For Koncept House founder Anthony Gee, entrepreneurship is a family tradition. Gee watched his mother build her own salon when he was a young boy, which instilled lifelong lessons that would go on to serve him in powerful ways. Koncept House in Castleberry Hill embodies this legacy of supporting others, serving as a nontraditional co-working space that provides flexible, creative environments for entrepreneurs. Koncept House partners with 28 entrepreneurs–a majority of which are Black female creators–who offer a range of services and products from skincare to coffee, vitamins and more.
Following the opening of Koncept House in 2019, Gee saw more and more growth but not enough spaces to accommodate burgeoning entrepreneurs. “As the waitlist of entrepreneurs kept growing, I knew there was a demand for a second location of Koncept House,” Gee says.
Having a different business model, he knew they needed a different type of funding partner.
“Financing is challenging because people don’t understand our market,” he explains “If you are a bank you don’t want to back a place with a bunch of small companies. It isn’t traditional coworking. Our business model is very different.” This led him to search for a less traditional funding source--one he found in the Atlanta Open for Business Fund - Commercial Down Payment Assistance Program (CDPA).
CDPA offers low-interest financing to assist existing business owners in the city of Atlanta with purchasing commercial property. Through this program, Gee and his team were able to receive the guidance and financial support needed to make their dream of a second location a reality.
The Atlanta Open for Business Fund is designed to help small business owners in Atlanta build wealth by investing in assets such as commercial space, equipment and technology. It is supported by a generous donation of $20 million from Wells Fargo and in partnership with United Way of Greater Atlanta to help Atlanta businesses impacted by the pandemic recover.
The impact of the Atlanta Open for Business Fund on Koncept House will reverberate for years to come. Through CDPA, Koncept House’s new location on the Beltline will house 15-18 entrepreneurs and provide them the space and support needed to take their next steps in fulfilling their entrepreneurial goals.
Explore Koncept House to learn more about their incredible entrepreneurs.