Do you sell a physical product with sales over $150,000?
Nail Salon Loans & Inventory Financing
Nail salons can expand growth potential and take advantage of every opportunity by using inventory and equipment financing and business loans. If you are a nail salon owner looking for the best financing option(s), we have you covered. Keep reading to learn everything you need to know about making smart nail salon financing decisions.
How much funding could your company raise?
Submit this form to see your estimate.
Why choose Kickfurther for
Food & Beverage Inventory Financing?
Don’t pay until
Your payment obligation only begins once your sales are made. This alleviates the cash-flow pinch that lenders cause without customized repayment schedules. Free up capital to invest in scaling your business without impeding your ability to maintain inventory
Know your rates. When you compare ours, you’ll often see that you’re saving. We cost less than factoring, PO financing, and many lenders. We also have higher limits than competitors.
Fund up to $1 million
in an hour.
Once approved and the deal goes live, most deals fund within a day (often within minutes to hours), so you’ll never miss another growth opportunity.
It’s easy, it works, &
it grows with you.
Companies access higher funding limits and often get lower rates as they return to Kickfurther, creating a scalable solution that grows alongside your company.
“Tough Times Call For Creative Funding — Check Out
Kickfurther’s Clever Model”
Join 800+ Kickfurther success stories
What are Nail Salon Inventory Loans?
Most nail salons need to be stocked with the proper inventory, supplies, and equipment to operate a successful establishment. In addition, many nail salons generate additional revenue by offering products for sale such as nail polish, face masks, lotions, jewelry, beverages, and more. Nail salon inventory loans can provide an affordable solution for financing inventory without interfering with cash flow. We strongly encourage nail salons to use inventory loans to provide them a competitive advantage and put them in a strong position for growth. There are a variety of nail salon inventory loans available making it critical to select the right option for your business. As the market faces high competition and constant changes you should choose a financing option that is flexible and can adjust as your needs change. Below, we have organized a reader friendly guide designed to help you explore various nail salon inventory loans available.
How do inventory loans benefit nail salons?
Inventory loans can provide a long list of benefits for nail salons. One of the biggest benefits is generating more revenue and expanding customer selection. Imagine if you could generate an extra $5 off each customer that came in your door? If you have three customers an hour and are open ten hours per day, that would be an additional $150 per day and over $4,200 a month in revenue. Providing a selection of inventory can also help ensure daily operations are not interrupted. Most nail salons choose to sell items they use daily such as polish, nail supplies, lotions, and more. Here’s a brief list of some of the benefits inventory loans can offer nail salons…
– Increase revenue
– Attract more customer
– Improve customer retention
– Expand customer selection
– Smoother daily operations
– Avoid running out of inventory
– Deliver better customer service
– Competitive advantage
Nail Salon Financing Options
When it comes to choosing nail salon financing it’s important to make an educated decision. Whether you need to improve cash flow, purchase inventory, purchase supplies, renovate locations, cover payroll or any other expenses you can use nail salon financing. Keep in mind, you may need to use a mix of various financing options. Keep reading to learn more about the various nail salon financing options available.
#1. Bank Loans
Bank loans may be a suitable financing option for some nail salons. However, if you need cash fast or have credit challenges you may want to consider another option. Bank loans are offered by most banks and in most cases can be used for just about any business expenses. One of the biggest benefits to using a bank loan is the one on one consulting services and support most banks offer. In addition, most bank loans can be used for large projects such as remodeling. Bank loans typically offer competitive rates, flexible terms, and high loan amounts. The downside to bank loans is that they can be difficult to qualify for with strict lending requirements and a lengthy application process.
#2. SBA Loans
Small Business Administration (SBA) loans may be difficult to qualify for with a lengthy application process but can offer many advantages. In order to use an SBA loan you must apply with an SBA approved lender. SBA loans are designed to help small businesses get the funding they need. The SBA provides approval guidelines for SBA approved lenders to use when approving SBA loans. In the event a small business defaults on an SBA loan, the government guarantees the commercial lender will be repaid up to 85% of any loss. This reduces the risk to the lender and allows small businesses to take advantage of lower rates and competitive terms.
#3. Inventory Financing (Kickfurther)
New and well-established nail salons looking for inventory financing should look into Kickfurther. Kickfurther innovates a unique approach to crowdfunding that allows nail salons to give individuals the chance to buy inventory on consignment. Nail salons that use Kickfurther will provide potential supporters with an estimated timeframe for repayment and specify a rate. Nail salons can include a flexible repayment schedule between 2-10 months depending on their expected cash flow. Supporters are repaid in full plus dividends. Nail salons should have $150,000 or more in sales to qualify for inventory financing through Kickfurther. Kickfurther can help nail salons receive inventory loans between $50,000 to $500,000 as fast as 1-hour.
