How to Get Small Business Loans for Grocery Stores in 2019? - PowerPoint PPT Presentation

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How to Get Small Business Loans for Grocery Stores in 2019?

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Title: How to Get Small Business Loans for Grocery Stores in 2019?


1
HOW TO GET SMALL BUSINESS LOANS FOR GROCERY
STORES IN 2019?
GROCERY STORE FINANCING
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2
The best social scene in town doesnt happen in a
bar but in a supermarket
It has become a place for people to socializeand
even fall in love!
If youre considering of opening one of your own,
youre probably looking for some financing
options as well.
These grocery stores are in high demand since
people are always going to purchase the needed
household items and they are becoming a new
identity as a social hub in communities
Grocery stores are now the traditional gathering
spots with a high tendency toward repeat
customers with new offerings and exotic
ingredients. 
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Grocery Store Financing
In this guide, well help you with the best
financing options available and what type of
small business loans will work for your grocery
store.
Knowing your personal and business credit score
will also get you lower interest rates on your
business loan along with the understanding of
which lenders are most likely to approve your
loan.
Once you understand the basis including your
businesss finances, credit history, and how you
will use the money, the process of getting small
business loans for grocery stores will become
easier and quicker.
A successful record of business accomplishments
signals lenders that youve been able to maneuver
the challenges and decisions that come with
managing a grocery store.
Having a sustainable business plan will also help
you remain aligned with your strategy, which will
help you follow the growth youve planned.
Monitoring your cash flow, revenues, and expenses
means ensuring the most vital statistics are in
order that can effect lenders approval on your
business loan application.
You should know why you need money and how you
plan to use it. Your lender will ask this one
question during the loan approval process.
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Small Business Loans for Grocery Store
Understanding the above metrics will take you
closer to getting your loan request approved.
The next step is to review every kind of grocery
store business loan options that best suited for
you.
Small Business Administration (SBA) Loans
Lines of Credit
Term Loans
Equipment Financing
Merchant Cash Advances
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Small Business Administration (SBA) Loans
Small Business Administration (SBA) Loans are
among the best funding option at attractive rates
for well-qualified business owners. SBA doesnt
provide the loans itself. Instead, it guarantees
the loan payment made by the network lender to
approve and disburse the payments. Since the cash
is guaranteed, lenders offer affordable interest
rates, larger amounts, and flexible repayment
terms to small businesses. There are different
kinds of SBA loans and each have its own terms
and criteria to oblige small business objectives.
The loan program includes basic 7(a) SBA loans /
SBA advantage loan, CDC / SBA 504 loans, SBA
Caplines program, SBA export loans, SBA microloan
program, and SBA disaster loans.
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Business Lines of Credit
A business line of credit is similar to a
business credit card in many respects. In a line
of credit, you get a set amount of money, and can
use that cash partly or in full as you like until
the end of the loan term. The rate of interest
and spending limit are the only differences
between a credit line and a credit card. A line
of credit carry lower interest rate with high
spending limit while a credit card typically
comes with high interest rates and low spending
limits.
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Term Loans
Many banks and alternative lenders provide and
term loans for grocery stores and supermarkets at
affordable rates with longer repayment terms to
ensure flexible repayment plan of all the
business debt-funding options. Term loans can be
easily availed if you have a good credit history
because lenders are reluctant to take the risk
involved. The interest rates for a term loan
ranges from 5-10 with terms up to 25 years.
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Equipment Financing
Products in high demand and expensive equipments
are the main financial obstacle for most grocery
stores. Financing these products and equipments
can help! If youre unwilling to lease case
stackers, merchandise racks, walk-in freezers, or
any other grocery store equipment, then equipment
financing can be the best solution for you. With
equipment financing, you dont have to provide
any collateral. Since the equipment is purchased
by the bank, you dont have to put up any money
up front helping you improved cash flow and
liquidity. The bank can sold the equipment in the
event of non-payment.
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Merchant Cash Advance
Cash advances also provide grocery stores fast
access to funding without much paperwork
required. In a cash advance, lenders provide an
advanced lump sum of cash in return of future
grocery store bank or credit card deposits. The
cash advance lender draws a fixed percentage from
the Debit/Credit deposits daily until the agreed
total amount is paid-off. The factor rate for a
cash advance ranges from 1.15 to 1.55 with
repayment terms from 4 to 24 months.
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Required Documents
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Uses of Loans for Grocery Stores
Grocery stores can use small business loans for
many different purposes, including
Advertising
Pay suppliers vendors
Payroll
Hire Workforce
Expansion
Working Capital
Pay Taxes
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The Bottom Line
Starting a business is both challenging and
enticing at the same time. Starting a grocery
store isnt the leisurely walk, but a crucial
staples within any comfortable neighborhood. I
believe youve surely got some grocery store
financing options if youre interested in opening
a grocery store.
At Merchant Advisor, we offer small business
loans to grocery stores in order to help them
keep their shelves stocked. Unlike banks, we
dont require collateral or into account your bad
credit history. We provides business capital,
credit resources, affordable prices, renewal
benefits, and early repayments and most
importantly, a peace of mind!
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13
THANK YOU
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