One of the most critical components of your business is its ability to maintain inventory. Customers will want to ensure that you are able to fulfill orders after they are processed. For these reasons, it can be advantageous to always have cash on hand for inventory purchases. You’ll want working capital to ensure that you can make large inventory purchases prior to seasonal increases in demand. In order to maximize your efficiency, you should always ensure that you have the capability of filling any order. Also, you can save considerable money by purchasing bulk orders, which is another reason an inventory loan may come in handy.
Should My Business Get an Inventory Loan?
Inventory loans cater primarily to enterprises existing in the retail industry. Retail providers are normally keen to prepare for seasonal changes in demand and receive discounts for purchasing goods in bulk. Because these businesses know that demand will increase, they are also assured they will be able to pay back the loan quickly and with minimal interest. Inventory loans are normally perfect fits for large retailers who need to keep large amounts of product on hand in warehouses and other storage facilities. Many of these large companies may have months worth of inventory on hand and require additional funds to continue adding inventory.
What’s the Process?
If you are a new business with limited credit history you may find it difficult to get an inventory loan through a traditional lender. Banks and financial institutions often require extensive documentation and business history to qualify for their inventory loans. We take the pain out of this process by only looking at simple revenue data when making our lending decisions. Our entire application process is streamlined through our online portal that is able to make speedy automated decisions. We can give you access to up to a $150,000 line of credit, which will ensure that you always have enough capital on hand to purchase additional inventory. Don’t wait for busy season to approach, apply for a line of credit thorough our online lending portal today!
Learn More About Specific Loans for Your Business
Unsecured Small Business Loans