OVERVIEW
Specialized Financing For Your Beauty Business
There is no one-size-fits-all solution at Steer Financial. With your small business in mind, we'll find the best financing options to address your needs.
Easy
Application
Easy application and approval process.
Expert
Support
Funding specialist support from start to finish.
Flexible
Options
Tailored financing options for your business.
Quick
Funding
Get funded within 24 hours from loan approval.
BEAUTY SMALL BUSINESS LOANS OVERVIEW
What Is a Beauty Small Business Loan?
The beauty industry plays a crucial role in providing essential services to clients, from hair and makeup to skincare and spa treatments. Whether it's performing haircuts, styling hair, or providing skincare services, beauty businesses require a steady flow of capital to cover expenses. However, many beauty businesses are small, independent ventures with limited financial resources, making it challenging to fund necessary upgrades and maintenance.
To overcome these challenges, small business loans can provide quick and easy access to the financing needed to keep the beauty business running smoothly. At Steer Financial, we work with over 45 top lenders to match your beauty business with the best funding solutions. To qualify for a beauty business loan, you'll typically need to provide proof of revenue and a solid business plan. Our partnered lenders will also consider your credit score, time in business, and any collateral you can provide.
Beauty Small Business Loan Topics:
With Steer Financial, we can help you navigate the loan application process and find the best financing options for your business.
Beauty businesses require constant financial support to keep up with the demand for services and maintenance. Small business loans provide a valuable solution for funding these expenses, and Steer Financial can help you find the best financing options for your business. With our support and resources, you can take your beauty business to the next level and achieve long-term success.
Below you will find important information regarding the various types of beauty business loans available, what they can be used for, how to qualify for them, how to obtain them, and why Steer Financial is an excellent option for your small beauty business.
THE STEER PROMISE
Helping Small Businesses Grow Across The U.S.
At Steer Financial, we understand that no two businesses are alike. We offer financing solutions as unique as the business owners we help. Together, we can help steer your business to its full potential. Step one is determining which type of financing is ideal for your business. We work hard to deliver honest, reliable, and transparent customer service so you can feel confidence choosing us to help you meet your business capital needs.
Serving All 50 States
By leveraging our network of 45+ partner lenders, we can offer tailored solutions to businesses across the U.S. regardless of their size or industry.
Secure + Safe Data
We strive to keep all of your information secure and private. We assign a funding specialist to guide you along the entire process.
10+ Years of Experience
Our expertise has enabled us to understand small businesses and offer the highest level of service to you and your business.
DIFFERENT TYPES OF LOANS
Types of Beauty Small Business Loans
There are several types of small business loans available for beauty businesses to help them maintain their services and grow their customer base. Here are three common types of loans that beauty businesses can consider:
Beauty Small Business Loan Options:
Equipment Financing
Beauty businesses often need specialized equipment such as hair dryers, styling chairs, and skincare machines. Equipment financing loans are designed to help businesses purchase or lease this equipment. These loans typically have fixed interest rates and repayment terms that align with the useful life of the equipment. The equipment itself serves as collateral for the loan, so credit scores and other financial metrics may be less important in securing this type of loan.
Working Capital Loans
Working capital loans provide beauty businesses with funds to cover day-to-day expenses such as payroll, rent, and inventory. These loans can help businesses maintain steady cash flow and avoid cash shortages.
Business Line of Credit
A business line of credit is a type of loan that provides beauty businesses with access to funds as needed, up to a predetermined limit. This type of loan allows businesses to draw funds as needed and only pay interest on the amount borrowed.
LOAN USES
What Can Beauty Loans Be Used For?
Beauty loans are a valuable financing solution for beauty businesses that require capital to grow and succeed. Below are three ways that beauty loans can be used to support a beauty business:
Equipment and supplies
Beauty businesses often require specialized equipment and supplies, such as salon chairs, hair dryers, skincare products, and makeup. Loans can help businesses purchase or lease this equipment and keep their inventory stocked.
Marketing and advertising
Effective marketing and advertising are crucial for any business, and the beauty industry is no exception. Loans can be used to invest in marketing campaigns, social media advertising, and other promotional efforts that can help attract new clients and increase revenue.
Renovations or expansions
As a beauty business grows, it may require more space or upgrades to the existing location. Loans can be used to renovate or expand the business, allowing it to accommodate more clients and offer more services.
MINIMUM REQUIREMENTS
How To Qualify for a Beauty Small Business Loan
At Steer Financial, we will work closely with formulating a plan for your business. We will assess your business with our partnered lenders to evaluate the strengths and assets your business has to decide on the loan's size and conditions. Strong financial statements and a high credit score might also increase your chances of being approved. To make sure beauty small business loan is a realistic choice for your business, our funding specialist will walk you through the entire process from start to finish. Below is a quick overview of the minimum requirements in order to get an approval:
Time In Business
-
At least 6 months in business.
Monthly Revenue
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At least $15,000 per month in deposits.
Personal Credit
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Minimum of 600+ personal credit score.
Financial History
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1 year free from any open bankruptcies
HOW TO APPLY
Three Easy Steps to Secure a Beauty Small Business Loan
Same-Day
Decisions
We have partnered with over 45+ lenders to ensure that we match your business with the best lender and the most competitive rates. We work quickly to provide an approval in as soon as a few hours.
Fast
Funding
By utilizing our streamlined fast funding approach, your business can access the necessary capital in as little as 24 hours from the moment you approve the terms, ensuring a timely and efficient process.
