Are you looking to hire or expand your salon business? Are you in need of cash faster than what banks offer? We offer same day salon loans up to $25,000 and up to $2 million in 3 to 7 days. Read the full article for details on salon financing opportunities.
What are Same Day Salon Loans
There are over 1 million salons in America, making it one of the largest service-based industries. However, salons, like other small businesses, are not getting approved for bank loans.
In fact, only 13% of small businesses ever get approved for big bank loans. Why is that? Ever since the pandemic happened, banks have been more hesitant in lending to anyone, period.
Not getting a big bank loan for small business has created a massive exodus from big banks to alternative financing models, like merchant cash advances and business cash advances.
A MCA or BCA is a short-term advance, usually less than a year, that is based on your revenue. These advances don’t require you to have great credit or even good credit.
These advances are primarily based on the length of time you’ve been in business and the condition of your cash flow. That is why these advances are not for startups, but rather businesses that have been in business for at least 6 months and generate a monthly income of $5,000 or more.
Those are our requirements, other lenders want you to have 1 to 2 years of business and $20,000 a month or more in revenue, and big banks want even tougher requirements and need collateral on top of that!
How Same Day Salon Loans Work
Salon Advances are just that: they are cash advances based on your revenue and can be used for anything your business needs. Salons are constantly expanding and one of the few industries that survived well last year. Now that the pandemic is behind us, salons and other service-based businesses are expanding rapidly.
Since you can borrow up to 75% of your monthly revenue for up to $25,000, and 1 to 2 times your monthly revenue for the larger loans, you can easily hire more staff, expand your product lines, and catch up on any outstanding debts.
We also offer salon customer financing if you want to give your customers the ability to pay in monthly payments for your services, which can increase the ticket by 85%.
Why Apply with Us for Same Day Salon Loans
We have helped thousands of businesses in over 700 industries and have dispersed $50 million in greatly needed funds for the survival of the American business owner.
If you have been in business at least six months, have at least a 450 credit score, and have generated at least $5,000 a month in business revenue in the last six months, chances are great that you can get funded today.
We are one of the only lenders that can get you funds the same business day if you apply before 10am Eastern and have all your bank statements ready. You can apply and see an offer in as little as 5 minutes in 2023.
If you approve of the terms, you will be able to connect your bank to the dashboard to receive the funds. The advance will then be paid back through ACH on a daily or weekly basis. You will also get your own dedicated account manager and you can draw funds over and over again if needed.
I look forward to helping you and each business that is barely surviving during these unprecedented times. Nothing makes me happier than to see a business owner in relief, knowing that tomorrow they will have the funding to keep the doors open.