Lloyd Lacy Jr. has been cutting hair for about fifty years. His godfather bought the barber shop Lloyd now owns back in 1952. Growing up in the city, Lloyd would often stop by the shop in the Ocean View neighborhood to spend time with his godfather and friends. After graduating from barber college, Lloyd found that he loved in the freedom of being his own boss. He worked at the barber shop serving his clients for years and finally took over the business in 2010.
When the pandemic hit, Lloyd had to temporarily close his shop due to the city’s shelter-in-place orders. Unable to get EIDL or PPP funding, Lloyd was grateful to receive a zero-interest loan from the San Francisco African American Revolving Loan Fund administered by Main Street Launch. With this funding, he was able to remodel the shop and keep his business afloat. “The loan came at a great time,” he said.
A year after receiving this funding, Lloyd learned that his $50,000 loan would be completely forgiven. He told the San Francisco Chronicle that he nearly had to pull his car over when he got the news. “It’s hard to put into words what this means to me,” Lloyd said.