Kevin Shea has been a barber in Connecticut for over 30 years and, in April 2019, realized his dream of owning his own old-fashioned Gentleman’s Barber Shop. Kevin wanted to create a luxury experience for his customers where they could sit back and watch the game, listen to music, or enjoy a local craft beer and cigar after a top-quality hot shave or styling.
Need for Capital
While Kevin had all the necessary skills to run a successful shop, the odds were stacked against him. After only 11 months of operation, COVID-19 forced him to close his doors for nearly three months. Kevin was down to the wire when he received his PPP loan, which allowed him to reopen his shop under the new COVID guidelines.
As business began to pick up again, Kevin needed to hire additional talent to grow while maintaining his top-tier reputation. He knew that finding and retaining the talent he needed would require upfront capital. The search was not easy, and Kevin had to look far and wide—even if that meant hiring talent from outside his small seaside community of Old Saybrook.
Why Capital Funds
After doing extensive research, Kevin was introduced to Capital Funds, who believed in his business enough to provide the exact amount of funding he needed. With two rounds of funding from Capital Funds, he was able to advertise on major platforms and hire two exceptional barbers who now travel in daily to work at the shop.
Capital Funds’ flexible payment options have been a great fit for Kevin and his business. Old Saybrook is a coastal town whose population doubles from Memorial Day through Labor Day. Kevin understands how much he needs to save during the busy summer season to make it through the slower months. Having the added benefit of adjusting payments based on revenue allows him to keep his business running smoothly without additional financial stress.
As Kevin’s business continues to grow, he knows exactly where to turn for his working capital needs. And we now know exactly where to go for an old-fashioned hot shave on our next trip to the beach!
Interested in learning more about how Capital Funds can help your business? Check out our product or submit your application today. Still have questions? Give us a call at 888-244-9099 or email us at info@capitalfunds.com. Our team is available Monday through Friday from 9 AM to 6 PM EST.