Grocery Store Financing
Independent grocery stores need capital to compete with larger established stores with brand familiarity and strong brick and mortar presence in the community. To help them compete against those big box giants crowding out the industry, Some of our partner has created financing options specifically for grocery stores to serve their markets and remain competitive. While the industry has maintained their sales throughout the pandemic, capital remains the key to overcoming short term cash shortfalls to cover inventory or seizing long term opportunities like buying a new location. Our grocery store loans and lines of credit can provide you access to the right loan products, and we can do it fast by funding your business loan in 3-5 days! When it comes to grocery store financing, our team of personal loan consultants specialize in providing the trusted lending services you need to keep your business profitable and on track to achieve your long-term goals.
At Bigglone, our focus is to get you the capital you need when you need it, all while providing seasoned guidance to help you maximize your return on investment. Confidently approach wholesalers for best volume pricing for your store when you have the capital needed to make it happen.
We’re devoted to sticking by your side for the long haul, ensuring you can capitalize on new business opportunities as they develop. Here are some valuable options to put our grocery store financing to work in your business.
A, Open a new location
B. Storefront improvements
C, Investing in new technology
D, Purchasing additional inventory
E. Investing in new marketing initiatives
F. Buy out a business partner
The Difference is Insight
It Pays To Be Prepared
Grocery store owners know their big box competitors are prepared for any eventuality so they too need need fast access to working capital as new opportunities and/or issues arise. We may be able to help you be ready for the unexpected?with our partners loans or line of credit from $5K to $500K to use for any business situation. With a line of credit, you only pay for what you use and it is tax deductible so you can comfortably borrow what you need exactly when you need it.
Renovate Or Remodel
Any grocery store owner knows how long a traditional bank can take to process a business loan. And the cost of that loan makes it prohibitive to keep up with much needed remodels or renovations. One of out partner’s has a Flex Pay Loan which allows you to borrow now, grow now, and pay later! Flex pay allows you to defer up to 50% of your principal into the future for the lowest payments now! And, all our loans come with fixed rates, transparent terms, and no need for collateral. This way, you’ll be able to capitalize on growth opportunities now and pay back your loan when you’re ready.
How to Qualify for Grocery Store Financing
·???????Credit Score- Do you have a credit score of 551 or higher? Then you may qualify for grocery store financing! Our local loan consultants can you walk you through the tiers you qualify for with a real time offer that will show your financing options for your grocery store.
·???????Time in Business- Have you been in business for 12 months or longer? While we do focus on existing businesses, three months operations is sufficient to determine what financing your grocery store qualifies for. We do not finance startup grocery stores.
·???????Bank Statements- We do ask for bank statements to determine your cash flow and overall health of your business. We do this by reviewing either your business checking or business savings account.
·???????Annual Sales- Do you have annual sales of $100,000 or higher? This is a crucial factor in determining if you qualify and how much grocery store financing you qualify for.
·???????Debt to credit ratio- grocery store financing requires an examination of your debt to credit ratio to qualify for our loans and lines of credit. If your restaurant is carrying too much debt, we will regularly offer to pay off competitor loans if your business qualifies. Maximum 2 competitors.
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If you are a grocery store owner looking for financing options such as a working capital loan or even a line of credit with guaranteed rates, fixed terms and affordable payments, simply begin your online application today. We have?local loan consultants?who are knowledgeable about your specific market and will work side by side with you throughout the process. Our online application is free and there are no hard credit pulls so your credit will not be affected.
Types of Grocery Store Financing
We can provide grocery store owners the opportunity to choose from many business financing options that best fit their business needs based on their business model, operations and cash flow constraints. With many different types of loans and lines of credit, our local loan consultants will help you determine which will meet you business needs while saving you the most money for your business.
Grocery Store Working Capital
Grocery stores need consistent working capital. This has held true for every grocery store owner we have ever spoken to since 2001. Working capital loans help grocery stores finance their every day business operations with no hidden fees and no payment surprises of a merchant cash advance. Our partner’s working capital loans help grocery stores by having fixed terms so your payments will never fluctuate and the interest is tax deductible so your loan costs even less in the long term.
Line of Credit for Grocery Stores
A line of credit is an approved loan extended to grocery stores which allows them to draw upon when the need arises. This type of grocery store financing allows grocery store owners to pull funds from their line of credit as needed and only pay interest on the money they take. grocery store owners have 24-hour access to 5 separate loan drafts over a 6 month period. Funds can also be requested online! grocery store owners know that business conditions can change quickly. Unexpected issues arise. Windows of opportunity open.?Thousands of grocery store owners have learned that with a business line of credit from one of our partners, they are prepared for anything.
Grocery Store Flex Pay Loans
These are perfect grocery store loans because they help you borrow now and pay later. Simply put, you can borrow what you need now, renovate your grocery store now and you won’t have to make payments until you are operational again later!?It allows you to defer up to 50% of your loan’s principal into the future for more affordable payments now, and have the flexibility to pay it back when the time is right. This maximizes your cash flow while providing you the capital you need now! Further repayment flexibility allows you to amortize the deferred principal over time, roll it into the future, or simply refinance it.
Funding your Grocery Store with a Bridge Loan
Opportunities are plentiful right now for grocery stores. If you are experiencing strong growth but your bank is struggling to keep up with your funding needs, we have a solution.?ARF has a loan product that provides ‘bridge’ or ‘gap’ financing so you can proceed with your growth plans while you work with your bank to secure traditional funding sources such as an SBA loan. A Bridge Loan is a financial product that functions as a short-term amortizing loan to support projects or investments that are expected to generate returns. Small businesses like grocery stores, particularly in their early phases, frequently see the chance for extreme growth, but often on the other side of a financial hurdle. Bridge Loans are an ideal financial solution to open the door to new opportunities.
SBA Loans for Grocery Stores
These loans are notoriously difficult to get approved. And if they are approved, they take three to four months of application process before a final approval is issued and the loan then funded. We can have you approved for grocery store financing in 24-48 hours and your loan can fund in 3-5 days. If you are in the process for SBA loans and urgently need to take advantage of a business opportunity, our Bride Loans are perfect to help you capitalize on growth opportunities while waiting on your SBA approval.
Merchant Cash Advance
Most of our partners are not?a cash advance company. They offer?real bank loans?with low, fixed terms for those who qualify with the only difference being we can fund our loans much faster than a traditional bank. While cash advance help grocery store owners with quick cash, this alternative form of financing has a different loan structure which is expensive with based on the store’s daily credit card receipts. This means, if the store’s sales increases then the daily payment to the merchant cash advance company also increases escalating the interest rate while ensuring the cash advance company is paid sooner. Unlike a cash advance, grocery store financing from our partners, allows a business owner to keep the additional profit generated from their hard work!
If you are a grocery store owner looking for financing for your business, we can help you get a business loan fast without collateral and with limited paperwork. That means the interest is tax deductible, rates are fixed, and you know the terms ahead of time. Our grocery store owners get the financing they need, with manageable payments that won’t increase as revenue grows. Contact our?local loan consultants?or apply below to get started now.