EDA grant helps cover going into business costs
NEW ULM — Simple Skin Med Spa received a $10,000 Small Business Incentive Grant from the New Ulm Economic Development Authority (EDA) Monday.
Simple Skin Med Spa is located at 1511 N. Broadway above InStyle Salon and is operated by Carrie Reinhart. The business opened in December 2021 and operates medical spa treatments including botox injections, microneedling, chemical peel and hydrafacials.
Reinhart said the grant will be a tremendous help to her new business. The funds will be used to cover start up costs like equipment.
EDA Housing Coordinator Heather Bregel said typically, the EDA sets aside $50,000 each year for the Small Business Incentive Grant, but in 2022 it was increased to $60,000 due to demand. Bregel said there were already three applicants in January. At this time, the EDA has received six applications for the grant in 2022.
Bregel encouraged any new business to apply for the grant. She said there is currently no waiting list for this grant, but would be willing to create a waiting list if there was demand.
Though all grant funding in 2022 is earmarked, new applicants could at least be eligible for funding in 2023.