The 14-year-old Columbia girl whose creativity with hair barrettes has turned into a successful enterprise with worldwide sales has received a Small Business Administration (SBA) loan through Business Development Corporation (BDC).
Gabrielle “Gabby” Goodwin and her mother, Rozalynn Goodwin, will use the SBA 7(a) loan to finance inventory, refinance business debt, and further grow their business. GaBBY Bows started in 2014 and now, under the Confidence brand name, sells online through www.gabbybows.com in all 50 U.S. states and 12 countries and in retail and beauty supply stores in the United States, Canada, and South Africa.
Gabby was 7 years old when she and her mother invented a now-patented double-face, double-snap barrette. They’ve since expanded with their plant-based girls natural hair product line and two years ago launched the Mommy and Me Entrepreneurship Academy, which already has engaged more than 50 “Girl Bosses” and their mothers.
“This SBA loan is not only a vote of confidence in the business that Gabby and our family has built, it’s going to be a huge boost in our ability to provide both outstanding personal care products and inspiration to any girl who wants to follow Gabby’s example,” Rozalynn Goodwin said.
“We’re delighted that the Goodwins turned to us for assistance with their business funding needs,” said Peter Shand, President and CEO of BDC in Columbia. “Gabby’s leadership and success at such a young age is truly remarkable and we’re honored to play a part in her company’s growth.”
BDC is a non-bank commercial lending company that specializes in U.S. Small Business Administration (SBA) loan programs and the State Small Business Credit Initiative (SSBCI). The company is headquartered in Columbia, SC, and primarily serves the state of South Carolina and the Southeastern U.S.