Habit Boutique owner on borrowing and leasing with TEDC

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“My passion and purpose are kind of one in the same, which is really just wanting to see economic development in North Tulsa,” said Habit Boutique owner Shavonna Caldwell.

“Fashion was kind of within my wheelhouse, so it just kind of made sense that this is my contribution to the economic landscape in this area since there wasn’t much here.”

Habit Boutique resides in The Shoppes on Peoria, available to lease through Tulsa Economic Development Corporation. Her business has been operating there since 2016 when she connected with TEDC to lease a space on the property. 

“Once I connected with them, they were really interested in the concept that I wanted to bring and then from there started to provide more resources and assistance to get me in,” Caldwell said.

Habit Boutique and TEDC

In 2016, not only did Caldwell begin her leasing journey, but also used some of TEDC’s lending opportunities. She received a Business Startup Loan that she used for startup costs, operational expenses, and inventory purchases as well as a micro loan.

“A couple years in, things weren’t as busy as we would have hoped or expected, and they provided a micro loan to just kind of get me over the hump,” Caldwell said. “Essentially, there is no other way that I could have got started and been open and given myself a chance to try new things, to develop a customer base– It’s the partnerships with [TEDC] that really allow you to open and flourish and do what you need to do.”

Caldwell said that her favorite part about the work that she does is connecting with people, and her experience with TEDC reflected that.

“I learned the importance of relationships from TEDC, the importance of understanding that you really can’t do any of this alone, especially a person like me that was coming into a situation where I was opening up a business in a business desert,” Caldwell said. 

“TEDC is more invested in the actual purpose and mission of what you’re trying to do within the actual community. A big bank will say ‘show me you can pay me back,’ and that’s it. TEDC does a little bit more hand holding to make sure that you’re equipped to pay them.”

“I love TEDC, and everyone is welcome to shop Habit!”

You can shop at Habit Boutique located at 1717 N. Peoria, Ste 12, Tulsa, Oklahoma.

About TEDC Creative Capital

TEDC Creative Capital (aka TEDC) is a community development financial institution (CDFI) providing progressive lending to promising start-up and growing businesses. TEDC builds equitable economic prosperity by helping small companies operate more successfully, create jobs, and advance communities! Loans range from $500 to $10 million.

Visit TEDCnet.com or call 918-585-8332 for more information on loan and entrepreneurial education programs! If you’re not a business owner but want to explore ownership, please contact TEDC! If you know someone who may need TEDC assistance, please share this story!

TEDC’s ongoing funding partners include the City of Tulsa (U.S. HUD CDBG), PartnerTulsa, Tulsa County, the U.S. Small Business Administration, the CDFI Fund of the U.S. Department of Treasury, the Economic Development Administration of the U.S. Department of Commerce, Bank of Oklahoma, Chase, and GKFF.