Over the years, the pet store industry has seen a steady increase in annual sales. These days, it holds a market size of $21.1 billion in the U.S. alone, according to IBISWorld. By 2025, it’s expected to reach roughly $22.5 billion, according to Statista.
In an expanding industry such as pet stores and pet grooming, additional working capital can benefit most businesses.
Want funds for market research and advertising? Looking to design a product from scratch? Whatever your needs, pet shop financing can help.
Why Pet Store Business Loans With Banks May Not Be Your Best Option
Pet store business loans can be used to purchase new inventory, open a new location, buy new business equipment and many other beneficial uses.
Most pet grooming businesses for cats and dogs will look to conventional lenders, such as banks, for the pet store business loans they need. Over the years, however, banks have made it exceedingly difficult for many small business owners to qualify for funding.
In part because of an increase in the demand for small business loans, banks have had to raise their standards, resulting in many small businesses being turned away.
As pet grooming and pet store business loans from conventional banks are becoming more challenging to come by, many businesses have been forced to look elsewhere for the loans and unsecured business lines of credit they need.
This is where online funding companies, such as Fast Capital 360 and the fast alternative pet shop financing offered through our network of lending partners, may offer the perfect solution.
