Retail business loan

Business loans for retail | Retailer Finance

Retail Industry

Business Loan online shopA business cash advance is a fast and flexible way to raise money for your retail store or online shop. You may have already contacted your local high street bank and found the process to be lengthy and outdated, failing to guarantee you the outcome you desire.

This is where our alternative method of a funding will work perfectly for you. Our business loan alternative is a perfect fit for any retailers or online store

Business Loans for Retailers

PDQ Funding offer unsecured business loans to retailers, this will allow a lump sum of money for development of your bricks & mortar shop or online store. Some lenders that offer loans to retailers often require a personal guarantee. This legal status of a personal guarantee is there so if your business was to default on loan repayments, you as the business owner becoming personally liable for paying back the money. The most traditional form of lending within this type of sector is a bank overdraft, although for larger amounts with longer repayment periods, most traders will opt for secured loans. These types of loans are commonly available from banks and other traditional lenders and will usually require a strong financial history.

The small business loan will generally provide low fixed interest rates, with repayments set at equal amounts which are repaid each month for a set period of time. Criteria between lenders varies significantly but in general but lenders will be looking to loan to businesses with a strong financial record and an excellent credit rating. PDQ Funding interest rates are comparable with an overdraft and the repayment terms will be dependent on your business structure.

Business Cash Advance for Retail Shops

This funding option is suited to businesses of all sizes, so whether you own a small or large business, you won’t be let down by our working capital product. Our Business cash advance is an alternative unsecured business loan, which means it’s a flexible funding option for you, and has no requirement to secure any personal or business assets against the loan.

Our cash advance calculates how much your business can borrow by factoring in your monthly credit and debit card transactions. The percentage of each future card sale that is repaid to your lender is agreed prior to the conduction of the loan. This means you’ll know exactly how much you’re going to have to pay back with each sale, plus you’ll know that you only start the repayments once you’re making sales.

The simplest way of looking at it is that if your retail business has a slow sales week, you’ll repay less. Therefore, you won’t be under the constant pressure of attempting to reach a certain amount of profit each week. There are no hidden costs or fees, so you won’t be on the receiving end of a nasty shock once you take out a cash advance with PDQ Funding.

    • Get £5k to £200k within 24 hours
    • Pay back through your future card sales
    • Unsecured – there’s no worries
    • Same day funding to your business
Is My Business Eligible For A Merchant Cash Advance?

Your business is eligible for a merchant advance if you meet the following criteria:

    • Your business is registered in the UK.
    • You have been trading for 6 months or more.
    • The business has credit and debit card transactions of £5,000 per month or more.

You need funds to develop your retail business

There’s no questioning that a short term boost of funds would help to grow your business in the long term. You can get this money with an unsecured business loan, as this option injects short term capital that can be the key to unlocking long-term growth. There are many reasons a business would need this, it may be because you need to stabilise your company after a rough period, such as a dry sales month, or just that you can see ways to advance your company that are just a little out of budget.

The short-term unsecured business loan is far easier to make repayments on than other shorter-term options, this is because there will obviously be less payments to actually make, and the loan itself will normally be for a much smaller amount. Choosing an unsecured loan from PDQ Funding is a great opportunity for retail and online shops to upgrade their business model, or make quick fixes they need to make in order to ensure the future is bright and to maximise cash flow. It’s important to remember that making regular updates and upgrades to your venture can keep current customers enthralled and excited to shop with you, but also attract newcomers to your company, presenting you with new avenues of income and funding.

Business loans or cash advance can be used for many different purposes. You may wish to use it to invest in new stock, move your business to a new location, or help to cover your payroll costs, it’s entirely up to you. You can apply for a free no obligation quote today and find out if your business qualifies for our services.

F.A.Q’s

What is a retail business loan?

Retail business loans are a financing solution that provides funds for everything from fresh stock and new equipment, to expansion of the business and cashflow management during a seasonal lull. It’s a good alternative to using your own funds to bridge the financial gap, and it removes the pressure of trying to find the funds if they’re not there.

How do retail business loans work?

