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Retail Store Business Loans

Retail Store Business Loans Can Help Your Business

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How a Retail Store Business Loan Can Help Your Business

There are two main aspects of running a retail store: (1) You need to maintain inventory and (2) get through slow seasons.

If you own a retail store, you’ve definitely experienced cash flow issues. Retailed-oriented businesses are highly seasonal. Off-seasons are a reality. For a majority of retail stores, a big chunk of sales come from certain times of the year, such as the holiday season, Black Friday, etc. As with other seasonal businesses, you can never be sure how long the seasonal slump will last.

A smart business owner will stock up on inventory and working capital before the busy season begins, but won’t necessarily see a return on their investment for a while. Retail store business loans provide working capital for your supply needs, as well as added flexibility to keep up with the demands of running your business.

As a retail business owner, you should be able to promise to provide nothing but superior inventory and high-quality customer service to your clients. You want them to continue to patronize your business, but it’s difficult to do if you don’t invest in the quality of your inventory, marketing efforts, and business location.

We know how hard it is to run a retail store. SMB Compass has financial advisors waiting to answer your questions and help you determine the right retail store business loan for your retail store needs.

How to Use a Retail Business Loan

When you are equipped with the right financing partner, your business will definitely be up for success. A retail store business loan from SMB Compass will help you finance your business’ needs.

With a retail store business loan, you’ll be able to:

Purchase Equipment

Depending on the type of retail store you run, your business might need new computers, printers, laptops, bookkeeping software, or maybe even industrial-grade equipment. A retail store business loan covers costs of equipment purchases and eases the burden of large purchases by enabling you to spread payments out over time.

Increase Working Capital

Working capital refers to the cash available on hand for your business. When your business is facing a dry spell or an off-season, and you need extra cash to run daily business operations, retail store business loanscan help with your working capital.

Advertising and Marketing Investment

Having a business website is hardly optional. In today’s technologically advanced world, every business needs a fully functional website that’s user-friendly and SEO optimized. By applying for a retail business loan, you’ll have the funds you need to cover the costs of hiring a reputable web developer to create a business website for you.

Buy Real Estate

Are you ready to take your business to the next level? Expanding your business can be exciting, but purchasing real estate for your retail business can also be costly. Retail store business loans can aid in business expansion by providing you with the funds to buy real estate.

Purchase Inventory

Retail stores usually buy inventory in bulk, even before they generate revenue. You can use a retail store business loan for your initial inventory purchases or to keep your shelves in stock during busy seasons.

The Best Loan Options for Retail Store Businesses

SMB Compass has several financing products to consider for your retail store business. We have experts that can walk you through the application process, and help you determine which type of business loan is best for your retail store.

The following are the different types of retail business loans for your business:

Retail Store Business Loans

SBA 7(a) Loans

The SBA 7(a) loan is a type of financing program created by the Small Business Administration. SBA loans provide longer repayment terms and lower interest rates compared to traditional loan programs. The SBA guarantees 85% of the 7(a) loan to the lender, which makes it easier for small businesses to qualify for a loan.

Equipment Financing

Every retail store business needs certain equipment to run the business. If you’re looking to purchase equipment, equipment financing is the best loan option for you. This loan provides you with the funds needed to buy equipment – oven, POS system, stove, laptops, etc. – for your business. You don’t have to pledge any personal asset since the equipment you bought serves as collateral for your loan. There are two main types of equipment financing: equipment leasing and equipment loans.

Retail Store Business Loan
Retail Business Loan

Merchant Cash Advance

If you need immediate working capital but you don’t have good credit, a merchant cash advance (MCA) is a great option for you. Unlike your regular loan, an MCA is a cash advance against your future debit or credit transactions. With an MCA, the lending company will provide you with the money you need and you pay it back by taking out a percentage of your daily debit and credit sales. Even though a merchant cash advance is not a loan, it still works similarly.

The Best Loan Options for Retail Store Businesses

SMB Compass has several financing products to consider for your retail store business. We have experts that can walk you through the application process, and help you determine which type of business loan is best for your retail store.

The following are the different types of retail business loans for your business:

Retail Business Loans

SBA 7(a) Loans

The SBA 7(a) loan is a type of financing program created by the Small Business Administration. SBA loans provide longer repayment terms and lower interest rates compared to traditional loan programs. The SBA guarantees 85% of the 7(a) loan to the lender, which makes it easier for small businesses to qualify for a loan.

Retail Store Business Loans

Equipment Financing

Every retail store business needs certain equipment to run the business. If you’re looking to purchase equipment, equipment financing is the best loan option for you. This loan provides you with the funds needed to buy equipment – oven, POS system, stove, laptops, etc. – for your business. You don’t have to pledge any personal asset since the equipment you bought serves as collateral for your loan. There are two main types of equipment financing: equipment leasing and equipment loans.

retail business loan

Merchant Cash Advance

If you need immediate working capital but you don’t have good credit, a merchant cash advance (MCA) is a great option for you. Unlike your regular loan, an MCA is a cash advance against your future debit or credit transactions. With an MCA, the lending company will provide you with the money you need and you pay it back by taking out a percentage of your daily debit and credit sales. Even though a merchant cash advance is not a loan, it still works similarly.