Finding the right type of finance for your salon business is an important move. A traditional bank loan can leave you and your business with associated risks of asset security and set monthly payments which may put your business under strain. Our beauty salon loan is designed to make it easy on you and your business.
Many traditional types of funding require a set pay back amount each month without fail. You may have a slow month on sales but you will still be required to payback the same amount to the bank regardless of your cashflow situation.
You can also find that if you do miss payments and you do in fact default you may find that you are hit with extra charges, fees and more crucially the potential of personal or business asset seizure.
A beauty salon loan works with your cashflow
That’s why a merchant cash advance is the ideal beauty salon loan. It works with your credit card sales via your merchant PDQ machine. You repay a set percentage of each transaction on your card machine to pay off the loan so you repay it as and when you make sales. If your sales are low for the month then you will pay less for that month. If your sales are good and up for the month then you will be paying off the loan much quicker.
We have helped many beauty salon’s find the funding they need without the fuss of paperwork, meetings, questions and so on. It’s simple. We require some basic information and some statements from your card sales and the funding can be with you in hours of acceptance.
We have helped beauty salon’s refurbish their studio’s, buy new equipment and even help purchase new premises. You can be sure that a beauty salon loan from us will help your business grow without the pressure associated with a traditional bank loan.
A cash advance is unsecured too which means that we don’t ask for personal or business assets to be used as security against the loan if it defaults. There are no hidden charges or fees payable – it’s just a straightforward alternative product that has worked for the many beauty salon’s we’ve already funded.
The product is also backed by the UK government who have invested heavily into the business cash advance market via the British Business Bank. We are connected to this line of funding to offer our small business customers access to the funding they need without the pressure and lengthy delays of traditional lines of credit.
Apply with us today and our team will discuss the product in more detail and give you a free no obligation quote.