Nicole Perrin-Hill’s ambition of owning a beauty institute took root in childhood.
“I’ve always had a passion for the beauty industry,” says Perrin-Hill. “Ever since I was a little girl, I would take my dolls and give them all a different hairstyle. My dad was a barber stylist and I would see how he would style my mom’s hair and clothes, and I just loved everything about it.”
Perrin-Hill has been building her professional expertise for more than 17 years, and has been an instructor for 15. While owning a salon in Toledo for six years, she had the opportunity to showcase her talent at hair shows, in photo shoots, and platform work. Owning a salon sharpened her business acumen and she soon set her sights on an exciting objective: she wanted to open a cosmetology school in her home city, Columbus.
After spending many months diligently researching business plans and opportunities, Perrin-Hall sought financing through the Economic and Community Development Institute’s small business loan program. After closing a loan with ECDI, New Directions Beauty Institute cosmetology school was able to open its doors in November 2010. Promising its students “the career of your dreams in less than two years,” Perrin-Hill’s institute offers training in Managing Cosmetology, Managing Manicuring, Salon Management, and Managing Natural Hairstyling career tracks.
Perrin-Hill is thrilled to be able to educate future generations of beauty professionals.
“We see ourselves providing job development and growth in the community, as well as excellent beauty services,” she says. “We’re also offering quality education with a passionate staff to those who have the passion and the desire to be the best in the beauty industry.”
Through ECDI’s access to capital programs, Perrin-Hill is able to educate and lead future beauty professionals. Since 2004, ECDI has made more than $11 million in loans to about 550 small businesses, creating or retaining about 1,650 jobs. Every business and job created or retained equates to an increase in state and local tax dollars.
In addition, ECDI has brought millions of federal dollars into the local economy, and has helped keep those dollars circulating locally through small business capitalization.
In the past, ECDI has been able to finance businesses, like New Directions Beauty Institute, primarily through federal, state, and local programs. As the demand for our small business financing products skyrocketed, we knew it was time to create a new source for loan funds by launching the Invest Local Ohio campaign.
Every dollar committed by individual investors to the Invest Local Ohio program will be loaned to a local small business and leveraged with at least two more dollars from other ECDI loan funds and guarantees a minimum two percent return. Investors have the opportunity to lift up hardworking entrepreneurs like Nicole Perrin-Hill, whose success bolsters the local economy, creates jobs and taxpayers, and translates to more Ohioans participating in the economic mainstream.
To learn more about New Directions Beauty Institute, visit NewDirectionsBeautyInstitute.com.
If you could invest in fuller lives for Central Ohioans looking to capitalize their dream, would you? For more information on becoming an investor in the Invest Local Ohio campaign, contact ECDI President Steve Fireman at 614-732-0577 or firstname.lastname@example.org.