Expertise Cosmetology Institute (ECI) is the first African American owned and operated school of cosmetology in Las Vegas, NV. Located in a highly distressed area, ECI offers low-income students comprehensive training and assisted job placement after program completion.
Clearinghouse CDFI provided $4.5MM of New Markets Tax Credits allocation and a $2.5MM loan for ECI to construct an expanded school facility and develop a daycare center for the children of its students.
Clearinghouse CDFI also provided $234,000 in financing for ECI to establish the original full-service salon in 2013. This project created 40 construction jobs and 22 full-time jobs, 50% of which were to low-income individuals and accessible to local residents. The expanded school facility serves over 160 students annually.
Download the PDF: Just Funded – Expertise Cosmetology Institute