Fit Culture Pilates (exterior studio front) in San Pedro, California
The Harbor-Watts BusinessSource Center helped entrepreneur Ashley Rios obtain a $128,000 loan from the US Small Business Administration (SBA) to open Fit Culture Pilates in San Pedro, creating three full-time jobs and 15 part-time jobs.

Ashley was referred to the Harbor-Watts BusinessSource by the San Pedro Chamber of Commerce in late 2018 for assistance with funding to start a contemporary Pilates and barre studio.

Working with a business coach, she developed a business plan along with projections on project costs and how much capital was needed to open the business. Ashley was approved for a loan package in early 2019 and spent the next several months negotiating the loan structure.

By mid-March, the lender committed to a $128,000 SBA start-up loan to open Fit Culture Pilates and the loan was funded on March 29, 2019.

Ashley received a referral to the Harbor-Gateway WorkSource Center to learn about programs available to help her staff her new business, and she also plans to participate in the City’s Hire LA’S Youth program, which offers 120 hours of work experience to youth between the ages of 14 to 24.

Fit Culture Pilates is scheduled to have its grand opening June 8, paving the way for three full-time jobs and 15 part-time jobs. Ashley also plans to hire two youth year round from the Hire LA’S Youth program.

EWDD’s BusinessSource and WorkSource Centers offer a variety of Business Services, including several Financial and Development Incentive Programs and a Small Business Loan Program. Learn how EWDD can help.

This story is part of the EWDD UPDATES from the week of May 13, 2019. Read this issue and more.