Are Cash Advance Solutions Appropriate For Beauty Salons?

Any beauty salon owner will tell you that running the business comes with constant financial challenges along the way. Like other small business owners, salon owners find it difficult to source business financing from traditional money lenders. For beauty salons and other small businesses, cash advances from reliable companies such as Mantis Funding are becoming an increasingly popular alternative source of financing.

Need for Working Capital

There is cut-throat competition in the beauty salon industry. Salons need to be up-to-date with the latest beauty trends and adopt the latest innovations to stay ahead of the curve. At the same time, they need to have enough stocks of beauty products as well as trained staff to provide exemplary customer service. Nowadays, salons are also selling beauty products as a way to augment income from salon or spa services. All this requires a smooth flow of working capital funds.

Problem with Banks

Banks and other conventional money lenders often turn down business funding requests by small business owners for various reasons including poor personal credit score. They also take a long time to sanction the same. So who does a beauty salon owner turn to for quick and hassle-free working capital funding?

The answer could possibly lie in merchant cash advance, an attractive solution for businesses that witness a steady stream of business and sales. Beauty salons definitely qualify for a cash advance based on these two criteria.

Approvals Based on Business Sales

Mantis Funding is a company that specializes in sourcing merchant cash advance for all types of small businesses, including beauty salons and spas. For cash advances, approval depends on proof of consistent past and present sales, not your credit score.

If you’re an established business and have been operating for at least a few months, you could get funding within a few days. In return, you agree to pay back a percentage from future receivables. Here too there’s flexibility because repayments are designed to mirror revenue flow.

Understand What You’re Getting Into

The professional staff at Mantis Funding reviews each application carefully and if it deems the client to qualify, provides the client with an appropriate funding option. The company puts forth the funding proposal which a client should review before agreeing to it.

One thing to remember is that cash advance is a type of business financing which is quite different from that obtained from a bank. The costs and repayment structure of cash advances are different from banks too. Contracts often contain unfamiliar terms, so it’s important to educate yourself before making a commitment.

Research Service Provider

Once you agree to the terms of the cash advance contract, advanced funds are quickly transferred into your business bank account. Another thing to remember is that the cash advance industry is not controlled by federal regulations. There are a number of service providers who try to cheat desperate clients. The good news is that online Mantis Funding reviews are largely favorable, so you can feel reassured while partnering with this company.

Don’t let lack of working capital funding hold you back from owning a successful beauty salon business. Apply for a cash advance and get the financing you need to grow!