There are different types of working capital loans that meet the criteria of being a retail business loan. These include: Unsecured business loans This type of loan that doesn’t need you to secure any assets against it, such as your home. You repay the loan in instalments and the funds from this can be used for retail businesses without the added worry of having any collateral against it. Small business loans These loans work in a similar way to a personal loan, but they are designed to meet the needs of SMEs. If you were to take out a small business loan, you could borrow at a fixed rate and repay a set amount each month. If you want to take out a retail business loan, ideally you may wish to shop around, one option is to see what’s available from your bank. When you find the loan that you think works for you, you then make your application and wait to hear if you meet the criteria.

What are the alternative retail funding solutions?

As with other traditional bank-supplied finance options, being a successful applicant for small retail business loans can depend on a range of factors. These include you having a good credit rating or being an established business – which isn’t easy if you’re looking for funding if you’re just starting out. Add to this the lengthy application process and it could be a while before you’re accepted and even longer before you’re given the money you need. That is, if you’re accepted at all. PDQ Funding want to make accessing essential funds as simple as possible. That’s why we offer a flexible alternative for your retail business that is designed to help you out without tying you down. This is how we deliver on retail funding: Merchant cash advances: a different retail funding solution. We provide merchant cash advances for small retail businesses just like yours. This small business alternative funding option allows us to work closely with you to establish your business’ needs in order to help you grow.

What can I use the PDQ Funding retail finance for

We can help with retail funding for whatever you might need: Purchase of stock or seasonal inventory Point of sale displays and marketing material New E-commerce site Repairs and refurbishment to your premises Help with cash flow when business is slower Funds to pay bills, VAT and taxes on time Anything else that would help your business! Merchant cash advance's are an injection of cash into your business based on future credit and debit card sales. Re-payments to PDQ Funding are made as a percentage of the business’ credit and debit card transactions. Unlike bank loans with fixed monthly payments, pay back is directly linked to your card takings; it only happens when the business earns, so it mirrors your cash flow. Merchant cash advances are unsecured too, so your home is not at risk.

A quick glance at retail finance from PDQ Funding

Here are a few reason to choose PDQ Funding for your retail business funding solutions: You can apply in minutes for anything from £5,000 up to £200,000 There’s no waiting around. You’ll get a decision in as little as 24 hours. You only pay back the money when you earn. This is through a small percentage of your business' credit and debit card takings. There are no fixed monthly payments. You get to keep 100% of your cash income. We offer one clear cost and there’s no APR or late repayment fees. No fees, hidden charges or penalties. Successful application rates are at about 75% for those who apply for a merchant cash advance with us. Adding to this the simple application process, with minimal paperwork, and it’s easy to see why it’s an ideal option for your financing needs. Apply for your Business Retail Cash Advance to finance your future!

How PDQ Funding's retail finance works

So, how does PDQ Funding's Business Cash Advance work exactly? Alternative retail finance is a straightforward and transparent retail finance option. This is funding that we give based on future credit and debit card sales and it’s paid back through a pre-agreed percentage of your business’ card transactions. Due to the repayment being linked directly to card takings, you’re only making payments to PDQ Funding when your business earns – unlike bank loans, which require fixed monthly payments. But what if there’s a slump in profits and the cash advance takes longer than expected to pay off? No problem! If this happens, the repayment cost that was originally agreed stays the same. There are no penalties or fees added, because there’s no such thing as a late payment. Need an answer in a hurry? You can get a no-obligation quote and decision online from us in under five minutes. There are no footprints left and it will not impacting your credit score. Plus, you could receive funds in as little as 24 hours, which means you can get started on transforming your retail business right away. And once you're eligible, you'll be able to get repeat funding – 75% of customers do! If you require more funding, we have made renewal simple and so easy to get funding again online.

How to apply

If you think your business may benefit from our retail finance solutions and you are thinking of working with us, you can apply by getting a tailored quote from us online. You’ll go through a few stages, starting with telling us a bit about your business, followed by your contact details, card takings and funding needs. We’ll then just need your information as a business owner and then we’ll have everything we need to create your bespoke quote. If you have any questions about the advance for your retail business, feel free to get in touch with us.

