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How to Finance a New Retail Business

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Retail businesses face many challenges, from keeping inventory in stock, to hiring enough staff members to meet client demand on the sales floor, as well as staying ahead of product trends. For anyone with a new and growing business venture in the retail sector, it’s vital to have access to the right kind of financing to meet daily challenges and work towards reaching the goals in their business plan.

Merchant Growth offers several ways to finance a retail business, including fixed and flex financing solutions, as well as lines of credit. As an alternative lender for small businesses, our approval process is much faster than that of banks and credit unions. A fast-paced industry needs an approval process to match!

Whether you need to purchase inventory, renovate or expand your location or simply give yourself a cash flow buffer, our financial experts will help you with retail financing solutions that are designed with the realities of your business in mind.

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Financing Options for Retail Businesses

For small business owners, balancing cash flow considerations with other business demands is a constant juggling act, one that retail business loans and financing solutions are designed to simplify.

Retail financing and loan options include:

Small Business Loans

Many retail businesses turn to a small business loan because it can be short-term or long-term with fixed or variable interest rates. Payments can be made monthly or annually. Traditional lenders, like banks and credit unions, provide strict requirements for business approval, so many small businesses turn to alternative lenders for a business loan. Merchant Growth offers small business financing for retail that’s unlike the conventional bank loan.

Merchant Cash Advances

A merchant cash advance is perfect for businesses in the retail industry because it’s designed for credit and debit transactions. If you have a poor credit history or lack collateral, you can receive a lump sum upfront and repay it by giving the lender a percentage of future credit and debit sales.

Business Line of Credit

One of the more popular financing options in the retail sector, a line of credit offers revolving financing that can be used to meet virtually any kind of business need that retail stores encounter. Because you only have to pay interest on the amount borrowed, most retail business owners like this option because it provides much needed flexibility and can be used to address unanticipated expenses.

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How Retail Business Owners Put Their Financing to Work

Alternative lenders, like Merchant Growth, provide retail business financing solutions that are designed to help retailers thrive.

Retail business owners have a lot of their plate, so their financing can be used to meet many pressing business demands, including:

  • Hiring staff
  • Purchasing inventory
  • Renovating an existing retail store
  • Opening a new location
  • Expanding product offerings
  • Investing in marketing

Now that you know how to finance a retail business, and for what you can use the funds, you just have to assess your needs and business goals. The best people to do that are at Merchant Growth!

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Get Flexible Business Financing with Merchant Growth 

Canadian retailers can find peace of mind when they come to Merchant Growth. Our Flex Financing and Fixed Financing solutions can be tailored to your business needs and goals.

If you’ve been in business for at least six months in Canada and generate a monthly revenue of $10K, apply today or contact us to learn more!

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Complete our online application and we’ll contact you to present financing options tailored to your business needs.