Elmgate Lending in Opelika, Alabama helps Lee County, AL salon, nail and barbershop owners describe an equipment purchase, a remodel or a payroll gap and passes the request to funding partners who decide on approval and terms.
At a glance
- Beauty salons
Beauty salons in Lee County, AL: 30 employers, 150 paid employees (CBP 2023)
- Hair, nail and skin care
Hair, nail and skin care services in Lee County, AL: 37 employers (CBP 2023)
- Salons without employees
Beauty salons without paid employees in Lee County, AL: 492 (Nonemployer Statistics 2024)
- Beauty salons in ZIP 36801
Beauty salons with a ZIP 36801 address: 9 (ZBP 2023)
Nail Salon Financing When an Opelika, AL Salon Needs Styling Stations
Styling stations, nail tables and pedicure chairs are the core equipment of a salon. Illustration only, invented figures: $16,000 of stations and chairs financed at an annual rate of 11% over 36 months would cost about $524 a month (our arithmetic). A salon renting stations to booth renters can set the rent each station brings in against that payment.
County Business Patterns counted seven nail salons with paid employees in Lee County, AL for 2023. Nonemployer Statistics, a separate program, counted 258 nail salons without paid employees in the county for 2024.
Beauty Salon Loans and Retail Product: Notes for Opelika, AL Salon Owners
Retail product, the shampoos, color lines and styling products sold at the front desk, is inventory. A salon placing a larger opening order for a new product line can fund it with a credit line or a small inventory loan, paid down as the product sells. Partners look at the salon's retail sales history, kept separately from service revenue if the point-of-sale system allows it.
Retail product ties up cash on the shelf until it sells, and some lines sell slower than others. A salon can check its point-of-sale reports for which products sold through in the last year and size the next order to those, rather than to the vendor's minimum. That sales record is also the strongest single document for a partner deciding on a stock-backed request.
Loans for Beauty Salons: Dryers, Nail Tables and Slow-Week Payroll at an Opelika, AL Salon
Dryers and nail tables are equipment; slow-week payroll is working capital. A salon facing both at once, perhaps after a remodel that closed some chairs for a week, can describe them separately. The equipment fits an equipment agreement; the payroll fits a credit line drawn for the short weeks and paid down when bookings return.
- Bank statements showing card and cash deposits by week.
- Payroll reports, including commission and booth-rent arrangements.
- The equipment quote or the remodel bid.
- The salon's latest tax return.
Barber Shop Loan Explained With a Lee County, AL Salon Buying Shampoo Units
A barbershop buying shampoo units, chairs and clippers is in the same position as a salon. For barbershops, the county figure to use is the wider hair, nail and skin care group in County Business Patterns: 37 employers in 2023, a group that also takes in beauty and nail salons. Nonemployer Statistics counted 78 barbershops without paid employees in the county for 2024.
A barbershop request leans on the shop's deposits, the chairs' quote and, where barbers rent chairs, the rent each chair brings in.
Business Loans for Salons: Nail Tables and a Remodel
A salon remodel combines equipment, such as nail tables and stations, with work on the space: plumbing for shampoo bowls, lighting, flooring and ventilation for a nail area. The equipment can be financed against itself; the work on the space fits a term loan or a general business loan. If the salon leases, the landlord's approval belongs in the request.
Illustration only, invented figures: a remodel with $12,000 of nail tables and pedicure chairs and $20,000 of plumbing, lighting and flooring could go to a partner as two pieces, $12,000 on an equipment agreement and $20,000 on a term loan, for a $32,000 project in all (our sum). Each payment then matches how long its part lasts.
Business Loans for Salon and Spa: What Opelika, AL Salon Owners Should Know
A salon that adds spa services, such as facials, massage or body treatments, takes on new equipment, new rooms and sometimes new licensing for its staff. A funding request for a spa addition describes the build-out, the equipment, the staff to be hired and the services the salon expects to sell, so a partner can see how the addition will pay for itself.
Beauty salons in Lee County, AL had 150 paid employees between them in 2023, and 19 of the 30 had fewer than five employees (County Business Patterns). When an owner holds the salon in their own name, a partner may read the personal tax return alongside the salon's statements.
Gym business loans and auto repair shop loans cover two other trades that run on appointments and equipment, and equipment financing, working capital loans, the Opelika, AL business page and the other industry pages add more.
By Elmgate Lending · Updated