Business loans for retailers

Retail can be a tough industry, but independent businesses like yours are very good at adapting to change. Here’s what the industry currently looks like:

• In 2018, there were 319,000 retail businesses contributing £92.8 billion in the UK.
• Retailers employ a consistent percentage of people throughout the UK (from 8.1% in London to 10.5% in the South West).
• Independent retailers are predicted to grow over the next 2 years because they’re more flexible than big brands.
• Government research shows shoppers like browsing online before buying in-store.

Any kind of retail business can benefit from a Capify loan or Merchant Cash Advance. Retail loans are ideal for specialist suppliers, fashion retailers, food shops – pretty much anyone! It doesn’t matter what you sell, if you’ve been trading for 6-12 months+ you could get simple, fast finance.

Most importantly, a retail loan would suit a business with plans to grow. That includes smarter point of sale technology, proper training for your staff, and essential stock.

It’s important to give your customers something other shops don’t. If you need cash to make that happen, there’s no time like the present!

Whatever you want your shop to be – more convenient, a go-to for a specific product, or a unique browsing experience – you can make it a reality with a retail business loan.

There are all kinds of loans out there, and some suit different businesses in different circumstances. Capify offers business loans and finance options designed specifically for retail stores just like yours.

Secured business loans

To get a secured business loan, you’ll need to put down a vehicle, some high value stock, or a property to get approved. This will pay off some or all of the loan if you can’t.

Unsecured business loans

No property or vehicle needed! Just go ahead and apply.

Merchant Cash Advance

Retailers can use a very clever business finance model – the Merchant Cash Advance. Your business will get a lump sum, and then repay it through a percentage of your debit and credit card payments. Every time someone shops with you, you’ll be closer to paying off your business loan.

There can be grants available for some retailers. There’s also the option of an overdraft, credit cards, and asset finance. Interest rates can be quite different though, so always check the details before you sign up.

The Capify business loan calculator shows how much cash your business could get.

Find out how much you could raise.

Retailers are always working hard to impress every new customer, as well as making sure their overheads stay manageable. With a retail loan or Merchant Cash Advance, you can invest in whatever your business needs to become bigger and better.

Renovation and refurbishment

Develop your space so you can serve more customers, show off products, or create more storage space.

Smart shopping technology

Customers like to research products and browse online before they visit your store. Tech can help you develop a click-and-collect service, or make online ordering fast and easy. 

Top notch security

Protect your stock and premises with alarms, CCTV, smart doorbells, and other clever security features.

Business finance can give your retail business essential cash, giving you the freedom to make even more big, important changes.

Before you apply for finance, there are a few things to tick off the list.

Decide what you want to fund. You’ll borrow the right amount and keep it affordable.

Check your business credit score. Capify is a flexible finance provider. If your credit score is lower than you’d like, get in touch anyway!

Get your paperwork ready. This will help the application go through as quickly as possible.
Look for a loan company you want to work with. Choose a company you trust and can contact easily.

Most loan repayments are either fixed or will change regularly. It’s up to you to decide which will work best for your business.

A fixed monthly payment can be a good option, because you know exactly what you’re paying every month. Retailers are often seasonal businesses though, so big, regular payments might not be affordable for you all year round.

Flexible repayments change as your business earns cash. If Christmas means loads of sales, but the first few months of the year are a bit on the slow side, you’ll repay less during the quiet periods and more when you can afford it.

Missed a few payments in the past? It doesn’t mean you can’t get another loan that works for you.  

Capify’s small business loan can work for pubs with all kinds of credit backgrounds. A lot of small businesses have the occasional late payment on their credit report. It’s hard to be perfect all the time.

Whether your credit is spot on or not, Capify can usually help. To find out if you’ll be eligible, just get in touch with one of our helpful advisers.

Keen to get the new shelving and stock room installed ASAP? You’ll need cash sooner rather than later.

Capify can usually get your cash sorted within days of your application getting the go ahead. So you’ll be able to start buying new stock and making improvements in a few days.

If you want to pay off your business loan as soon as you can, a short term loan would be a good idea. Long term finance gives you longer to repay, but means you’ll have debt to deal with for a longer period too.

Before you choose, it’s important to think about your business’ seasonal changes. Short term repayments will be taken care of during your busier time of year, so slower periods could be debt-free!

Find out how much cash your shop can raise with Capify.