Small Business Loans for Grocery Store Owners
Small Business Loans for Grocery Stores
In the past it has been difficult for grocery store business owners to receive business loans from banks due to the volatile nature of the business model. Banks see holding so much inventory as a risk, and compounding that risk is a major part of that inventory can spoil. There are also very slim profit margins so banks have made it difficult to obtain small business loans in this industry. At Shield Funding we see things differently. We believe that grocery stores are successful business models and should be supported financially. Those owners that are eligible will receive up to 500k in financing.
How Grocery Store Business Loans Work
Shield Funding business loans for grocery store owners differ in several ways from traditional financing. First of all, there is no bulk payment due at the end of the month. Owners receive loans based on average monthly sales so paying back the business loan is tied to sales. Every time a sale is generated, or every time a business deposit is made depending on the small business loan program chosen, a small portion is deducted and put towards the payback of the business loan. Using this payment structure grocery store owners do not have to worry about juggling large monthly payments or micromanaging their incoming funds to make sure payments are allocated accordingly. It is all done electronically so there is no check writing, missed payments with late fees, or worrying when the bills are due.
What Grocery Stores Are Eligible
Almost every grocery store is eligible to receive working capital with our company. The store has to be opened for at least three months with a small amount of consistent revenues each of the last few months. We do not consider credit history as a major approval factor because we attach the business loan payments to the company’s revenues. This loan structure was put in place to make funding more readily available for business owners no matter what their credit history looked like. We feel grocery stores are a very good business and there should be sufficient working capital available at all times for the owners of those businesses.
Shield Funding has been providing small business loans to grocery store business owners for almost a decade. Our application process is borrower friendly and we offer some of the most competitive rates in the industry. If you are in the grocery business and you require immediate funding call (888) 882-6117 or apply online with our easy to complete form.