SBDC Helps Family Business Navigate Covid Funding Complexities

Warren and Kari Shulman started construction of their business, Valley Salt Cave, in 2019 before the Covid pandemic began. The holistic health and wellness center, with a Himalayan salt cave and salt room, offers dry salt therapy (Halotherapy), yoga, massages, and more. They also have a retail store. Not long after the Covid shutdown, they were faced with a dilemma. They had been rejected for an EIDL loan because of how recently their business had been formed, but they could not access private funding because they had spent down their savings before applying for loans.

Solutions

With SBDC advisor Brett Dickstein’s help, the business partners were able to file for an EIDL reconsideration and increase in 2022, and after responding to numerous requests for additional information and getting the SBA to address a bug in their online portal, Valley Salt Cave was finally awarded an EIDL loan. Dickstein referred the client to several private funders as well, and they successfully accessed more capital.

Results 

The Shulmans are now working with a pro-bono marketing advisor referred by Dickstein and have received coaching from SBDC advisor Karie Armstrong on negotiating for some rent relief with their new landlord.