Optima Beauty is a beauty supply retailer that has been operating in Jackson Heights, NY, since 1993. Owner Andy Hong knew he would need financing to strengthen and prepare his business for cyclical downturns and establish a business credit profile. Mainstream lenders approached him, but he turned to Accompany Capital instead after meeting staff members at a free workshop held by the Queens Chamber of Commerce.
Andy recognized the significant value Accompany Capital could offer his business both through the CDFI’s small business financing and technical assistance services tailored to his specific situation and needs. In addition to participating in a business credit workshop led by Accompany Capital, he also received two PPP along with a line of credit from Accompany Capital made possible with grant funding from the Wells Fargo Diverse Community Capital Program. Through Accompany Capital’s financing, Optima Beauty was able to maintain 5 employees even throughout COVID-19 closures.
“It can be hard to find the resources small businesses need, when they really need it. Accompany Capital was there for me, especially during this crisis. It was hard, but we are still in business and made it through with their help,” Andy said.
Accompany Capital Services:
• PPP Loan