Do you need immediate working capital for your salon business? Whether you need to hire new staff, renovate, or pay off outstanding debt, a same day salon merchant cash advance might be for you, especially if big banks won’t lend to you.
There are over 880,000 salons in the United States, but the industry is in decline at about 1% per year annualized growth since 2016. Especially since the lockdown, salons, as well as other social industries, have been decimated. Today might be a good day to turn that around with a salon business advance.
What is a Salon Merchant Cash Advance?
A merchant cash advance traditionally works by the lender giving you an advance based on your future credit card receipts. The advance is paid to you in a lump sum that you pay off daily or weekly through ACH business banking withdraws.
The obvious benefits of using a merchant cash advance is that you get the funds, in most cases, the same business day. The other benefit is that you can do what you want with the funds and no collateral is needed for the funding.
Merchant cash advances also don’t require a near-perfect credit score like banks require. You can get up to $25,000 today with a 450 credit score, as long as you earn $5,000 a month in revenue and have been in business for at least 6 months.
Why our Merchant Cash Advance is better
Our merchant cash advance is not a traditional merchant cash advance where funds are calculated based on your future credit card receipts. Our advance is a business cash advance, whereas we draw our funding decision based on your general salon business checking revenue.
The only requirement that really matters to us about your business is positive cash flow. We don’t need you to have a perfect credit score, put up collateral, and then make you wait for weeks or months to get funded.
We understand business emergencies thoroughly, that is why we are one of the only business advance services that fund businesses truly in one business day. If you apply at 9am and meet the requirements, chances are 90% of the time you will be funded by 6pm Eastern.
Using your Business Advance to grow your Salon
Salon businesses are one of the most capital hungry businesses in the U.S. Salons, for one, are usually near the hub of downtown where rent is astronomical. Salons also need to staff and rehire continuously to look for top-notch stylists.
Salons have a ton of bills, as you know, and with a business cash advance you can put that money to work immediately. Salons are competitive and customers rely on first impressions to determine whether or not they will become a steady client.
Also, salons need to create stunning displays of the latest products. One bottle of Aveda shampoo can cost $140, and a hair color processor and dryer can be $700 or more. Salons need money to make money.
Why Choose Us for Your Salon Business Advance
At Same Day Working Capital, we are business entrepreneurs helping business entrepreneurs. We work for the rest of America that big banks won’t touch.
When you apply through our service, you will be greeted with transparency and a dedicated account manager who will personally work with you. Our terms are transparent and easily affordable with the lowest factor rates in the merchant cash advance industry.
There is no hard credit inquiry to see if you qualify. It takes less than 5 minutes to apply and view the terms and accept or decline the offer. I wish you all the best with your salon and the years to come.
Learn More About Our Same Day Capital Options For Salons.