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Retail Financing Services_clothes on hanger

Tailor-Made Retail Financing for Small Business Retailers

Retail is an exciting industry with its own set of rewards and challenges. The retail business offers all sorts of products and services to consumers, but like any business, retail also experiences seasonal shifts, inventory needs, unexpected repairs, staffing and training challenges, and more.

All of these have the potential of draining your working capital just when you need it most. This is where Lendified can help.

Why Use Lendified’s Retail Financing?

While banks offer financing options, they often have very strict financing requirements and conditions attached.

Not only is there a huge amount of paperwork involved, Canadian retailers find that it can take months to get the funding they need for their business, and time is often a luxury small business simply can’t afford.

With Lendified, you have better options.  

We understand that retailers sometimes need financing customized to their business. At Lendified, we make sure that your business can get the cash it needs quickly and easily.

That’s why right now we’re offering financing and retail business loans that are fast, simple, and best of all, affordable.

How Does It Work?

Our online application can be completed in just minutes. Best of all, once you’re approved, you can receive up to $150,000 in as little as 48 hours!

  • We offer financing for retail businesses from $5,000 to $150,000. 
  • You can be pre-qualified in a matter of minutes  online.    
  • The retail finance application process is quick and easy: we ask you a few questions about the nature of your small business and do a quick summary of your historical sales volumes.  
  • Once we determine how much retail financing you are eligible for, we make sure you receive your business financing within 3-5 business days.  

If you’re looking for a quick and easy way to get a retail financing option that works for you without dealing with the banks, simply fill out our online application form on you’ll be on your way! 

The Problems with Applying to a Bank

As a small business owner, you may be aware of the difficulties inherent in applying for financing from a bank. While you may have originally thought going to a large bank or financial institution would be a smooth process, the reality is something quite different.

It is common practice for large banks to review your documentation in detail, including items such as your:

  • Personal and business credit history
  • Detailed business information and data
  • Collateral options available to you

Because the approval processes are so rigorous, the application process takes much longer to complete. And if you do manage to meet their strict requirements, you will be presented with a generic loan plan that may not be ideally suited to your business.

They may offer financing with a plan that has prohibitively high interest rates, one that will hurt the overall health of your business, or a repayment schedule that is out of sync with your expected sales patterns, making repayment more difficult than it should be.

Unfortunately, traditional lenders do not value your repeat business or your loyalty, and they often reject smaller loans as too risky. You won’t receive favorable terms or special treatment.

Lendified, on the other hand, appreciates your loyalty and will make sure you receive the best business financing terms possible, in as few business days as possible.

Reasons Business Owners Need Retail Financing Options

You can use your funding for anything you need to grow your business and get more consumers in the door. We have helped retailers receive small business loans across Canada for a variety of reasons, including: 

  • Fulfilling a big order  
  • Getting a bulk discount 
  • Hiring new staff 
  • Investing in new technology or equipment 
  • Upgrading furnishings and fixtures 
  • Buying more inventory for busier seasons  
  • Launching a new marketing campaign/program
  • Opening a new store
  • Paying unexpected bills

Many small businesses need all the help they can get, so we make the process as simple for them as possible. We know how busy you are and you don’t have time to stress over where you’ll get the financing you need. With the only constant in the retail industry being change, business owners require access to fast funding to make sure that they can pay their employees, continue to grow, and upgrade their sales numbers over the long term.

Seasonal Changes

Supply and demand drives the retail industry. Customers always want new products, which means small businesses need to constantly update their inventory to accommodate the masses, often buying one or more seasons ahead. Bringing in new stock and advertising sales of those new items are some of the most common reasons businesses apply for retail financing.

Summer

This season is mostly spent advertising sweet deals to entice customers to purchase old and some of the new stock. Businesses may also be thinking about doing renovations or adding upgrades. Participating in local events will boost awareness of your business’s brand. Usually by August, it’s time to transition the fall items in, such as warmer sweaters and thick coats, outdoor winter tools, and snow blowers. And don’t forget about the Back-to-School sales!

Fall

Inventory will start to include full-on winter apparel and holiday decorations. Homeowners will start thinking about winterizing their homes and stock up on sand or salt for their properties, as well as shop for large turkeys and other food products that are available only during the fall and winter. Cyber Monday and Black Friday are big-ticket selling days, so stores need to prepare everything well in advance.   

Winter

January and February are notoriously slow periods, so our financing options can help you pay bills during this time. In-store and online marketing is vital during the post-holiday season, so taking advantage of Lendified’s financing during winter can be a life-saver.

Spring

Many businesses will take this opportunity to refresh their store, either through brand re-imaging, simple renovations, or even purchasing another location to expand their small business.  March is the time when businesses start hiring again as well, so financing could help you hire and train new staff members. This season also has various holidays to promote sales, such as Easter.

Throughout the year, you can also hold contests to reward loyal customers and welcome new ones.  Lendified’s retail financing options are available to transform the way you do business.

Avoiding Debt

Not all small businesses start up on a solid financial foundation. Unfortunately, instead of taking the time to shop around for loan options and get the best price, some business owners will rely on their credit card for quick cash.  Using a credit card can be a very bad idea in some circumstances, and put you and your business further in debt than you would like.

With the help of a Lendified expert, we can design a flexible, customized plan with affordable monthly payments to ensure that your business profits from our financing while also avoiding debt. 

Approval for All Businesses

At Lendified, we don’t discriminate. We serve all Canadian retail businesses, including those that are women-owned and run by minority groups. More and more small businesses run by women and minority groups are on the rise, and Lendified is here to embrace them and provide the financing boost they need.

A business that has bad credit can struggle to deal with the stigma that comes with it. But bad credit can mean that your business needs more time to build a strong credit history. Lendified’s experienced advisors will provide suggestions on how to improve your credit and gain the necessary financing you require. 

Bottom Line

The loan advisors at Lendified are here to help your business run smoothly. We work with you to determine the best financing option tailored to your business, helping you meet your retail financing needs.

Lendified is dedicated to assisting small business owners across Canada, and we want to help you! Start the application process now, and make sure your business reaches its full potential.

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