Need a new piece of equipment for your beauty salon? As a business owner, having the necessary equipment is vital to the success of your business operations. Customers have a certain level of expectations when selecting a beauty salon, so making sure you have the necessary equipment is important.
Even if you’re working with tight budgets or have little cash flow, there are still options for you to finance the salon equipment. There will be times when you will need to replace, upgrade or purchase equipment. But with the right salon equipment financing option, you maintain your cash flow and improve your customer experience.
What is Equipment Financing?
Equipment financing is a type of financing used to provide business with working capital to purchase equipment.
Types of Beauty Salon Equipment Financing
Beauty salon equipment financing is a great alternative to buying. Beauty salon equipment financing can come in several forms including, including a working capital advance, term loan, business line of credit, or SBA Loan.
Each have their own pros and cons but all are alternative loan types. What they will all have in common are that approvals are not based on credit score but rather on overall business performance. If you have a discharged bankruptcy you may still be able to get funding for at least one type.
Alternative lenders, such as Small Business Funding, look beyond poor credit and more toward your daily cash flow, your industry, your experience, and how well you run your company.
The purpose of this type of beauty salon equipment financing ultimately is to let you keep your capital free and so as to not affect your cash flow. If approved for one of these options, you can use the funding to purchase your equipment.
However, there is a funding option available to specifically assist business owner who need new equipment.
Equipment Financing Option
That is our equipment financing option. With this you can finance up to 100% of the equipment purchase. In order to keep your rate low, the new equipment will be used as collateral.
The equipment financing option is ideal if you don’t have the cash or collateral on hand, need to purchase equipment quickly or do not have perfect credit.
The minimum requirements to be considered are:
Minimum Time in Business: 6 Months
Minimum FICO Score: 600
Maximum Funding Amount: $1,000,000
Term: Paid monthly, with 1 to 5 year terms
How Small Business Funding Can Help Get You Beauty Salon Equipment Financing
Small Business Funding can help you secure capital to purchase any type of salon equipment which can help your cash flow thus keeping your capital in house as to not affect your day to day operations.
One application along with a few months of your most recent business bank statements is all that you need in order for Small Business Funding to get you a funding decision in less than 24 hours. With this our underwriter would have enough information to provide you with an offer.
With Small Business Funding you have multiple options to fund your beauty salon equipment. If approved you can receive funding directly through us or one of our funding partners. By going with us, this will allow you to concentrate on your business while we provide all the leg work.
To see if you qualify for beauty salon equipment financing you can complete our online application or call 800-742-2995