Clothing and Fashion Stores
Best Types of Business Loans for Clothing Stores & Boutiques
Canada Small Business Financing Program Loans
The Canada Small Business Financing Program (CSBFP) loans offer the best rates.
The loans are provided by reputable lenders who have been vetted and selected to work alongside the CSBFP. The CSBFP shares the risk of the loan with a lender so that a borrower such as a clothing and fashion store can access a loan at lower rates.
Revolving Line of Credit
The business line of credit can be used for different purposes in a clothing store to meet long term repetitive expenses. The revolving line of credit is convenient for clothing stores since it provides freedom and access to funds as per financial needs. With proper use of a revolving line of credit, a clothing store can cover purchases and other large expenses.
Term Loans
A simple term loan is the ideal option for a clothing or fashion store and can be used to make purchases of anything the business requires.
Merchant Cash Advance
Merchant cash advances are your best option for financing business expenses for a clothing store that makes major sales with credit cards. The MCA is provided in exchange for a percentage of future credit card sales to cover the factored sum.