A Hair Salon Funded A Refit From Card Takings

A well established salon with steady card takings and a quiet January every year. The owner wanted two extra chairs and a new backwash, but a fixed monthly loan repayment set in autumn looked uncomfortable against a January.

The salon was also taking payment at one fixed counter, which caused a queue at the door on Saturdays.

We supplied a portable terminal so payment can be taken at the chair, which removed the counter queue. The rate was quoted against the salon's real card mix rather than a headline figure.

For the refit we arranged a merchant cash advance repaid as an agreed percentage of card takings, with the total cost fixed at the outset and no monthly repayment date.

The refit went ahead in the spring and repayments have moved with trade, easing off naturally in the quiet weeks. The owner has one contact for both the payments and the funding.

Business funding is subject to eligibility and provided through our funding partners. Terms depend on your card turnover and trading history.