Southern Indiana businesses awarded Caesars Foundation loans
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A wellness center, artisan-perfume shop and pizza restaurant with an indoor golf simulator are the latest recipients of small-business loans from the Caesars Foundation of Floyd County.
Sukhino Express Wellness, Vetiver Aromatics and The Slice Pizza and Golf each received loans from the foundation’s Small Business Revolving Loan Fund, a news release from economic development organization One Southern Indiana said.
“The Caesars Foundation encourages economic development in Floyd County, and small businesses are the heart of our community,” foundation Executive Director Tyler Bliss said in the news release. “We look forward to watching these businesses grow.”
The private philanthropic foundation was created in 1999 to support nonprofits, local governments and others in Floyd County. Caesars operates the nearby Caesars Southern Indiana casino and hotel in Elizabeth.
Small-business loan amounts range from $5,000 to $50,000 with a maximum interest rate less than the prime rate, the foundation said. Maximum terms are 10 years for land and building loans, five years for equipment loans, and two years for working capital loans.
Sukhino Express Wellness, southern Indiana’s first float and halotherapy center, plans to open a satellite location at 137 E. Market St. in New Albany. The site will feature infrared sauna, red light therapy, massage chairs, and vibroacoustic sound therapy. The existing site is at 802 E. Market St. in New Albany.
Vetiver Aromatics, which specializes in supplies for artisan perfume-making, plans to open a retail location that will feature custom perfume design and educational workshops. The news release said Vetiver Aromatics is one of the few U.S. retailers of perfumer’s alcohol.
The Slice Pizza and Golf is planned off exit 118 on Interstate 64 in Georgetown. Co-owners Levi Donaldson and Michael Wrege, who both work at the Union Restaurant and Game Yard, plan a venue with 100 indoor seats, 30 outdoor seats, a full bar and a golf suite in a party room.
“One Southern Indiana is excited to see additional growth in the community,” said Lance Allison, president and CEO of the organization, which serves as the chamber of commerce for Clark and Floyd counties. “We thank the Caesar’s Foundation for their continued support of entrepreneurial endeavors in our region.”
For more information on the loan program, contact Rachael Armstrong at One Southern Indiana at (812) 206-9021 or RachaelA@1si.org.