(613) 518-1520 info@accessmoney.ca

Food and Grocery Markets

Grocery Store Loans FAQ

  1. Home
  2.  » 
  3. Industries
  4.  » 
  5. Food and Grocery Markets
  6.  » Grocery Store Loans FAQ

Grocery Store Loans FAQ

What time does it take to get a grocery store loan?

The approval time for the loan will be dependent on the lender you approach. For example, banks take anything between two weeks and several months whereas alternative lenders fast track the process to a few days. Some online lenders will have the money in your bank account in a single day.

Is it possible to get a grocery store loan with bad credit?

Yes, it is possible. Bad credit grocery store loans are approved with more stringent requirements and worse rates compared to other business loans.

How big a grocery store loan can you get?

There are lenders ready to give you hundreds of thousands of dollars to borrowers. The amount approved by a lender will depend on:

  • A selected lender
  • Your credit score
  • Your business financial history
How can you start a grocery store business in Canada?

It can be easier to start a grocery store here in Ottawa by partnering with a big franchise. Working with the franchise will make it easy to start and operate a grocery store by borrowing on tried and tested business plans.

Starting a grocery store on your own will demand a lot of hard work in getting necessary business licenses and creating a business plan which can be difficult for an individual.

Which are the popular grocery store in Canada?

The most popular grocery stores are Loblaw, Metro, and Sobeys.