Documents Required to Apply

The following documents will be requested by your business manager once the online application has been completed. Please have the following documentation available:

    • 6 months of merchant credit card sales statement 
    • 3 months of business bank statements

The advantages to unsecured business loans

 In theory, unsecured loans are a less risky borrowing option because there’s no danger of losing any assets if you can no longer repay any debt you find yourself owing. They can also offer more flexibility than secured loans, with lenders tending to offer repayment terms of anything from one month to three years. This amount of flexibility is a perfect fit for many retail shop owners, as the level of business you receive may be dependent on the time of year it is and other unpredictable factors may play a part in the proceedings.

An unsecured loan basically means it’s not secured against property or other collateral, many lenders will be happy to top up an unsecured loan once a company has made a certain number of successful repayments, and will also offer repayment holidays as an additional benefit. Though, this information is likely to differ from lender to lender, so be sure to do your research before jumping into an agreement you don’t fully understand yourself.

Our quick four bullet points on things you need to know about our unsecured finance:

    • Applications can take just 10 minutes to receive a lump sum of £5,000 – £200,000
    • Repayments are to be made every month at a set interest rate
    • The loan is unsecured, but you may be asked to sign a guarantee
    • If you do not hold a great credit score, you can still be accepted

We understand that the high street is ever changing and businesses can have a difficult time keeping up with the new demands of the retail sector. So a unsecured loan may just be what you need to support your business, and even help it to take the next step. The application for business funding only takes a few minutes of your time, and a decision will most likely be made on that same day. This means that the money can be released to you, in most cases, within five days of you submitting your application.

Unsecured is great for short-term solutions

If you believe that your retail store business could benefit from a short term boost of funds, then the unsecured business loan is likely the best option for your venture’s situation. The option of an injection of short term capital could be chosen for many reasons by business owners. It may be because you need to stabilise your company after a rough period, such as a dry sales month, or just that you can see ways to advance your company that are just a little out of budget.

The short-term unsecured business loan is far easier to make repayments on than other shorter-term options, this is because there will obviously be less payments to actually make, and the loan itself will normally be for a much smaller amount. Choosing an unsecured loan from PDQ Funding is a great opportunity for retail and online shops to upgrade their business model, or make quick fixes they need to make in order to ensure the future is bright and to maximise cash flow. It’s important to remember that making regular updates and upgrades to your venture can keep current customers enthralled and excited to shop with you, but also attract newcomers to your company, presenting you with new avenues of income and funding.

We’ve helped thousands of businesses just like yours get the funding they need for:

    • Training new staff
    • Purchasing new stock or equipment
    • Refurbishing premises
    • Relocation
    • Advertising
    • Helping with cash flow
    • Building a new website
    • and even more

Business loans or cash advance can be used for many different purposes. You may wish to use it to invest in new stock, move your business to a new location, or help to cover your payroll costs, it’s entirely up to you. You can apply for a free no obligation quote today and find out if your business qualifies for our services.

How to apply for a retail funding:

Step 1:

Visit our application page and provide the relevant information. This will ensure that we match you with an ideal lender. We will then ask you for further information about your business. You’ll need to be ready to tell us the following:

    • The name of your business
    • How long you’ve been in business
    • Your average monthly card sales
    • Amount you are looking to borrow and over what period

Step 2:

Will will then require a few personal details, so please be ready to tell us:

    • Your title, along with you first name and surname
    • Position you hold within the business that is seeking a loan
    • Email and telephone number, so that we can stay in further contact with you

Step 3:

Read through our terms and conditions carefully, and if you’re happy to continue, click ‘get a quote’. From here your application will be processed and reviewed by a member of our business finance suppliers team, who will help you find the correct lender for your emergency business loan.

Step 4:

We will then be in touch with you to confirm the conditions of your business loan agreement.

Step 5:

Once the application is complete, it will be sent off and approved by a lender. You can then have a discussion with them regarding the terms of the loan. These terms will include interest rates, as well as how much the borrower will repay each month. The loan is then provided to you on an agreed and transparent basis. As a lender we support the growth of business with our retail merchant services cash advance.

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