Grow Your Salon in Style with Beauty Salon Loans

beauty salon loans
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Keep your customers looking their best by providing high-quality salon services. Beauty salon loans give you the resources you need to scale your operations and move your business forward.

1West understands the challenges of running a salon. Our team of financial experts is committed to making working capital easily accessible to beauty salon owners.

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NO Hard Credit Pull

Not your typical business financing application

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Ways You Can Use Beauty Salon Loans

1West offers loans for every business need. Whether you want to open a new location, hire more stylists, or purchase equipment, we’ve got you covered.

Here are some of the ways you can use the funds from a salon business loan:

01

Open a New Location

When your business is ready for expansion, you’ll need a significant amount of money to open a new location. Applying for a loan can help you cover the costs of leasing or buying a new space, equipment, staff, and other expenses associated with growth and expansion.

02

Hire More Staff Members

An understaffed salon can greatly impact your business’s bottom line. Without enough staff members to service your customers, you’re missing out on growth opportunities. Your existing stylists may also be overburdened with customers, affecting the quality of service you provide. Beauty salon financing can help you cover the costs of hiring and training new staff members.

Because you don’t just want a small business loan – you want the absolute best loan for your business, right?

03

Purchase Salon Equipment

You can’t run a salon without proper equipment. You’ll need to purchase hairdryers, reception desks, shampoo bowls, display cases, professional hair cutting shears, towels, mirrors, and hairstyling and grooming equipment, just to name a few. However, it can be overwhelming to purchase these items out of pocket.

Aside from typical hair salon equipment, salons today need health and safety equipment to operate, like face shields, masks, gloves, air purifiers, and other safety measures. Beauty salon loans can help you pay for the equipment you need to keep your business going.

Once you’re approved, you’ll be able to access your capital in as little as 24 hours.

04

Acquire Another Established Salon

You don’t necessarily have to start a new salon business from scratch. Many small business owners choose to purchase an established business and building from there. The problem is that buying an existing salon can be expensive, especially if your planning to acquire an established company. When you come across a good business opportunity, you can apply for salon business loans to fund these purchases for you.

05

Market Your Business

Small businesses often forgo paying for marketing expenses, thinking it’s a waste of working capital. Even though there’s plenty of growth opportunities in the salon industry, the competition is stiff. To survive in a cutthroat industry, effective marketing is the key component for long-term success.

Establish your competitive advantage by using the money to implement marketing strategies. The extra funds allow you to advance your business without taking away cash flow from other parts of your business.

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Whatever You Need, There’s a Loan for You

Beauty salons have a plethora of options when it comes to small business financing. Here are some of the top loan choices for you:

01

Apply in just 15 minutes.

Unlike a bank process that can take up to 3 months, you can complete our online small business loan application in 15 minutes. Sometimes we ask you to submit an additional document or two, but we make it easy for you to upload your stuff online – all it takes is a click. Plus, there’s no fee or obligation. Oh, and funding is almost as fast: once your loan is approved, you’ll be able to access your capital in as little as 24 hours.

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Choose from 50+ lenders.

We are America’s premier busines loan marketplace, which means we connect you to more loan options than anyone else. All you have to do to gain access to our nationwide network of 50+ lenders is fill out the online application.

Because you don’t just want a small business loan – you want the absolute best loan for your business, right?

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03

Get Funded.

We know you don’t have time to wait around for your working capital, which is why we work with funding partners that can get you funded as fast as possible.

Once you’re approved, you’ll be able to access your capital in as little as 24 hours.

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01

Business Lines of Credit

A business line of credit is one of the most flexible financing options for small businesses. Once approved, lenders give you a predetermined credit limit to use as needed, given that you don’t go over your limit. Unlike a classic term loan, you don’t have to repay the entire credit limit given to you. Instead, you only need to repay the amount you’ve withdrawn and the interest incurred.

A business line of credit is revolving, which means it works just like a credit card. Your credit limit goes back up once you’ve repaid the money you’ve withdrawn from your credit limit. This is very convenient for small business owners as you don’t have to go through another application every time you need additional capital.

You can use the funds from a business line of credit to establish a safety net for unforeseen expenses. You can also use

02

Unsecured Working Capital Loan

An unsecured working capital loan doesn’t require borrowers to provide collateral to secure capital, making it easier for small businesses to qualify for a loan. Lenders check your cash flow to determine the terms, rates, and loan amount. They also look at your industry, time in business, credit score, and revenue streams.

The terms for an unsecured working capital loan vary as well, but it typically ranges from two months to two years with rates as low as 18%.

03

SBA Loans

The Small Business Administration (SBA) knows that there’s a gap in small business financing. So, to bridge this gap in cash flow, they created SBA loans. These are loan programs backed by the SBA, providing business owners with lower interest rates, longer repayment terms, and higher loan amounts than most loans in the market. You can use the loan to purchase a business, equipment, supplies, commercial real estate, or working capital.

While SBA loans are one of the best small business financing available today, you need to prove that you are a strong borrower. It’s also important to note that the underwriting process usually takes about a month, so SBA loans may not be the best option if you need fast cash.

04

Equipment Financing

The overall operational costs of beauty salons are tied to equipment. If you need to borrow money solely for equipment purchases, you can apply for equipment financing.

Equipment financing provides salon business owners the financial resources needed to purchase or lease much-needed equipment, like a point-of-sale system, stylist chairs, hairdryers, nail stations, professional hair cutting shears, and more. The equipment you’re planning to lease or buy serves as collateral for the loan, providing security to the lender in case of a default.

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Why Choose 1West

Quick Access to Working Capital

1West understands that financing for small businesses is hard to come by. It’s our goal to help you grow your salon business by giving you quick access to working capital. We partner with over 50 lenders in our marketplace to help you find the right loan for you, and once approved, you’ll get funded within as little as 24 hours.

Streamlined Application Process

We make it easy for you to get the money you need in no time. All you have to do is

  • Create an account.
  • Choose the best type of loan for your business. If you have a hard time choosing, you can use our product wizard to help you decide.
  • Apply and compare. Once you’ve applied, you’ll receive different offers from more than 50 lenders. Our lending experts can guide you throughout the entire process to make sure you pick the best one.

Full Transparency

At 1West, we highly value transparency. You always know where you stand; no hidden fees, no surprises.

Call us anytime (888) 881-WEST

Monday – Friday | 9am – 6pm

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We help you through the whole process.

You don’t have to go it alone.

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Call us anytime (888) 881-WEST

Monday – Friday | 9am – 6pm

Start Application