Retail businesses in the UK have faced numerous challenges of late, not least the continued growth of e-commerce, which has led to a huge shift in people’s shopping habits.
However, despite the shop closures that have resulted from this mass migration online, the retail sector is flourishing. Recent stats showed that sales volumes were up 7.4% on the previous year, representing the retail industry’s strongest growth since early 2002, and beating the predictions of several economic forecasters. In short, British retail is in rude health.
Business loans for retail businesses
Given the pace of change in the retail industry, retailers can’t afford to wait around when it comes to business funding. Whether it’s purchasing more stock, opening new premises or launching a seasonal marketing campaign, retail businesses need to know that they have access to finance when they need it.
That’s why traditional lenders such as banks might not be as attractive as they once were. Not only can it take weeks to secure a meeting, but there’s every chance you’ll be turned down for finance as a result of many banks’ strict lending criteria.
Alternative finance providers offer a quicker route to the funding that your retail business needs to grow. Unlike banks, alternative lenders like Fleximize can deposit money in as little as 48 hours, and don’t necessarily need you to have a perfect credit history to be considered for finance.
Retail business loans from Fleximize
Fleximize’s business loans are the perfect fit for retail businesses, offering both the speed and flexibility that retailers require. Here are the key features of Fleximize’s funding options:
- Flexible business loans of between £1,000 and £200,000
- Repayable over a term of one month to two years
- Quick and simple online application
- Funds deposited in as little as 48 hours
- Repayment holidays, and top-ups after three successful repayments
- No upfront fees or early repayment charges
When applying for finance with Fleximize, clients are assigned a dedicated relationship manager, who works closely with them to create a funding package that’s tailored to the unique needs of their business.
Fleximize looks for a way to say yes to every application, and will consider far more than a company’s credit history as part of its decision-making process. If you can show us how you’ve turned around an inconsistent record of debt repayment, and that your retail business has the potential to generate sustained revenue and growth, you could be eligible for funding.
Apply for a retail business loan with Fleximize
Fleximize has lent millions of pounds to retail businesses, with the funding being used for several purposes, including buying new stock and securing high-street premises.
The video below features one of our retail clients, Polly Thompson, who borrowed £10,000 from Fleximize to help turn her online bridesmaid-dress shop NABBD into a thriving bricks-and-mortar business. Thompson has since topped up her loan twice to extend the company's range of dresses.
We helped Polly Thompson secure a premises for her bridesmaid-dress business
To discuss funding options for your retail business, please don’t hesitate to give us a call on 0207 1000 110. Alternatively, you can get a free quote online or, if you’re ready to apply, just click on the button below. We look forward to hearing from you.