Business Loans for Beauty Shop
A beauty shop may not be a bank’s first priority when it comes to giving a business loan. There are many other options available when it comes to receiving a business loan, such as private lenders. Typically, banks are not keen on giving loans to small and medium businesses due to what they will term as risk factors. Small businesses are looked upon as being unstable and not good investment options.
Some of the typical features that a business owner can expect with their bank application form are, months of processing time, even to get a rejection. Tons of paper work such as years of statements, tax returns for a year or two, profit and loss statements, business owner’s personal financials and the list goes on. After submitting tons of paper work, business owners receive a rejection generally because they were not able to meet one of the many criteria of the banks.
With a private lender a merchant cash advance for beauty shop is easily available; the paper work required is filling in a form. 4 months business statements, the business needs to be a year old at least with a minimum gross sale of $15thousand at least. Credit score is not a major hindrance as it is with the banks. If a business owners credit is below 700 a bank will reject the application, however a private funder works in a far more flexible manner.
Beauty shops will be able to receive funding from private lenders such as Funding Easily quickly and without many hurdles. This meets a critical and necessary requirement of small and medium sized businesses.
Generally small businesses such as beauty shops require funding for purposes such as advertising, business expansion, purchasing equipment, inventory, working capital and the likes. This funding is not complicated to receive provided beauty shop owners are applying to private lenders for business funding for beauty shop.
For more information related to obtaining a business loan for beauty shops contact us through our contact page. Our funding team will assist you with more information and they will also provide you with assistance in filling the application form.
Beauty shops need frequent funding to keep up with market. Check out your options now