Grocery & Convenience Store Loans & Financing
As a grocery store owner, you make important decisions for your business every day. You determine what your supermarket will carry and how you’ll serve your customers. Between your produce options, bakery and whatever other goodies your customers are requesting, there is a lot of inventory to stock up on each week. On top of all these responsibilities, you also set the rules, review payroll, make employment decisions and many other tasks for your team.
Like most small business owners, you’re always looking for ways to help your company grow. When there’s an opportunity to make changes in your supermarket, most owners turn to traditional cash flow lenders like banks to get the funding they need.
Unfortunately, finding funding as a grocery store owner isn’t as easy as it should be. It’s no secret that banks are often unwilling to work with convenience stores, even rejecting the most qualified loan applicants for the weakest reasons. At Fast Capital 360, we have faith in your small business and the vision that you have for your company’s future.
Our focus on growth is even part of our purpose statement. We consider growth to be of utmost importance, and know you do, too.
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Working Capital for Your Grocery or Convenience Store
When it comes to traditional loans, banks in the United States only approved 25% of all applicants in 2017. This leaves more than three quarters of applying business stuck without the funding they need to propel their convenience stores forward. With so many local supermarkets looking for financing, we wanted to make sure someone was on the side of the small business owner.
Fast Capital 360 has proudly funded thousands of supermarket and convenience store businesses across the U.S. for nearly a decade. After frustrated operators have been turned away for supermarket financing, they begin looking for a company who can truly help. Relying on us for quick working capital has allowed our merchants to grow their small and medium-size businesses at a faster rate than previously possible.
There are several reasons why grocery or convenience stores may benefit from fast business cash, including:
- New business equipment financing
- Expanding an existing space
- Covering payroll during slower months
- Covering inventory purchasing in preparation for seasonal peaks
Our willingness to work with small businesses is just one of the things thats sets our funding programs apart from traditional loans. All of our convenience store and grocery shop funding is quick and unsecured, meaning you won’t have to pledge personal or physical assets to receive the money you need to grow your business.
Securing financing or other loans from financial institutions can take 90 days or more to process convenience store loans. Fortunately, our funding works much faster. Completing an application can take less than 10 minutes, with most decisions coming within an hour. Once approved, you could receive the funding you need in as little as one business day.
Instead of evaluating a business simply by its credit score, we look at personal credit history, how long a business has operated for (minimum six months to qualify) and whether their operating revenue is $120,000 or greater. In fact, we recently reduced the minimum annual revenue businesses need to have in order to qualify for Fast Capital 360’s alternative financing to traditional loans.
Where traditional lenders are unwilling to offer grocery shop loans to business owners with less than ideal credit, we offer financing programs that work with these owners by judging their business on its health as a whole. Things happen; we get it. Your business shouldn’t be precluded from future growth thanks to past issues or mistakes.
As a grocery shop or convenience store owner, you have many different responsibilities; Deciphering confusing terms & conditions shouldn’t be one of them. As a member of the Responsible Business Lending Coalition, all of the terms in our contracts are crystal clear, so you know exactly what to expect with no surprises.