Indulge Spa Opens its Doors with Help from Commerce's Minority Business Development (MBD) Loan Program

In December of 2007, Dione Laufenberg submitted a comprehensive plan to Commerce's Bureau of Minority Business Development to open a new full-service spa on Madison's East Side. Prior to coming to Commerce, Laufenberg said, "In my quest to find financing for my day spa the biggest challenge was to justify the amount of money I needed to borrow for construction and build-out of the space which was essential to my ability to provide the unique services my business offers. A day spa has unique characteristics that you won't find in a move-in ready lease property."

Her vision was of a luxurious and gender-neutral environment devoted to health, wellness, and beauty for both men and women. Laufenberg is especially interested in reaching the growing male market, because "nationally, our industry is seeing an upward trend with men who use spa services. I'd like the men in the area to know that they can Indulge too,"she said.

The Minority Business Development (MBD) loan program is designed to provide financial assistance for the start-up and expansion of minority-owned businesses in Wisconsin. This program provides low interest loans to assist in the development of minority-owned companies.

Eligible applicants are Minority Businesses—businesses that are at least 51 percent owned and controlled by a person or persons of an ethnic minority group—that have a comprehensive business plan fully describing the proposed project and that meet specific criteria. Eligible Project Costs are limited to fixed asset financing and working capital.

When considering an MBD Loan application, the committee considers all aspects of the proposal, including project viability, the education, training and work experience of the applicant(s), as well as whether the business will have a positive economic impact upon the local community and create jobs in the target area.

In March of 2008, The MBD Loan Program committee approved funding for Dione's proposal. The board cited her years of experience and training in the industry, as well as the number of jobs created, as two of the applicant's strengths.

With the help of the MBD loan, Indulge Spa opened its doors on Wednesday, October 8, 2008. The 1,625 square-foot spa located behind East Towne Mall includes a relaxation lounge, two treatment rooms, which can connect to accommodate couples/group sessions, a skin care suite, a nail spa and more.

Without the help she received from the Minority Business Development Loan program, Dione might not have found the funding necessary to realize her goals.

"The Minority Business Development Fund gave me the ability to fulfill my dream and uphold the vision that I had for Indulge Spa" she said.

The opening of Indulge Spa is only one example of how the MBD Loan Program has been successful in its mission to generate and foster the growth of minority businesses in the State of Wisconsin. For further information about the Minority Business Development (MBD) loan program, you may visit the MBD Loan Program website or contact the Bureau of Minority Business Development and Kema Williams by phone at (608) 267-9550 or by email at COMMBD@wisconsin.gov.

Visit Indulge Spa's website at www.indulgespa.net.

-- Gianna Taylor