Consignment shops have received a lot of attention in recent years. They have become extremely popular places where people go to shop. Also known as “resale” shops, they are now competing with major retailers. Being a growing industry, consignment shops are attractive to many small business owners. Although this is a growing industry, it still has obstacles and challenges. Payroll, rent, and Point of Sale (POS) software and hardware are just a few examples. In addition, there are seasonal swings that can affect retail businesses. Consignment shops need capital to stay afloat and grow. Luckily, there are banks, credit unions, and alternative lenders that can provide consignment shop financing.
Consignment Shop Financing
You may have applied for a loan through a bank or credit union and were already turned down. They desire to extend retail loans to companies that are thriving and have miles of red-tape and requirements before offering an approval. For example, banks and credit unions have a lot of requirements for a business to receive a loan. Most require a minimum of 3 years in business and a FICO score of at least 750. In addition, it can take a lot longer to receive financing. What about the retailer who may have had some setbacks but still run a successful company?
The SBF Difference
Small Business Funding can help with retail loans. We have programs specifically geared towards retailers. Programs include lower rates, more attractive terms, and larger loan amounts. We help connect you with a lender that is truly concentrated on your business needs. Our network of lenders will compete to provide you the best possible loan product. We will sort them and present them to you. You have a business to run – let us do the heavy-lifting. Whether it is a business cash advance, with only a small set percentage of your daily revenues being owed, or an unsecured small business loan, we have the solution. There is no collateral required and you don’t need perfect credit. In fact, many of our programs don’t require any credit at all. Call today or apply now!