Should You Apply For a Medical Spa Business Loan?

What is a Medical Spa Business Loan?

Medical Spa Business Loans are industry-specific loans offered by traditional and non-traditional lenders to support various business needs. Today’s post will explain how such a loan can help your business grow.

A medical spa is a hybrid between a aesthetic medical center and a day spa with four core elements: (1) the provision of non-invasive aesthic medical services; (2) under the general supervision of a licensed physician; (3) performed by trained, experienced and qualified practioners; (4) with onsite supervision by a licensed healthcare professional.

American Med Spa Association

These loans provide funds to small and growing practices to enhance their business endeavors. Medical spas often use the funds to:

Depending on the loan you qualify for, your medical spa can utilize these funds to cover any necessary expenses to ensure your business runs smoothly.

Types of Medical Spa Services

Medical spas that provide these services can improve their business endeavors through a loan:

  • CoolSculpting
  • Laser Hair Removal
  • Botox/Filler Injections
  • Microneedling/ Skin tightening
  • Massages
  • And Other Medical Spa-Related Services

Many successful medical spas require a steady flow of clients and working capital to maintain operations. The best solution for those who need quick funding is to gain access to necessary funds through a loan. Business owners should apply for loans that offer low-interest rates, down payments, and collateral requirements.

Types of Medical Spa Business Loans

Here are the types of loans and financing options available to qualifying medical spas:

  • SBA loans
  • Business Lines of Credit
  • Equipment Financing
  • Long-term Business Loans
  • Short-term Business Loans

SBA 7(a) loans are the most common within the SBA family. These types are typically adequate for most industries with up to $5 million in working capital for 25 years and an APR of 5-9%.

Equipment loans are funding options that allow for business-related equipment purchases. A Business Line of Credit is effectively a source of funds that borrowers can readily tap into at their discretion. Lenders often extend credit to creditworthy customers to address fluctuating cash flow needs. Companies opt-in for this loan can buy items such as a massage table, body contouring equipment, facial skin scrubbers, hot towel cabinets, and laser equipment.

Long-term Business loans provide borrowers with a lump sum of funds, with a repayment plan of regular intervals of 3 to 5 years. This financing option is best for businesses that need significant capital at a lower interest rate.

Short-term Business loans provide a lump sum upfront to a borrower and have a repayment period of three months to two years.

There are plenty of advantages to utilizing a medical spa business loan. Short-term loans have almost no limitations on their uses, and borrowers can decide how to spend the funds once they receive them within 1-2 business days. These loans and financing options are intended for businesses within this niche to expand and ultimately acquire new customers to be successful.


Here are some of the advantages of medical spa business loans and financing:

  • Gain access to the working capital needed to maintain day-to-day operations
  • Receive the necessary funds to purchase and upgrade any medical-spa or office-related equipment
  • Renovate your existing office or utilize the funds to acquire a second location.
  • Improve your cash flow by consolidating existing debt into a low monthly payment
  • Utilize funds with little to no lender restrictions – The funds provided are received as lump sums in your business bank account.
  • Improve your marketing and advertising endeavors to acquire new customers

First Union Lending Is Ready to Help Your Medical Spa

At First Union Lending, our funding specialists are ready on standby to help determine your qualifications and walk you through the application process to receive funds as soon as possible.

While each of the available loans has varying qualifications, we will typically ask for the following general information:

  • Business Operations History
  • Business Revenue Statements
  • Personal & Business Credit Scores
  • Collateral if needed

Once we’ve received your information, reviewed your application, and approved the loan.

Your business bank account will receive funds in a matter of days. Once deposited – you have free reign to use the funds to help enhance your practice.

First Union Lending has provided working capital to many medical spas run by passionate healthcare workers who enjoy treating their patients daily. We are ready to help small and growing medical spas attain the necessary funds when needed. First Union Lending offers numerous financing programs designed with small businesses in mind.

We have the funds to help! Our business loans are fast and flexible, with financing options ranging from $5,000 to 2 million dollars. Call today to learn more about our various financing solutions to help your business grow and succeed.