Do you want to carry out any exciting business plans?
It’s quite possible that there’s a big list of changes and improvements you’d like to make to your beauty business or hairdressers. However, affording these improvements can be difficult. This is something that many owners experience across all sectors. However, there are ways to raise money quickly and easily so that you can start growing your salon business.
Raising business finance through traditional methods
Many people turn straight to their banks to raise business finance because it’s the only way they really know. However, since the financial crisis in 2008, the banks have tightened up their lending and will only provide money to a business owner who meets all of their – often strict – criteria. Luckily, if you want to raise finance for your hair or beauty salon, there are alternative options available which are more accessible.
Alternative Business Finance
Alternative Business Finance was created as a way for business owners to easily acquire extra funds. Many hair and beauty salon owners raise money through Alternative Business Finance when they want to purchase more stock, hire new employees, refurbish their premises or simply improve their cash flow. There’s lots of different providers of business finance out there, and they all offer something slightly different. The most popular products are, The Merchant Cash Advance which would work really well with hair and beauty salon owners who accept credit and debit card payments, The Alternative Business Loan, Crowdfunding and Invoice Factoring.
What Makes Alternative Business Finance So Good?
Alternative Business Finance is often praised by business owners for many reasons. Unlike the banks, the application process is a lot less complicated and drawn out, meaning people don’t have to spend hours filling out long and monotonous forms. As the owner of a hair or beauty salon, you understandably won’t have the spare time to be looking over piles of paperwork. Alternative Business Finance is also great because once your beauty business has been approved, you could have the funds in your account within just a few days. If you have an emergency and need money quickly, or even if you’re just eager to get on with your exciting plans, at least you won’t have to wait for weeks to receive the money. Unlike more traditional methods of raising finance, Alternative Business Finance is often more flexible, making repayments easier for hair and beauty salon owners in need of extra funds.
Raise £3,500 – £500,000 with Capify
Capify offers two innovative business finance products, The Merchant Cash Advance and the Business Loan. Both work really well for hair and beauty salon owners who are in need of funds to grow their business. Unlike the banks, our application process is quick and simple and once a business owner has been approved the money will be in their account within days.
The Merchant Cash Advance
If you accept credit and debit card payments from your customers then the Merchant Cash Advance could be the perfect way to raise business finance. The product is extremely flexible and works in line with your card sales. This means that you never have to struggle to pay back more than you can afford. Many hair and beauty salon owners go down this route because they take regular card payments from their customers.
In order to repay the advance, Capify will take a very small pre-agreed percentage of your card payments every working day. Therefore, if you have a slow day you repay less and on a busy day you repay slightly more.
The Business Loan
The Business Loan is different to others on the market because rather than paying back the money monthly, owners pay back a very small amount every day. Many people love this method because they don’t have to worry about saving for a fixed date. If you own a Limited Company, this could be the perfect business finance solution for you.
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