CLIENT SPOTLIGHT
iGlam Lash & Beauty
BBIF’s Role in Boosting a Beauty Business in Jacksonville Amid Fight With Predatory Loans
DEMOGRAPHIC
Beauty & Personal Care
LOCATION
Jacksonville, FL
In the bustling urban landscape of Jacksonville, Florida, iGlam Lash & Beauty LLC represents a vibrant example of entrepreneurial dedication and empowerment. Founded in 2017 by Charnae Wynn, a BIPOC entrepreneur, this beauty venture started with a deep passion for lash extensions. Over half a decade, iGlam has evolved into a robust business, providing diverse beauty services, professional training, and retail products.
LOAN PROGRAM
SOAR Loan Fund
THE CHALLENGE
Overcoming Adversity in the Face of Pandemic
iGlam Lash & Beauty's journey has been fraught with significant hurdles, exacerbated by the COVID-19 pandemic. Staffing issues and operational uncertainties were compounded by financial strains, particularly a cycle of predatory loans that threatened the financial stability of the business. Despite experiencing substantial revenue growth, the challenge of escaping these harmful financial products and accessing healthier, traditional financing options remained a significant barrier due to the business's credit history and the tough market conditions.
THE SOLUTION
Tailored Financial Solutions for Sustainable Growth
At a crucial time, BBIF stepped in to aid iGlam. They provided much-needed capital and consulting services, empowering Charnae to address immediate financial needs and plan for long-term expansion. This support included loans for working capital that went towards investments in staff training, remodeling efforts, and enhanced marketing strategies, which were pivotal in navigating the business through turbulent times.
I’m very grateful I had the opportunity to be funded by a team dedicated to the growth of minority business owners
Charnae Wynn
CEO & Owner
THE IMPACT
A New Chapter of Growth and Empowerment
The partnership with BBIF proved to be transformative for iGlam. With the new capital, Charnae was able to focus more on strategic decision-making, brand development, and empowering her staff. The establishment of standard operating procedures further solidified the foundation for scalable growth. iGlam does more than offer exceptional beauty services—it also serves as a pivotal training hub for aspiring beauty professionals, illustrating a powerful story of resilience and empowerment. Charnae's experience with BBIF underscores the significance of community-focused financial support, especially for BIPOC entrepreneurs, highlighting a journey that not only supports a business but also fortifies a community.
