Health and Beauty Business Loan

Health and Beauty Business Loan

As the owner of a small health and beauty business, you understand that there are several associated challenges. Perhaps you have a new location in mind, need to bring on some new employees, or want to launch a marketing campaign, whatever the reason, Driven has the capital solutions to help you reach your goals.

Health and Beauty Business Loan

Canada has a thriving health and beauty industry that has been serving our communities for decades. Due to the diverse and inclusive environment that Canada offers, it is a popular site for health and beauty businesses. Operating a health and beauty business comes with some key responsibilities that can make or break your business. You must have a clean and inviting workplace, well-trained staff, and the proper equipment to treat your customers.

While being able to make people healthy and beautiful is wonderful, it has proven to be costly. That’s why it's important to have access to consistent funding. Driven offers health and beauty business loans of up to $300,000 with a variety of flexible payment options, providing entrepreneurs with the capital they need to build the best possible health and beauty experience. Our application process is quick and easy, allowing you to access the funding you require in as little as 24 hours.

How can a health and beauty business loan help me?

Equipment

You cannot operate a successful health and beauty business without the proper equipment. You’ll need to purchase the right tools such as hairdryers, combs and brushes, scissors and clippers, straighteners and rollers, etc. Additionally, you’ll need to purchase furniture, shelving, and makeup supplies. These kinds of supplies and equipment don’t come cheap. Use a health and beauty business loan to finance those purchases.

Rent and utilities

Depending on your location, rent may be one of your largest expenses as a small health and beauty business owner. You will also need to account for the cost of utilities such as energy and hydro, and other month-to-month fees such as phone and internet payments. A health and beauty business loan will allow you to allocate funds to ensure you are able to fulfill your bill payments each month.

Insurance and Licensing

Operating a health and beauty business in Canada requires you to have all the necessary business licenses and permits for you and your staff, such as a cosmetology license/certification.  Additionally, you’ll need to purchase liability, property, and workers compensation insurance in the event that property is damaged or one of your employees is injured on the job.

Interesting facts about the health and beauty industry in Canada

  • According to data from Statista, in 2020, nearly half of surveyed Canadians spent between 100 and 499 dollars on skin-care products. In the same year, just over 40 percent of respondents said they had spent 99 dollars or less, whereas around 10 percent of participants spent 500 dollars or more on skin-care products.
  • The displayed data on purchase criteria for personal care shows results of the Statista Global Consumer Survey conducted in Canada in 2022. Some 56 percent of respondents answered the question "Based on which criteria do you usually select your body care and cosmetics products?" with "Quality".

How it works

01

Apply in 3 simple steps and
get pre-approved instantly

Our all-digital credit application process is quick and easy and typically takes less than 10 minutes. We ask for basic information about you and your business. We ask you to securely connect your online banking information. And as soon as you're done, we'll tell you exactly how much you can borrow - all without hurting your credit score.

02

Draw what you need, when you need it

When your application is complete, you'll know exactly how much you can borrow, but only you know how much you actually need right now. Make individual draws from within your overall business loan limit, each with their own fixed fees and terms. All pricing is up front, with nothing hidden in the small print.

03

Use our support for whatever you need

Choose the repayment schedule that makes sense for your business—from daily, weekly or bi-weekly payments, or pay early to save on interest. Borrow from $500 to $300,000 on 2, 3, 4, 6, 9, 12, 18 or 24 month terms, with absolutely no hidden fees.

See if Your business qualifies

Qualification is simple.
No heavy paperwork.

If your business meets the following basic criteria, our all-digital application process will have us on the way to helping you in minutes.

Your business is legally registered

Your business is based in Canada

Your average monthly revenue is at least $3,000

You have been operating for at least 3 months with a dedicated business bank account

You have good personal and business credit history

What do you need right now?

Every day brings a different challenge and a different opportunity. At Thinking Capital, we're here with the funds you need when you need them, whether that's to seize the moment, to face down business calamities, or to bet on yourself as you take your business to the next level.

Funding the unexpected

Funding the unexpected

Truck broke down? Receivables late? Product stuck on a ship somewhere?

When the unexpected happens (and it will), we’ve got you.
Marketing Funding

Marketing Funding

Got a great product but need to get the word out?

A business can’t grow without putting itself out there. We help you line up your brand, marketing, and ad spend to make that big public splash.
Funding New Projects

Funding New Projects

New products? Channels? Seize-the-moment growth opportunities?

Whether it’s expanding to new locations, audiences, or product lines, we help you invest in growing your business.

We've got you

We're here to make life easier for Canadian small to medium businesses like yours. How can we help you today?