–An Algona business is expanding its space and service area with assistance from the City of Algona and the Algona Area Economic Development Corporation.
Bare Beauty Studio has received a $20,000 City of Algona Revolving Loan and a $5,000 forgivable loan from the AAEDC. The new studio, which is owned and operated by Emerald Buscher, offers six different treatment rooms that will accommodate a dermatologist, massage therapist and cosmetologist, in addition to Buscher and a second esthetician.
The City of Algona’s Small Business Revolving Loan Fund has loans available between $5,000 and $20,000 per applicant. The program guidelines limit the interest to half of the prime interest rate, with a maximum of 2.5%. The mission of the fund is to aid business start-ups and existing businesses with expansion, remodeling, or relocating to Algona or to facilitate business succession.
The Algona Advantage Program was created by AAEDC in 2023 to attract new businesses to the area and promote the expansion of existing businesses that will diversify or enhance the local business economy. The Algona Advantage Program offers a forgivable loan of up to $5,000 to qualifying businesses relocating to or expanding within the City of Algona.
For more information about the programs you can all Barb Smith at Algona City Hall at 515-295-2411 or go online to www.algonaiowa.gov or www.discoveralgona.com.
