Retail Loan are generally unsecured working capital loans used for marketing and inventory.
As a retailer, your working capital can fluctuate based on seasonal demand, variations in inventory or hiring extra staff. You want to be poised to turn around a big order or take advantage of bulk pricing – but these opportunities require immediate cash on hand.
How can I get funding for my retail businesses?
If you don’t have the luxury of 30 or 60-day payment terms, you’re probably looking for a way to bridge the gaps in your cash flow. Traditional lenders typically require extensive credit and financial documentation, and their approval processes are lengthy. Even if you are approved, it can take days to get the working capital you need – and your opportunity could be gone by then.
That’s where Aspire comes in. Our application process is fully automated and online, so we can quickly provide small business loans of up to $50,000. We use simple, meaningful revenue data from your business to approve your business – not elaborate documentation that takes you extensive time to gather.
How can I use a loan for retail businesses?
A loan for retail businesses can cover day-to-day and seasonal small business expenses, including:
Investing in new technology to increase efficiencies
Creating new marketing materials to address changing trends
Hiring new employees to boost customer experience
Purchasing additional inventory for a busy season