Thanks to an increased focus on self-care and the emergence of social media beauty influencers, demand for salon services is rising. The number of salons and spa businesses in the United States has risen sharply and the industry is now worth an estimated $49 billion.
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.