Find Fast Funding with Convenience Store Financing

Convenience Store Loans are Your One-Stop Shop for Financing

Convenience stores work to eliminate barriers between customers and the products and services they need. Convenience store loans from online lenders, like QuickBridge, aim for the same goal. By using alternative data sources, online lenders process and approve applications for convenience store loans quickly. This results in a rapid lending process that makes accessing small business loans easy. The extra cash flow can be used to expand your business and sustain seasonal activity.

The industry continues to rapidly grow and the need for convenience store loans is on the rise. From taking advantage of inventory financing opportunities to investing in new technology, we can help you grow your business.

Convenience Store Industry Trends

Consumers are embracing a more convenient, accessible convenience store experience. The National Association of Convenience Stores found that 80 percent of all fuel purchased in the U.S. is sold at convenience stores. Furthermore, 48 percent of gas customers will enter the store to make a quick purchase. This creates a huge opportunity for sales. Keeping up with market trends and consumer expectations require convenience stores to offer innovative services. An NACS survey on convenience store shoppers found that of those polled:

• 92 percent of respondents are interested in automated check-out solutions.
• 67 percent want to try out same-day grocery shipping from convenience stores.
• 67 percent want to be able to order items online and pick them up in the store.

Technological innovation is going to be critical for convenience store operators. Consumers with access to digital technology are shopping in new ways. Mobile devices and e-commerce experiences are reshaping customer services. Convenience store owners need to adapt and utilize modern apps and technology to better serve customers.

In addition to point-of-sale technology and online tools, modern analytics solutions can provide robust data on past sales trends, helping you optimize inventory levels at any given time. From there, you can reduce waste and get more net value from assets.

All these issues are occurring at a time when the industry is rapidly growing. Approximately 79 percent of convenience retailers polled by the NACS said they experienced year-over-year in-store sales growth during the first half of 2018. Just 7 percent said there’s been a sales decline. Much of this growth can be attributed to interest in fresh and healthy food items. This is a key trend as stocking fresh items is easier to do in a cost-effective way when retailers understand exactly how much stock to maintain to reduce waste.

Using Online Lenders for Convenience Store Loans

Obtaining the funds needed to invest in a convenience store can be challenging. Many stores operate as part of franchises. As such, you’ll need to align your day-to-day growth strategies with the overarching brand goals and requirements of the group you’re franchised under You’ll also need to understand the nuances of the ownership contract for your franchise location. That way you know how the assets at your location can be used to back a loan.

If you aren’t part of a franchise and want a convenience store loan to start your own brand of stores or simply keep them running, then you have a bit more freedom. However, the small scale of your stores may make it difficult to get approved for a typical business loan.

Online lenders specializing in small-scale, short-term loans are a more natural fit. Their simplified lending models and flexible financing options can help you obtain convenience store loans quickly so you can keep up with business demands.

Types of Financing Solutions for Convenience Stores

Convenience stores are hard to run, maintain, and provide quality service while keeping their shelves fully stocked. Convenience store owners need to make sure they have the supplies their customers are looking for, and they need to have plenty of capital invested in their business. Consider these financing options for convenience store loans.

Retail Inventory Financing

If you maintain a large inventory, having cash on hand is a necessity. These convenience store loans provide capital that can be used to take advantage of opportunities to purchase goods in bulk and stabilize cash flow. Imagine it’s June and you’re reflecting on last year’s seasonal sales figures to get ready for the upcoming months. You notice a non-perishable product that sells extremely well during the holidays. Luckily, your supplier is having a major sale on that good. However, you only have enough cash available to replenish your current inventory. Retail inventory financing would allow you to get the funds to buy in bulk now in anticipation of future sales.

Working Capital Loans

Small business owners rely on working capital to meet everyday expenses and keep their business operations running smoothly. The financing from a working capital loan can help you hire staff, purchase equipment, invest in technology, or otherwise put a financial jolt into your business. They come with few limitations and function as convenience store loans that provide flexibility as you think about how best to grow.

Cash Flow Loans

Profit margins can get tight for convenience stores, as you must move large amounts of inventory in and out quickly. Throw in seasonal sales issues, and you’re left with plenty of challenges in maintaining a steady cash flow. Cash flow convenience store loans are designed to provide businesses with immediate access to capital, so they can sustain operations during downtime. For example, maybe an unexpected lull in summer travel has left you low on cash but needing money for payroll. Supplementary capital from a cash flow loan can help you stay afloat until seasonal trends correct themselves.

QuickBridge Small Business Loans for Convenience Stores

Whether you need some cash to get through a down sales season or are looking to invest in modern technologies or services, QuickBridge can help. We understand the unique needs of those in the convenience store industry. We offer 24-hour funding and convenience store loans that are right-size for your business.

As a convenience store owner, you have many different responsibilities; deciphering confusing terms and conditions shouldn’t be one of them. Contact us today to learn more.