Key Takeaways
- Cuban parolees with US salon revenue qualify — no green card needed
- Equipment financing for salon chairs, stations, and beauty equipment
- Working capital for product inventory, rent, and payroll
- Funding up to $1M for established salon businesses
- 48-hour decisions on working capital advances
Cuba's beauty culture is legendary — Havana's salons and barber shops are icons of Latin American style. Cuban parolees bring that tradition to the US, opening salons that quickly build loyal client bases in Miami, Tampa, and beyond. With strong chair utilization, high cash transaction volumes, and lower overhead than restaurant or retail operations, salons are excellent candidates for Bankable's revenue-based funding model.
Salon Business Funding Products
- Equipment Financing: Salon chairs, shampoo bowls, hair dryers, steamer units, nail stations — financed with equipment as collateral.
- Build-Out Capital: Leasehold improvements, plumbing for shampoo stations, lighting design, and flooring.
- Working Capital: Product inventory (hair color, keratin treatments, skin care), payroll for stylists, and rent bridge.
- Second Location Expansion: Once your first location is profitable, fund the second with demonstrated revenue.
- Retail Product Inventory: Stock professional beauty products for retail sale — high-margin revenue addition.
Haitian Parolees in Beauty Services
Haitian parolees — particularly women who trained as cosmetologists in Haiti or had prior US salon experience — are building braiding salons, natural hair studios, and full-service beauty businesses across South Florida, Boston, and New York. Haitian braiding salons serve both the Haitian community and a growing mainstream clientele fascinated by natural hair artistry. Bankable funds these businesses without requiring the green card that traditional banks demand.
Frequently Asked Questions
Yes. Cuban CHNV parolees operating US salons with verifiable revenue qualify for Bankable's equipment financing and working capital products. Your valid EAD and 3 months of business bank statements are the primary requirements.
Styling chairs, shampoo bowls, hair dryers (hood and handheld), color processing units, nail stations, pedicure chairs, UV/LED lamps, and salon furniture. Equipment must be from a licensed vendor with an invoice.
A valid state cosmetology or barbering license is required for funding. Licenses demonstrate professional credentials that strengthen your application. Parole status doesn't prevent obtaining cosmetology licenses in most states.
$10,000 per month in verifiable service revenue. This is lower than many other business types because salons are high-frequency, cash-efficient businesses where revenue consistency matters more than total volume.
Yes. Haitian braiding salon owners with verifiable revenue qualify. Note: natural hair braiding license requirements vary by state — some states require cosmetology licenses, others have separate braiding registrations, and some states have eliminated braiding license requirements entirely.
Revenue-based repayment takes a small daily percentage (8-15%) of your card transactions through your POS system. Cash revenue businesses can qualify based on bank deposits. Repayment flexes with your weekly service volume.
Yes. Once your first location has 6+ months of verifiable revenue, Bankable can fund a second location build-out. We use your first location's revenue as the primary underwriting factor.
Booth-rental salon owners (where the owner provides space and stylists pay per chair) qualify based on booth rental income and any in-house services. Documentation includes rental agreements and bank deposits showing consistent rental revenue.