#4. Business Line of Credit
A business line of credit can help companies improve cash flow, finance inventory, cover payroll, and more. Business lines of credit can be compared to credit cards. In most cases, a business line of credit should have a maximum loan amount. The borrower can have access to funds whenever they need and should only pay interest on the amount of money they use. Business lines of credit are most commonly used for short-term funding. Nail salons can use a line of credit for just about anything business related such as purchasing inventory, covering payroll, buying supplies, and more. Using a business line of credit can be a smart way to improve cash flow for small businesses. If you choose an unsecured line of credit it may have a variable interest rate and approval amount up to $100,000. In most cases, interest rates are lower for a business line of credit than a business credit card. Different lenders can have different qualifications for approval.
Where to Find Nail Salon Business Loans
If you are a nail salon business owner you can find business loans and inventory financing through most banks, credit unions, online lenders, and Kickfurther. Compared to banks and credit unions, online lenders are typically much easier to qualify for. Most online lenders offer very competitive interest rates and terms and are willing to take more risk since they have less overhead. Kickfurther can be a very attractive option with a straightforward vetting process for business owners.
How do you know which type of loan is best for your Nail Salon?
In order to select the best type of loan for your nail salon you should consider the size of your business, how much you need to borrow, how long you need to borrow the money for, and what your goals are. If you are looking for more of a short-term solution you can use business lines of credit or credit cards. If you are looking for more long-term solutions you should consider business loans or Kickfurther. Before applying for financing you should review your business financials to determine what type or repayment structure would work the best. You should also consider projected profits to determine how much interest or fees it would make sense to pay to borrow money.
Can nail salons get funded with bad credit?
Securing a business or inventory loan for your nail salon is possible even with bad credit. If you have credit challenges you should look into an online lender or Kickfurther. In addition, you should seriously consider applying with a co-signer who has good credit and reliable income. It may be easier to qualify for a secured loan if you have bad credit. Kickfurther may be able to help bad credit business owners. Typically their vetting process consists of revenue documentation, business credit report, legal business name verification, public information regarding any business wrongdoing, reviewing patent purchase orders, and more.
What do you need to apply for nail salon financing?
If you are applying for a traditional business loan or credit card, you should select the lender you want to use and apply for a loan or credit card. Most lenders offer an online application process. If you are a nail salon owner that wants to apply through Kickfurther you will complete the form on their website. The form starts with basic information such as contact information, warehouse type, ownership, and annual revenue. After completing this form business owners can receive an estimate of funding potential. Kickfurther has funded 800 deals and counting totaling $50M in funding. Here are 4 easy steps to using Kickfurther for nail salon inventory financing…
#1. Create your online account
#2. Get funded within minutes to hours
#3. Customize your payment schedule
#4. Complete and repeat
In conclusion, nail salon owners should take advantage of one or more financing options available in order to grow their business. As a business owner you have most likely created many solutions for many problems over the years. Perhaps some of your best ideas have come to mind while trying to solve problems. When we can truly relate to a problem and experience it firsthand we have the opportunity to create an effective solution. For this reason, Kickfurther is a company that was created by a business owner trying to overcome challenges, just like yourself. After struggling to finance inventory for a business and only finding expensive options, the seed for Kickfurther was planted. Originally launched in 2015, Kickfurther offers business owners a platform that allows them to raise money to purchase inventory. Kickfurther’s unique approach to crowdfunding can deliver fast funding up to $2M and flexible terms. Compared to other financing options, Kickfurther is up to 30% cheaper. Kickfurther allows business owners to pay back loans as inventory sells. Most companies that have used Kickfurthers platform have proven its success and flourished from its support. Every business deserves to take advantage of every opportunity. Kickfurther can help your business access the working capital it needs to take advantage of opportunities. Kickfurther has been praised by experts for their creative funding model that has helped business grow and survive tough economic times.
Create your online account
Create a business account, upload your business information, and launch your deal
Get funded within minutes to hours
Once approved, our community funds most deals within a day, often within minutes to hours, so you’ll never miss another growth opportunity.
Control your payment schedule
We pay your manufacturer to produce inventory. Make the introduction and you’re off and running! Outline your expected sales periods for customized payment terms. At the end of each sales period, submit sales reports and pay consignment profit to backers for each item sold.
Complete and repeat!
Complete your payment schedule and you’re done! Often once the community knows you, you’re likely to get lower rates on your next raise.
How much funding could your company raise?
Submit this form to see your estimate.
Never miss another growth opportunity with working capital as you need it.