Beauty Salon Feasibility Study in the Cleveland, OH Metro Area

Where Cleveland stands for this class

SBA's records print 110 approvals for hair and beauty salons in Cleveland from FY2017 to FY2026, with $17.6 million in gross dollars approved. By rank, Cleveland is 19 of 546 across metro and micro areas, and beauty salons hold 4 of 39 within the metro's lending classes. The middle half of approvals sit between $25,000 and $139,250. A ratio of 1.02x on the location quotient leaves salon businesses with about the same portion in Cleveland against the country as a whole. The local midpoint is $50,000, which is 0.50x the class median nationwide, so approvals run smaller here.

Programs, franchises and lenders in Cleveland

The program split for beauty salons in Cleveland is not printed, since the count under one program rests on a handful of loans. No 504 bank is listed for beauty salons in Cleveland on this page. Franchise-affiliated borrowers make up 6.4% of beauty salon loans here. On the 7(a) side, 67 loans sit with The Huntington National Bank, 7 with U.S. Bank, National Association and 7 with KeyBank National Association. The institutions above are shown as today's holder of its loans in SBA's files; this locates the paper, and it does not describe how any institution treats an applicant in Cleveland.

Counties and years in Cleveland

Project counties rank Cuyahoga County, OH first (66), Lorain County, OH next (16) and Lake County, OH third (13). Volume was highest in FY2025, with 17 loans worth $1.7 million, and lowest in FY2018, with 5 loans worth $384,000.

Reading the Cleveland floors with care

The Cleveland count is assembled from counties: a salon loan counts toward Cleveland only when its project county, as SBA records it, appears by name in the July 2023 metro list. Over FY2017 to FY2024, 9.4% or more of Cleveland beauty salon approvals were called off after approval, in this cell, a floor (no ceiling is shown). A charge-off rate does not show up for hair and beauty salons in Cleveland, because the disbursed cohort behind it is too small to print; that is never a finding of zero.

Feasibility questions for hair and beauty salons around Cleveland

First of all, Cleveland demand has to be tested: clients and return visits, and walk-in against booked work. The approval history of 110 loans shows what lenders have done for beauty salons, and is silent on a specific corner. A study promises no approval; what it does is put a lender and an applicant in front of one SBA record for Cleveland. The appraisal needs its own attention: value that follows stylists, and equipment with little collateral value. Cost comes next, counting stations, plumbing and furnishings and rent the chairs can carry, measured against the Cleveland midpoint loan of $50,000. The analysis must reflect debt service coverage for beauty salons in Cleveland under a late-start case; as reported, the floors for loss on this page explain why.