Things have been busy since the doors opened at Salon 210 in Winsted this summer. After completely renovating the former Jerry’s TV and Appliance shop, owner Emma Olgesby opened in August, added a stylist in September and got married in October. She’s had help navigating business ownership from Southwest Initiative Foundation’s (SWIF) Microenterprise Loan Program, which also financed some of her startup costs.
“I grew faster than I could have ever dreamed of,” said Olgesby. “I have been so overwhelmed with all the love and support from the city of Winsted and surrounding towns.”
After graduating from Regency Beauty Institute in Minnetonka in 2010, Olgesby worked at salons in Woodbury and Marshall. She started picturing a salon of her own in her hometown of Winsted, and her idea became a reality when she opened the doors to Salon 210 on Aug. 22.
Named for its location at 210 Main Ave. W., Salon 210 has a fun, modern vibe. It serves men and women of all ages with cuts, colors, nail services and more. There are four booth spaces for stylists to rent, and Waconia native Maddy Widmer claimed one of them in September. She’s been a stylist since 2014 and specializes in extensions, color techniques and cuts. She also offers facial waxing. Olgesby, who has a Salon Manager’s License, has additional plans to expand, including a massage therapist, esthetician and possibly a small boutique.
SWIF loan funds helped finance startup costs for Salon 210.
“Emma has really made an impression in Winsted with her passion and creativity,” said SWIF Program Officer Jackie Turner. “SWIF is happy to help support her entrepreneurial dreams and bring this new business to Winsted.”
Loan programs have been a key function of SWIF since its inception to support communities and businesses throughout southwest Minnesota. In 2001, microlending was added to existing programs as a tool to support small businesses and people looking for self-employment opportunities by providing market-rate loans.
Microloan clients receive free technical assistance from SWIF staff — who all have personal business experience — to improve their business management skills. Areas of support include business planning and reading financials, QuickBooks training, marketing assistance and other training opportunities for the life of the loan.
This microloan program receives funding assistance from the U.S. Small Business Administration and U.S. Department of Agriculture. For more information, contact SWIF at 800-594-9480, 320-587-4848 or firstname.lastname@example.org.
About Southwest Initiative Foundation
Southwest Initiative Foundation is an independent community foundation supported by individuals, families, businesses, and organizations who want to strengthen southwest Minnesota. Since its founding in 1986, SWIF has contributed more than $75 million through its grant and loan programs. Its business finance programs have helped start or expand more than 700 businesses, which have created or retained more than 8,600 jobs. SWIF has also established 26 community affiliates and more than 100 school, donor-advised and other funds, as well as 16 Early Childhood Initiative coalitions to support young children. SWIF has received 1,730 acres of farmland through our Keep It Growing℠ farmland giving program. In 2016, SWIF launched the Grow Our Own Initiative to align its work and ensure all southwest Minnesota kids have the best start to life. The Southwest Initiative Foundation is an equal opportunity provider and employer. To learn more, visit www.swifoundation.org.
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