• detail image of project

    $2.9 MM of NV State NMTCs & $2.1 MM Loan Expands 1st African American Owned/Operated Cosmetology School in Las Vegas

  • detail image of project

    $2.9 MM of NV State NMTCs & $2.1 MM Loan Expands 1st African American Owned/Operated Cosmetology School in Las Vegas

  • detail image of project

    $2.9 MM of NV State NMTCs & $2.1 MM Loan Expands 1st African American Owned/Operated Cosmetology School in Las Vegas

  • detail image of project

    $2.9 MM of NV State NMTCs & $2.1 MM Loan Expands 1st African American Owned/Operated Cosmetology School in Las Vegas

Expertise Cosmetology Institute – Las Vegas, NV

Expertise Cosmetology Institute (ECI) recruits and teaches students to master the art and sciences of the Cosmetology industry. Students benefit from ECI’s multi-cultural, comprehensive training in all hair types, with financial aid available for those who qualify. ECI is the first African American-owned and operated school of cosmetology in Las Vegas, NV.

Clearinghouse CDFI provided a $2.1 million bridge loan and $2.9 million of Nevada State New Markets Tax Credits (NMTCs) for the growth and expansion of ECI. U.S. Bancorp CDC facilitated the financing in combination with Stonehenge Capital, who invested the Nevada State NMTC equity.

ECI will use the funds to expand Expertise Barbering Institute programs and the Expertise Kids Campus—the on-site daycare center for the children of students. ECI expects to hire two high level administrators to support operational growth while also allowing the school to graduate and facilitate employment of 20 additional students annually.

Clearinghouse CDFI also provided $4.5 million of NMTC allocation and a $2.5 million loan in 2018 for ECI to construct the daycare center and expand the school facility, along with $234,000 in financing in 2013 for ECI to establish the original, full-service salon.


Download the PDF: Just Funded by CCDFI – Expertise Cosmetology Institute – 2021

"Thank you, Clearinghouse CDFI, for assisting Expertise Services by providing the opportunity to manage and grow Expertise Kids Campus into a state-of-the-art childcare facility and to recruit and retain qualified employees for Expertise Inc."
- Gwen Braimoh, Owner & Executive Director, Expertise Cosmetology Institute
Financing Provided:
$2.9 Million of Nevada State NMTCs & $2.1 Million in Financing
Location:
Las Vegas, NV
Impact:
- Expands Expertise Kids Campus & Expertise Barbering Institute programs
- Boosts ECI's internal administrative capacity via the addition of 2 new employees
- Allows the school to graduate & support employment of additional 20 students annually
Purpose:
Strengthen & support the growth & expansion of African-American owned/operated small business in an economically distressed area
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