Owning a successful retail store is not an easy task. With technology revolutionizing the way things operate, customers expect more from retailers than ever before. Point of sale security has also become another major concern among customers, but where do retail store owners find the capital to pay for these upgrades?
Retail business loans can help store owners find the cash flow they need when Point of Sale (POS) software and hardware has to be updated, when unexpected inventory purchases need to be made or when employee wages are outweighing slow-seasonal sales. However, since retail stores are labeled high-risk merchants, most traditional lenders will constrain from providing business owners the financing they need. But where do retailers turn to then?
Alternative lenders can be the financing solution for retailers looking for retail business loans. Not only can the funds be provided within 24 hours, most alternative financing companies do not require perfect credit either. Retail business loans can also be used for virtually any business purchase, which makes them even more enticing for small business owners.
For example, a retail business owner has an opportunity to expand their business to another location, but just doesn’t have the working capital to support it. A retail business loan, from an alternative lending company, could supply the cash flow they need in order to secure the second location. With a 24-hour turnaround, minimal paperwork needed and a completely online application process, retailers can have the retail business loan by the next day essentially.
Bizfi’s online lending marketplace can help find financing for your business. Check out Bizfi’s online calculator tool to see if your retail store qualifies for a retail business loan.