Beauty Salon Funding

The beauty salon industry is projected to grow at an average rate of 4.2% per year. Stay ahead of your competitors and provide your clients with the best beauty salon with up to $500,0000 in funding from Greenbox Capital® as fast as 24 hours.
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Fast Beauty Salon Funding You Can Trust

Thanks to an increased focus on self-care and the emergence of social media beauty influencers, demand for salon services is rising. In fact, the the Spa Industry Association of Canada (SIAC) estimates that there are more than 3,000 spas across Canada.

Traditional lenders like banks often consider beauty salons a “high-risk” industry because of high customer turnover and lower profit margins. While you’re waiting to see if your funding will be approved, your salon may suffer and valuable opportunities for growth in the beauty industry can be lost.

As an alternative lender, Greenbox Capital® can approve more beauty salon funding than traditional lenders, and we can approve funding faster, with funds deposited in as little as one business day. We provide multiple types of beauty salon funding to help grow your business, with funding from as low as $3,000 up to $500,000 and no restrictions on how you can use your funds. We fund all beauty salons, including hair salons, makeup salons, day spas, and more.

Beauty Salon Funding Rates

Beauty salon funding rates depend on the type of alternative small business funding you receive. Most alternative beauty salon funding options use a factor rate instead of a traditional interest rate. Factor rates are simple decimal figures that show how much “extra” you will owe on the original amount of the loan and are determined based on your risk assessment.

Beauty Salon Funding Solutions in Canada

Our friendly, expert Funding Advisors will work with you to determine which funding option will help you achieve your goals without compromising your business’s cash flow.

How To Use Beauty Salon Funding

Beauty Salon Funding by Greenbox

There are no restrictions on how you can use your funds. Alternative beauty salon funding is ideal for supporting your salon’s revenue, fueling your growth, and furthering your commitment to your customers. Use your funding to:

  • Renovate or expand your salon’s space to accommodate growing demand
  • Purchase new equipment or fixtures for your salon
  • Expand into new areas of the beauty industry
  • Open in a new location
  • Develop an online booking system for your services
  • Obtain proper business insurance and beauty licenses
  • Hire the most qualified employees in the industry
  • Building out your online presence with marketing materials like email newsletters, online ads, social media marketing, and more
  • Invest in salon maintenance and security

Sometimes, beauty salons need a quick infusion of working capital to help meet the unique challenges of their field, such as:

  • Purchasing replacement parts for damaged equipment
  • Covering energy bills
  • Dealing with supply shortages of popular products like hair colour
  • Managing cash flow and payroll
  • Seasonal fluctuations
  • High cost of beauty equipment and supplies

How Beauty Salon Funding Works

  • 1
    Apply

    Gather 3 months of bank statements and other records. For faster approval, grant us secure access to your bank account’s transactional data.

  • 2
    Choose Funding

    A Funding Advisor will reach out to you within 1 hour (during regular business hours) to complete your application & discuss your funding options.

  • 3
    Get Funded

    Once you and your Funding Advisor determine what funding option works for your business, your funds can be approved and deposited within 24 hours.

  • 4
    Set Repayment

    Payments will be automatically deducted from your business’s daily or weekly debit and credit card sales. Payment amounts will be based on your sales.

Will You Qualify for Beauty Salon Funding?

Exact qualification requirements depend on the type of beauty salon funding you are seeking. Approval for beauty salon funding from Greenbox Capital isn’t based solely on your credit score or financial history. We focus on the overall health of your business, including:

  • Business revenue
  • Cash flow
  • Vendor payment history
  • Years in business
  • Public records

Beauty Salon Funding Q&A

There is new competition in my area. Can I use alternative funding to boost my marketing?

Boosting the marketing of your beauty salon is a great way to utilize your funding. You can use your funding for promotional materials, website development, advertising, and more.

How do I get funding for a beauty salon?

You can get funding for a beauty salon from traditional lenders like the CSBFP or a bank, as well as from alternative lenders like Greenbox Capital. Alternative lenders have more flexible approval requirements that consider the overall health and potential of your business—not just your credit score—and offer revenue-based financing options that are more ideal for businesses with lower credit scores, such as merchant cash advances. Contact one of our Funding Advisors to learn more.

Why should I consider an alternative lender for my beauty salon?

Traditional lenders can take weeks or months to review and approve your loan application. If you’re looking for a way to streamline your cash flow, as an alternative lender, we have different approval requirements and can approve more funding for beauty salons. We can provide you with the funds you need to cover salon equipment expenses, operating costs, and more, often in less than 24 hours.

What are the typical uses of funding for a beauty salon?

There are a number of different ways that funding can be used for a beauty salon. The most common is to fund equipment costs. Other common uses include expanding the business, marketing, and hiring additional staff. Some beauty salons also use the funding to cover day-to-day operating expenses such as rent, utilities, supplies, and inventory. Ultimately, how the funding is used will depend on the specific needs and goals of your beauty salon. Make sure to consult with one of our Funding Advisors to ensure you are using your funding in the most efficient and effective way possible.

Are there any restrictions on how the funds can be used?

There are no restrictions on how your funds can be used. We have a very simple application process, with same-day funding available. To get started, fill out our one-page application form or speak with a Funding Advisor.

Adding a security system to my beauty salon will give me peace of mind. What type of funding is best for this purpose?

A merchant cash advance is one of our most popular funding options. A merchant cash advance is a form of unsecured funding that small business owners can use to finance their businesses. We recommend you speak with one of our knowledgeable Funding Advisors—they can help you explore all of the available funding solutions for your business.