Tea shops are a growing type of small business in the United States. The overall tea industry has seen growth in recent years. The industry continues to thrive and consumer interest promises further success for this industry. Although this is a promising industry, tea shop owners still face many challenges running and growing the business. Any small business owner knows that capital is necessary to overcome any or all of these challenges. Luckily, there are banks, credit unions, and alternative lenders that provide tea shop business financing.
Tea Shop Business Financing
Tea shop business financing may be difficult to come by for some tea shops. Banks and credit unions can make it even harder to secure financing. Both would request several years bank tax returns, a recent profit and loss statement, and several months of bank statements. Most require a minimum of 3 years in business and a FICO score of at least 750. In addition, it can take awhile to not only get approved for financing but also receive the capital.
With Small Business Funding it is easier to get the financing that your tea shop needs. Bad credit, bankruptcies, and tax liens are okay (as long as there is a payment plan in place). Documentation required to receive an approval is an application (one page), 3 months of bank statements and 3 months of credit card merchant statements (if you process credit cards). This information will allow an alternative lender to provide you with a decision within 24 hours.
Small business funding has a merchant cash advance program specifically for businesses such as coffee shops. We understand the necessity for a fast cash infusion and finding someone who can facilitate the funding makes your life easier.
ACH Revenue Based Loan
If you do not want to have payments held back through your credit card processor then you can have payments debited directly from your business bank account. This too can be a fixed percentage of your daily credit card sales or it can be a fixed daily payment Monday through Friday. So the necessity of accepting credit cards is NOT a requirement. An ACH Revenue Based Loan is an option.
With tea shop business financing you can grow your shop to its fullest potential. You can also buy any new equipment you may need or use it to make payroll. Small Business Funding can help you do what you need to in order for your tea shop to be a great success. Apply for a small business loan today and find out how much you are approved for tea shop business financing. There is absolutely no obligation.