Small Business Loans for Beauty Salons and spas
Beauty salons are becoming more sophisticated. And so are their interiors and equipment costs to service an ever-growing and diverse client base. Salons are becoming more like day spas in order to raise margins and provide a one-stop self-care experience for their clients. This means adding in new equipment such as massage tables, spa chairs, tanning booths, showers, and even hot tubs. And that doesn't begin to cover the expensive skin care lotions and creams, or the maintenance of the equipment, towels and laundry, and scrupulous cleaning needed to keep the facilities looking pristine, beautiful, and welcoming.
United Capital Source are experts in lending small business loans to beauty salons and spas. Banks typically don’t lend to small retail businesses such as these because they tend to be more cash rich rather than having a large book of receivables paid by check or EFT. But at UCS, we understand this type of business, its challenges, and its opportunities. We've been providing beauty salons and sps up to $250,000 (or more) in loans or a business line of credit —depending on the amount of sales it does.
United Capital Source advises beauty salons to take small business loans from 12 to 18 months. A hair and nail salon in Philadelphia recently worked with our finance team to secure a $55,000 loan to purchase additional salon chairs and 3 new spa chairs for pedicures, which needed to be replaced.
Even with a small history of bad credit, this beauty salon was approved in 10 working days given their meticulous business record over the past 24 months.
Call us today at 855.933.8638 or email us at email@example.com for a FREE consultation and discuss your small business loan needs with United Capital Source.