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K-Town Cosmetics

Bringing Korean Beauty to the US

  • Owner:

    Michael Chang

  • Location:

    Las Vegas, NV

  • Industry:

    Retail cosmetics

South Korea native Michael Chang came to the United States in 1990 with determination to pursue the American Dream.  “I came to this country as an adult, ready to make my way in the world,” says Michael.  Michael made his way in 2011 when he opened K-Town Cosmetics, a Las Vegas boutique specializing in luxury cosmetics often hard to find in this country.  K-Town is the only Las Vegas store outside of a major mall to carry Shiseido, and has an extensive selection of upscale Korean brands like Clio, Peripera, Aromatica, and more.  The store has become the go-to spot for locals and tourists alike looking for the hottest trends from New York, Hollywood and beauty magazines.

As Michael grew his fledgling store into a beauty-making machine, he was able to build his team with two additional full time employees and a part-time assistant.  As the bootstrapped, or self-funded, venture grew, Michael was presented with an opportunity.  “I was going to be the exclusive, non-mall outlet for Shiseido.”

The internationally acclaimed brand promised to be a boon to the business but did come at a price.  In order to be given the exclusive agreement, Michael needed to place a large merchandise order upfront and invest in custom display fixtures for the store.  It was going to take cash, and a lot of it, to make this happen.

In June of 2015, Michael found his way to Dealstruck, a direct online lender dedicated to providing small business owners with appropriate, affordable, and transparent business capital to finance their dreams of growth.  “I had taken credit card advances prior to finding Dealstruck and they were expensive,” says Michael.  Dealstruck provided Chang with a fully amortizing loan, offering set payments for easier budgeting, and began to work with him as he sought out longer-term and lower-cost bank financing.

Based on his solid credit history and steady sales volume, Dealstruck was able to provide Michael with a term loan of $100,000 at 18.99% APR.  The loan allowed for his planned expansion, spurring solid growth for the store.  So much so, that with increased sales, more time in business, and responsible debt management through on-time payments, Michael was able to graduate to “bankability” and secured a SBA-backed small business loan with Royal Business Bank in January of 2016.  The new loan is for $120,000 at 11.7% APR.

Dealstruck prides itself on helping its borrowers grow their businesses and to establish solid business credit, allowing them to move on to financing with traditional banks.  Michael Chang and K-Town Cosmetics are another Dealstruck success story, and we are proud to have been a part of the journey.