. The application and review process is achievable, and done in conjunction with the area financial institutions in Richland County.
If you or someone you know is thinking of expanding or launching a new business in Richland County, contact any of the local financial institutions or Richland Economic Development today for an application.
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