Liquor stores are a unique business in that they can prosper in just about any type of environment and are also recession proof. At times though business owners run into cash flow problems and require liquor store financing to help them either solve an immediate problem or help them grow. Small Business Funding is the resource they can turn to for their capital needs.
Liquor Store Financing From Small Business Funding
Small Business Funding can secure the money your liquor store requires through various lending facilities. Liquor store financing can come in the form of:
- Merchant Cash Advance – This is not a loan rather an advance against future earnings. Normally, and depending on overall risk, an alternative lender will withhold between 7% and 35% of your daily credit card sales as repayment for the advance. There is therefore no term on the loan as your payments will fluctuate based on how much credit card revenue you take in daily.
- Unsecured Cash Advance – This is not considered a loan either as it works just like a merchant cash advance except the daily payments are based on previous day’s deposits. This can be intrusive as the alternative lender will require bank account access to view previous day’s deposits.
- Unsecured Business Loan – This is a true loan with a fixed daily payment and a fixed number of payments. Within the alternative lending sector there are proprietary underwriting methods used so that your FICO is not a determining factor in loan acceptance. They will look more at overall time in business and business performance foremost.
- Factoring – this type of liquor store financing may be out of the question unless you are wholesaling. This lending product advances you money based on invoiced sales with repayment terms of 30-60 days. The alternative lender actually receives the payments due to you, takes back their money plus a small fee, and then forwards you the balance.
- Asset Based Lending – Collateralized loan. Collateral can be in the form of equipment, a building or real estate, or even inventory. Rates for these are usually the least and terms the longest.
Alternative Liquor Store Financing
All these types of liquor store financing are alternative loans. They are primarily used to solve an immediate business problem, like making payroll, or used for renovations, buying equipment, or expansion. Small Business Funding acts as a conduit to all these forms of alternative lending. We provide a one page application and the leg work allowing you, the business owner, to concentrate on growing your business.
To see how much liquor store financing you can be approved for apply for a business loan online now or call direct 1-800-742-2995