Do you run a clothing brand, restaurant chain, or retail store? But having turbulence in handling day-to-day expenses. Then, no need to worry! Upwise Capital has a business loans for retailers that encircles day-to-day expenses, purchase of equipment, rent or buy real estate or pay for any other costs that go into expanding your company. Many loans are available, including inventory, working capital, equipment, term, SBA, and business line of credit. So, comprehending your choices before opting for a loan guarantees you get the most suitable sanction for your requirements.

What Does Retail Business Loan Means?

Retail business loans offer finances to businesses like grocers, clothing brands, and restaurants. These loans differ in how and when you will get funding and repayment options. Below are the preferable retail business loan options:

Equipment Financing

Equipment financing is for purchasing equipment or any other inventory. Now, how is the loan secured? The purchased equipment secures the loan. Financing details are as follows:

Maximum loan amount - 100% of value
Loan term - 1 to 8 years or predicted life
Interest rate - 4.59%
Sanction time - 2 Days


SBA Loan

SBA loans are business loans for retailers partly secured by the U.S. Small Business Administration (SBA). There are 8 types of SBA loans designed to meet your needs as follows:

SBA 7(a) loans
SBA 504 loans
SBA express loans
SBA microloans
SBA export working capital loans
SBA export express loans
SBA international trade loans
SBA disaster loans

Working Capital

Working capital involves acquiring an upfront cash advance to guarantee the company has enough cash to manage operating expenses.

Maximum loan amount - $5K to $25M
Loan term - 3 to 24 Months
Factor rate - 1.10 to 1.45
Sanction time - Same day

Term Loan

Disbursement of the term loan is done in a lump sum, and repayment can be done through regular installments, often monthly, over a preset term.

Maximum loan amount - $25K to $20M
Loan term - 1 to 7 years
Interest rate - 5.99% to 26.99%
Sanction time - 2 Days

How Retail Store Business Loan Works?

Retail store loans provide money to keep your retail business floating and succeeding. After disbursement, you are bound to repay the retail store business loan amount weekly or monthly, with interest charges. Having said that, consider the below mention factors to find the loans according to your needs:

Loan Type
Annual percentage rate (APR) & fees
Repayment terms & schedule
Customer support options

Documents Which You Need To Submit to Apply For a Retail Business Loan

Are you planning to apply for a retail business loan but need clarification on the documents you must submit? Well, worry not! Upwise Capital has got you covered. Below is the list of documents that you need to provide to apply for a retailer's business loan:

Completed application
Driver's license
Voided business check
Last 6 months of business bank statements
A credit score of 700 & above for good offers

If you are planning to apply for a $100K loan, then consider the below list:

Balance sheet
Profit & loss statements
Business tax returns
Personal tax returns
Amount receivables report
Inventory list

The Bottom Line

Are you looking for ways to grow your retail business? If yes, you learned how to unlock growth through the above essential guide to the retailer's business loan. This comprehensive guide gives you the breakdown of securing business loans to help you expand your operations and boost sales. So, if you're ready to take your retail business to the next level, look no further than Upwise Capital! We specialize in retail store business loans to finance your business quickly.