Small Business Loans & Merchant Cash Advances

A traditional term business loan for beauty and wellness business owners is a lump sum of capital provided upfront by a lender, which must be repaid over a fixed period, or "term," typically with set monthly payments and a predetermined interest rate. These loans for small business funding solutions are often secured with collateral, such as real estate or major equipment, and are used for large investments like opening a new location or a significant salon build-out. Because they offer more favorable interest rates and longer repayment timelines compared to other options, they are a primary choice for established businesses with strong financials and credit.

A merchant cash advance for small business owners is not technically a loan; it is the purchase of a fixed dollar amount of your future sales. In this arrangement, a beauty business receives an upfront sum of funding for salon business needs, and repayment is automatically deducted as a fixed percentage of daily or weekly credit card sales. This offers flexibility since the repayment amount naturally adjusts with the volume of your sales. MCAs are known for fast approval and funding, and are often more accessible to businesses with less-than-perfect credit or limited operating history, though they typically carry a higher overall cost than traditional loans.

When evaluating small business financing solutions, you should prioritize transparency, flexibility, and alignment with your revenue cycles. Key factors to look for include:

• Simple repayment: Look for daily/weekly payments based on a percentage of sales, which helps during slow periods.
• Upfront costs: Ensure the total cost is clearly disclosed through a flat fee or factor rate, avoiding compounding interest.
• Qualification: Seek options where eligibility relies primarily on your sales history, not just your personal credit score.

Speed: Confirm that the funds for your salon financing needs can be deposited quickly.

To apply for loans for small business funding, start by determining the amount and purpose of your need (e.g., equipment, working capital). For traditional lenders like banks or SBA programs, you must prepare a comprehensive business plan and financial statements. If you use a software provider like GlossGenius, the application process for salon or spa financing is streamlined: you simply check your eligibility within the app, select your offer amount, and complete a quick application based primarily on your existing payment processing history.

GlossGenius Financing provides fast, flexible funding in the form of small beauty business loans or Merchant Cash Advances (MCAs) to beauty and wellness professionals who use the GlossGenius platform. It is designed to help salon, spa, and studio owners manage cash flow, invest in inventory, expand their space, or grow their team.

Yes, GlossGenius offers flexible salon financing and cash advances exclusively to its members to help grow their businesses – up to $250,000 in funding. The funding includes the option of a merchant cash advance for small business owners, which is a purchase of future receivables repaid automatically via a percentage of your sales with no fixed payment schedule. This financing is typically more accessible than traditional options. 

In comparison, Vagaro Capital offers both cash advances and a specific hardware-only funding option for up to $3,000 to help merchants acquire Vagaro equipment, repaid through a percentage of daily sales.

‍

GlossGenius provides small business loans or Merchant Cash Advances (MCAs) to eligible beauty and wellness professionals who use the GlossGenius platform. To apply:

‍

• Check your eligibility. Go to the GlossGenius app and select ‘More’, then ‘Genius Loans’ to see if you’re eligible.
• Select your offer. Select the amount you need to fund your business. The accepted amount will determine your fee and repayment rate. 

Receive your funds. If you’re approved after review, the funds will be deposited into your bank account in as soon as 2 business days.

GlossGenius calculates your eligibility for salon financing primarily by analyzing the health and stability of your business's revenue, demonstrated through your processing volume and payment history on the platform. To qualify, you generally must process at least $5,000 USD per year and have at least three months of processing payments through GlossGenius. This method provides a fast, credit-score-friendly way to qualify for loans for beauty salons and is designed to ensure the offered funding amount is manageable based on your sales performance.

You replay GlossGenius Financing loans or MCAs automatically through a percentage of your daily sales processed through the app. This feature is key to the flexibility of the funding for beauty salon loans, as it means you pay less during slow periods and more when business is strong. If you receive a term loan, there is a fixed payment amount that must be met, but the automatic withholding process is the same. There are no penalties or additional fees for early payment, and the flat fee remains the same regardless of your repayment speed.

Absolutely. One of the most common and effective uses of salon financing or spa financing is for purchasing or leasing essential equipment. Whether you need new salon chairs, advanced laser treatment machines, or simply new retail inventory, a business loan for beauty salon purposes provides the working capital. Some financing options, known as equipment loans, specifically use the new equipment itself as collateral, which can make them easier to qualify for.

‍

One of the key benefits of modern, integrated salon and spa financing options is speed. Funds from approved applications, including merchant cash advances for small business owners, can typically be deposited into your bank account as soon as two business days after approval. This rapid turnaround is crucial for salon and spa owners who need immediate access to working capital for unexpected expenses or urgent opportunities like taking advantage of bulk inventory discounts.