At ShopSalonCity.com, we try our best to satisfy our customer's needs, whether that means sourcing excellent products, developing better designs and features for salon equipment, providing professional advice and services, or even helping our customers get through financial difficulty.
We want to share an example of how we recently helped a customer through a financially challenging time. Last December, a customer, Henry, from Oklahoma, was planning on opening his new salon.
To do this, he wanted to buy twelve Diva Pedicure Spa Chairs from us, which came to the price of over $40,000. However, most popular online retail financing providers on the market – such as Afterpay, Affirm, and Klarna – only offer loans with an order limit of around $1,000.
Finding any offerings over $2,000 proved to be incredibly difficult. We decided we wanted to work closely with Henry to find a better financing option for him and our other customers. We understood that opening a new business during the Coronavirus pandemic would not be easy. And our hunt for better financing options brought us to Navitas, with whom we decided to partner.
Navitas Credit is a leading provider of equipment financing solutions for small to mid-sized businesses nationwide.
When it comes to providing financing solutions for the salon industry, Navitas specializes in helping owners acquire the equipment they need to open their salon, remodel, and replace equipment when needed. They have assisted hundreds of customers with financing, from transactions as small as $1,000 to larger ones, over $50,000.
In the end, Henry was delighted with his twelve new spas, and we were beyond happy to be able to help.
Are you looking for salon equipment financing options?
Are you planning on opening a beauty salon or perhaps looking to expand your current spa or salon? If so, you're more than likely looking to purchase salon equipment. Of course, this can be costly.
But, since interest rates are low currently, perhaps you should consider looking at your salon equipment financing options or taking out a loan. Good news for salon and spa owners; there is financing specifically geared toward purchasing equipment for your business.
This post looks at getting 100% upfront funding with Navitas equipment finance and how to qualify for funding.
Funding with Navitas
Taking out beauty salon equipment financing is an excellent way to preserve your capital. Shop Salon City has partnered with Navitas, offering customers an affordable way to buy salon equipment.
This means you can get 100% of your salon equipment financing upfront on an amount between $1,000-$50,000. There is no longer a need to wait until you get paid. That's right. Qualifying dealers can get pre-funded up to 100% of your equipment cost every time you finance with Navitas.
Stop delaying payment on cash deals or getting paid at installation with other funding sources. Navitas offers our customers affordable ways to buy from Shop Salon City and expedites equipment payment at the same time.
With Navitas equipment finance, your salon will have a pre-funding competitive edge. Here's how:
- Expedite your cash flow
- Get paid faster than cash deals
- Speed up your commission payments
- Improve your receivables aging
- Eliminate payment defaults
And if you have limited credit terms with your manufacturer, Navitas can pay your manufacturer directly and prepay your profit. Now that's a fantastic deal.
How to Qualify for Salon Equipment Financing
Although all lenders, such as Navitas, will have their specific requirements for financing, there are a few things that you should consider before applying:
- Your salon must be up-to-date with its specific licenses, so make sure you have an active business license or permit from the Secretary of State.
- Both your business and personal credit score will count in your favor. So make sure you are on top of this. You'll need a minimum of 600-659 credit points to qualify for financing.
- Is your credit history spotless? Some programs will not offer to finance businesses with unresolved tax liens or if they have had a bankruptcy in the past seven years.
Once you have all this information ready, you will be on your way to your commercial equipment leasing needs.
It's essential to be able to offer your customers the latest salon equipment and technology. This way, not only will they look and feel their best, but they will return to your salon knowing they will get the best of everything with you.
Don't get left behind. Instead, find out if you can finance your salon equipment and keep your business growing and your customers returning.
For more specific information about your salon's situation, it's best to consult with a professional for financial advice.
Funding with Navitas is an excellent lifesaver for small businesses and salon owners. And, it is one way to show your employees that they are your top priority.