{"id":34372,"date":"2018-06-26T00:27:26","date_gmt":"2018-06-25T23:27:26","guid":{"rendered":"https:\/\/phorest-ob-staging.com\/?p=34372"},"modified":"2024-09-04T11:38:48","modified_gmt":"2024-09-04T11:38:48","slug":"raise-money-salon","status":"publish","type":"post","link":"https:\/\/www.phorest.com\/gb\/blog\/raise-money-salon\/","title":{"rendered":"11 Ways You Can Raise Money For Your Salon In Ireland"},"content":{"rendered":"

Guest Article by Gloria Murray,\u00a0Accountant and Director of\u00a0Murray Associates Accountants<\/a><\/h3>\n

It might seem like a good decision to borrow money to fund your new business or expand your existing salon, clinic, or spa. Before you do this, make sure you look at your cashflow<\/a>. You have to make sure you can make the repayments each month without running out of cash. When you raise money, remember this: it\u2019s only the interest and finance fees that are tax deductible, not the capital repayments (the amount you borrowed in the first place). Plan for this!<\/span><\/p>\n

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Choosing Between Unsecured & Secured Loans To Raise Money: What’s The Difference?<\/h2>\n

There are two roads you can take to raise money: secured and unsecured finance. <\/span><\/p>\n

Secured<\/strong> means it has some form of guarantee. This might be over your home (if you own it), business premises (again if owned), or other assets like expensive equipment (think expensive equipment). <\/span><\/p>\n

Unsecured loans<\/strong> are generally based on how credit-worthy you are. Of course, this means that if you\u2019ve been made bankrupt in the past, or defaulted on credit cards or other loans, then this is not an option. <\/span><\/p>\n

Unsecured Loan Options<\/span><\/h2>\n