Are you a retailer in Canada looking to take advantage of an opportunity to grow your business or simply bridge the gaps between your cash flows? A business loan from Lendified may be the ideal option for you.
Business Loans for Retail Stores
The retail industry is an exciting environment, with its own set of rewards and challenges. Seasonal shifts, inventory needs, unexpected repairs, and the hiring of new staff can squeeze your working capital. Many Canadian retailers approach the banks to help, only to be frustrated by the strict requirements, loads of paperwork, and the months it can take to get funding.
At Lendified, we understand that sometimes retailers need cash quickly, whether to fulfill a big order or get a bulk discount. That is why we offer short-term business loans that are fast, simple, and affordable. Our online application can be completed in less than 10 minutes, our rates are cheaper than other alternative financing options such as a merchant cash advance, and you can receive your funding as early as the next day.
How Much Can I Borrow?
A retail business loan can range anywhere from $5,000 to $150,000. The amount available depends on the needs and financial performance of your retail store.
What Can Retail Business Loans Be Used For?
You can use your funding for anything you need to grow your business. We have helped retailers across Canada for a variety of reasons including:
- Hiring new staff
- Investing in new technology or equipment
- Upgrading furnishings and fixtures
- Buying more inventory
- Launching a new marketing campaign
- Opening a new store
Do I Qualify?
If your personal credit is above 610, your retail store has been in operation for over 1 year, and the business has reached annual revenues of at least $100,000 then you are eligible to apply.
Get the peace of mind that you have access to valuable working capital by starting an application now. You will receive a decision in minutes and each loan offer is valid for 1 week.