Retail Finance Uncovered
The Latest Retail Industry Trends
Capify’s retail business finance has easy, affordable repayments. Regular payments will come out when your customers pay using your card machine, helping you to manage cash flow and pay off debt at the same time. 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.
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Loans For Retail: Everything You Need To Know
Who Are Restaurant Loans For? You!
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.
What Can I Do With a Retail Loan?
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.
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.
Renovation and Refurbishment
Develop your space so you can serve more customers, show off products, or create more storage space.
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.
Read Our Ultimate Guide To Business FinanceLearn More
Types of Restaurant Business Loans
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.
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.
Fixed and Flexible Payment Options
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.CHECK ELIGIBILITY
Retail in a Hurry? Get Fast Finance
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.CHECK ELIGIBILITY
Our Business Loan Can Be Repaid In 3 Ways
The Daily Repayment
With this option, we’ll take a very small repayment every single day until the finance is paid back. It’ll help you to manage your cash flow.
The 5 Day Repayment
This option is repaid between Monday – Friday. It’s the perfect solution for businesses that are closed during the weekends.
Once a Week
With this option, you’ll repay your
loan just once a week.
Frequently Asked Retail Loan Questions:
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!
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.
Find Out How Much You Could Raise
The Capify business loan calculator shows how much cash your business could get.