Business Loans for Clothing & Fashion Shops

If you are searching for business loan for your clothing shop or store in the UK, then you have come to the right place. We offer financial lending a little differently, we help clothing shops reach their goals with our alternative funding options.

Meaning our funding is simple fast and effective without the need to jump through hoops with your High Street bank ever again! The alternative funding options we offer have helped so many business owners like you to grow their businesses.

A Business Cash Advance for clothes shops, or fashion stores is a fast and flexible way to raise finance for your business. As a store or shop owner you may have already tried your local high street bank for a traditional business loan.

The process you may have found out is lengthy and the outcome may not have been the what you have expected. So what is the answer?

What is a Clothing and Fashion Store Business Loan?

When it comes to clothing & fashion stores, there is a necessity to be flexible. We know that the requirements of children’s clothing store will be different to an outdoor leisure shop. This is why our business loans for your shop will need to tailor the cash-flow of your business, with its up’s and downs of the seasonal cycle.

Clothing and fashions store owners suffer for being approved for businesses loans for retailers due to in part having to purchase stock six months in advance. The process for applying for finance can seem a daunting one. The first port of call for fashion store business owners wanting to lend money is their local High Street bank to apply for a business loan.

Our research shows that when businesses want to grow and expand their business this is their number one choice for lending. Traditional bank loans are not easy to get as most store owners find out for themselves. The banks lending criteria and requirements for borrowing bank are at best extensive, should you find yourself with a less than perfect credit score and no security (usually your home) to offer, exceptions to get accepted to be passed for the loan will be low. Any high street bank statistics will show loan approval rates are low.

Finding the right type of finance your business should not be hard work. Having an idea of the amount you require usually starting at about £5,000 and what repayment terms you require before applying. Once you established a few questions you need answering next is to find a lender like ourselves. We are happy to talk to you about our finance support solutions for your business.

Types of finance for clothing shops and fashion stores

There are a number of different types of business finance available to clothing shops and faction stores, here are the most common:

Merchant Cash Advance

A merchant cash advance for a fashion store is designed to work with your business growth, it mirrors your cashflow, thus enabling you to receive the cash you need now to help your business flourish. The repayment schedules are designed to integrate into your clothing businesses monthly income. This will reduce the chance of your business being sacked and overloaded with debt.

Quick approval for this product is subject to your businesses turnover performance rather than your credit score.  Using your previous six months merchant card payments statements to get an idea of your average total monthly card payments.

Need to know more about a merchant cash advance:

• Online application takes just 10 minutes to get a lump sum of £5,000 – £300,000
• Cash advances are provided in exchange for a percentage of your future monthly credit card and debit card transactions.
• A merchant cash advance is an unsecured quick cash injection that comes with no APR
• Poor & adverse credit score, you can still be apply to be accepted

Unsecured Business Loan 

An unsecured business loan for a clothing store is a type of financing that does not require the borrower to put up any collateral. This can be an attractive option for small businesses that may not have the assets to qualify for a bank loan. However, unsecured loans tend to carry higher interest rates than secured loans, and they may also come with shorter repayment terms.

As a result, borrowers should carefully consider whether an unsecured loan is the right choice for their business. While it may provide much-needed financing, an unsecured loan can also put a strain on cash flow and make it difficult to repay the debt in a timely manner.

• Borrow from £5,000 to £3000,000 with flexible terms of up to 60 months, on an unsecured basis.
• Top-ups and repayment holidays come as standard and no penalty for early repayment.
• Fast application process online in less than five minutes and get a decision.
• Get your clothing store funding tailored to your needs and deal with a dedicated contact throughout.

What are the benefits of Clothes shop Business Loans?

Clothes shop commercial loans can be an attractive option for fast-growing boutique or fashion store. Here’s why:

• Accessible funding: Many fashion businesses either don’t have assets to offer lenders or simply prefer not to. Either way, you could still get the funding you need to achieve your goals without them.
• Quick and easy: With minimal processes involved, you could apply, get approved and receive your funding in super quick time. Ease and speed of application are the two main reasons for we pride ourselves on with a positive borrowing experience.
• Flexible use: Want to fund a growth opportunity? Need help through a quiet period or payment gap? You can use a business loan in almost any way you choose, as long as it helps your clothes shop business.

Is My Clothing Store Eligible

If you meet the following criteria you will be eligible for a merchant cash advance:

• Your business is registered in the UK.
• The business can demonstrate a trading history of 6 months or more.
• A minimum turnover of £5,000 in credit and debit card transactions per month.

What Documentation is Required:

Documentation that supports your application will be required after you have completed the online application. The following supportive statements are needed:

• Merchant Account translations statement (6 months)
• Business bank statements (3 months)

How to Apply for Clothes Store Funding

Applying for a business loan or cash advance for your clothing store or fashion shop takes just a matter of minutes. Our dedicated account managers are on hand to help with anything you’re confused about. If you need a hand navigating the application process, get in touch on 01246 233108.

Step 1:

Click to apply for funding. You will be redirected to a page where we will ask for more information about your business, including:

• The name of your clothing store or fashion shop
• Number of years trading
• Business company number
• Your shop or stores average monthly card terminal turnover
• Amount you are wanting to borrow for the business

Step 2:

The next step involves us asking a few personal questions:

• Your title, first name and surname
• Full address if registered in England and Wales
• Your contact details, telephone and email address

Step 3:

Carefully read our terms and conditions, accept them and click ‘get my business finance quote’. Your application will be reviewed quickly by one of our finance specialists.

Step 4:

Please expect a call and email from one of our dedicated account managers, this is to discuss your needs and any questions you may have in regards to your loan or cash advance agreement.

Step 5:

Carefully read through the terms of agreement and sign the relevant documentation ready to return to your account manager. Once the application form has been received funding can be in your account within 48 hours

If your are a fashion or clothes store business owner looking for cash to buy new season stock, you can borrow up to £200,000 today. Simply pay back as you earn. Get a cash advance quote today.