In early 2014, Phebe Hines closed on a loan with Legacy Redevelopment Corporation (LRC) to refinance the mortgage on the building that houses her business, Revelations Two Hair Salon. Phebe initially purchased the property in 2002 with a loan through an area bank.
More than a decade later, the small business owner knew her payments were far higher than they needed to be. Fortunately, a client suggested she call LRC.
“Refinancing with Legacy was one of the best business decisions I’ve ever made,” Phebe stated. “It was a blessing that not only helped to free me financially, it freed my mind and spirit.”
Phebe recalls being nervous about beginning the refinancing process, and not knowing what she would need to have in order to supply to a lender.
“Legacy made it such a simple process for me,” Phebe said. “I brought in everything that I thought I needed, and they critiqued it and fine-tuned it. In a very short time, they helped me secure just what I needed for approval.”
More than the ease of the process, Phebe remembers how LRC staff made her feel. “They were very patient with me and never once made me feel insecure or like I was a burden,” she recalled. “I truly felt like they cared and were interested in helping me and my business.”
“We were thrilled to be able to help Phebe lower her monthly payments and free up capital to invest back into her business,” explained Ngozie Omegbu, LRC’s Chief Operations Officer. “LRC is uniquely focused on nonprofits and small businesses, many of which are minority-owned, just like Revelations Two Hair Salon.” She added, “By helping small businesses gain added capital, LRC is working to revitalize communities throughout Milwaukee, one loan at a time.”
Today, Phebe feels comfortable with her monthly payment and knows that she can turn to LRC for whatever help she needs with her business. “I know they are there to help me succeed,” she said. “All of my dealings with them have been so detailed and professional. It couldn’t have been a better experience.”
Located at 5258 N. 76th St., Revelations Hair Salon specializes in sewing weaves, professional hair braiding, haircuts and coloring. Along with Phebe, four stylists offer services at the Northwest side beauty salon and barber shop.