"I always thought that an accountant and an attorney would be the critical resources for an entrepreneur. Now that I've done it myself, with the support of PNC, I realize that your business banker can be pivotal to your team and your success."
Recognizing the Potential for Greatness
A pharmacist and a stand-up comic walk into a bank. "We'd like to start a school for hair stylists," they tell the loan officer. The loan officer laughs and tells them to have a nice day as she walks them to the door.
But this was no joke. Trina Carter, the pharmacist in this scenario, had a career that offered stability and a generous income, yet she had a vision to open a school that would make a real difference in people's lives. She convinced her husband, comedian Dante Carter, to become involved. But until she and Dante approached PNC, bankers just weren't listening. Most never even reviewed the couple's carefully developed business plan.
"PNC was the only bank to take us seriously," says Trina. "They saw the potential in building a successful Paul Mitchell partner school and helped us secure an SBA (U.S. Small Business Administration) loan. They had faith in us when no other bank did, and they've supported us through every step in our growth."
Since the opening of Paul Mitchell The School - Delaware (formerly The Delaware Academy, Paul Mitchell Partner School) in 2006, Trina and her dynamic team have worked hard to build enrollment and revenues. The school, which employs 15, has grown substantially over the past year, thanks in large part to earning accreditation in early 2010 that made its students eligible for federal financial aid. "Within six months of receiving financial aid dollars for our students, our enrollment doubled," reports Trina.
Fulfilling a Dream and Then Some
Trina had always been fascinated with the beauty industry. Her mentor, the owner of a Paul Mitchell Focus Salon and Paul Mitchell Cosmetology school in Cleveland, connected her with the Paul Mitchell network. "I fell in love with Paul Mitchell's philosophy," she says. "The company not only provides outstanding education to students but also instills strong moral values. Its education process motivates students to become their best."
As her school continues to grow, Trina plans to open area salons where her highest-performing students can go into practice. She believes that Delaware is an ideal market for her salons and that PNC is the ideal bank to help her grow.
"In addition to helping us launch our business, PNC provides us with practical business solutions, from commercial checking accounts to a line of credit," Trina says. "My banker is always looking for ways to help me improve my business, and I know I can pick up the phone anytime to ask for advice. I always thought that an accountant and an attorney would be the critical resources for an entrepreneur. Now that I've done it myself, with the support of PNC, I realize that your business banker can be pivotal to your team and your success."