Industry data
Financing for nail salons: what the loan data shows
1,088 SBA 7(a) loans went to nail salons recently, at a median of $121,000. The lenders that make them, the terms they write, and what underwriters look at.
1,088 SBA 7(a) loans went to nail salons in the most recent fiscal years, at a median of $121,000 over 10 years. 29.8% went to new or under-two-year-old businesses, and the most active lender was U.S. Bank.
What a nail salon loan actually looks like
These are approvals, not advertised ranges. Computed from SBA 7(a) loan-level FOIA data released 2026-06-30.
| Measure | Nail salons | All 7(a) borrowers |
|---|---|---|
| Loans approved, fiscal years 2023 to 2026, using data released June 2026 | 1,088 | 214,102 |
| Median loan | $121,000 | $150,000 |
| 25th - 75th percentile | $50,000 - $273,750 | $50,000 - $500,000 |
| Median term | 10 years | 10 years |
| Median initial rate | 10.50% | 10.25% |
| Share to new businesses | 29.8% | 33.6% |
| Charge-off rate, FY2010-19 | 8.6% | 7.1% |
What stands out
Reading these figures against all 7(a) borrowers:
- Loans here run smaller than average. The median of $121,000 is 19% below the $150,000 national median. Smaller loans price higher under the SBA spread caps, so budget for a rate above the headline range.
- Startup share is about average, at 30% against 34% nationally.
- No single lender dominates, but the top three made 26% of these loans, so the shortlist below covers most of the active market.
What lenders look at in this sector
Lease terms, build-out cost and whether technicians are employees or booth renters. Misclassification is a real exposure that surfaces during diligence on an acquisition.
Which lenders actually fund nail salons
Ranked by loans approved in this niche. The median, startup share and rate describe each lender's own loans to nail salons, not its national averages — which is how you spot a genuine specialist.
| Lender | Loans | Median loan | Startup share | Median rate |
|---|---|---|---|---|
| U.S. Bank | 105 | $40,000 | 27% | 9.49% |
| The Huntington National Bank | 103 | $50,000 | 27% | 10.50% |
| Readycap Lending, LLC | 78 | $183,500 | 3% | 11.25% |
| TD Bank | 74 | $40,000 | 39% | 11.50% |
| BayFirst National Bank | 54 | $148,000 | 0% | 13.00% |
| Newtek Bank | 50 | $175,000 | 44% | 11.00% |
| Northeast Bank | 46 | $100,000 | 22% | 10.75% |
| Wells Fargo Bank | 39 | $20,000 | 92% | 13.00% |
| Bank of Hope | 26 | $150,000 | 15% | 10.00% |
| Manufacturers and Traders Trust Company | 26 | $50,000 | 42% | 10.50% |
Where these businesses borrow
Most active states for nail salons: Texas (123), California (94), New York (79), Florida (68), New Jersey (66), Ohio (51).
Which financing fits
| Product | Fit for this sector | Typical cost |
|---|---|---|
| SBA 7(a) | The dominant vehicle in this niche | 10.0% - 14.0% APR |
| Equipment financing | For the hard assets, often cheaper separately | 7.0% - 30.0% APR |
| Line of credit | For seasonality and payroll timing | 9.0% - 60.0% APR |
| SBA microloan | If you need under $50,000 | 8.0% - 13.0% APR |
| Business acquisition loan | If you are buying an existing operation | 10.0% - 14.0% APR |
Before you apply
- Check coverage first. Run the payment through the affordability calculator at 1.25x.
- Shortlist from the lender table, favouring ones whose median loan here is close to what you need.
- Assemble the documents — see the checklist.
- If you are buying rather than starting, read business acquisition loans first; the injection rules and diligence are different.