It allows current salon employees the ability to become an entrepreneur with the confidence that financing will be available up to $75,000. What is a "new business owner"? A new business falls into two categories:

Self-employed, Independent Contractor, or Employee

An individual who has been self-employed by another shop and has received a 1099 for at least two years.

Investor Program

It allows an investor(s) to become an entrepreneur and open the salon of their dreams without any prior experience in the salon industry.

The new business program is unique to the leasing industry. Since it requires more time and increases the risk to Elite Salon Financing, we require a refundable security deposit upon document signing (either 1+1, 10%, or 20%). Deposits and terms of the lease are determined by personal credit. We cannot process any paperwork until all credit requirements have been received.

New Business Program Requirements

• Completion of enclosed credit application, signed by all parties.

• Two years tax returns with W-2s.

• Brief description of business / business plan.

• Copy of state beauty license (NOTE: If you do not have a license, we will need a current cosmetology license from someone who will be working for you in the salon (TANNING NOT APPLICABLE).

• Landlord lease agreement / lease proposal.

• New business bank information (minimum balance of $1,500).

• Non-refundable application fee of $195.

We cannot process any paperwork until all seven requirements have been received.