Beauty Salon Working Capital Loans

working capital loansBeauty Salon Working Capital Loans with an alternative lender is the quickest way to secure funding. Statistics from the U.S. Bureau of Labor, beauty salons are involved in a competitive industry with diverse target markets. Such diversity in an ever-changing industry, salons must have an aggressive and strategic approach to managing their working capital. The potential growth of beauty salon industry can be on a variety of factors such as expansion, investing in new inventory and supplies, business marketing, or new furniture and decorating. Between demanding competition; a successful salon need to continually invest in the future of the business in order to remain ahead of rival companies.

Click below to see different industries, business strategies, and how to get started.

Beauty Salon Small Business Loans

Future growth in the beauty hair salon industry

The beauty hair salon and spa industry represents more than 900,000 of the businesses in America and is projected to grow 10 percent from 2014 to 2024, faster than the average for all businesses according to the U.S. Labor Department. Currently there are thousands operating independently and in shopping malls throughout the country. Customers are the lifeblood of any small business, and never more so than in a service business catering to their self-image. Keep them happy, respond to their needs and desires, and treat them with respect to retaining current clients and attract new ones.

Traditional bank loans are difficult

Traditional lenders require good credit, want to review your resume, a detailed business plan, two years of financial paperwork, collateral, plus they want a detailed plan how the funds are going to be used. The application typically takes 40+ hours to complete. If you are approved it can be a month or longer before you get the capital you need. Rejection rates have been roughly above 80% over the past several years with on SBA loans. If you have any issues the application is denied.

Beauty Salon Working Capital Loans

hair salon working capital loans

Beauty Salon Working Capital Loans – Capital without the hassle

Our application process is different from banks or lenders offering SBA loans. We focus on the actual business performance that can be reviewed with a few months of bank statements. This allows us to be flexible on credit history checks and avoid the unlimited documents connected to your approval. We offer funding from $5000 to $500,000. The actual rate and term is dependent on the performance of the business. The amount capital that can be borrowed is dependent on the monthly deposits. There is very little paperwork involved this is the main reason why the application process is so quick.

Click below to see different industries, business strategies, and how to get started.