Retail Business Loans

1. Business Line of Credit

Best for: Small businesses with diverse financing needs that come at unpredictable times. If you run a seasonal business or make massive inventory investments, you’ll want this loan in your back pocket.

A business line of credit offers your retail business a financial safety net with maximum flexibility. Use it to finance just about any business need. Seriously, anything.

Your line of credit is revolving, meaning you use it, repay it, and get access to the funds again—no need to reapply or wait around on financing. Plus, you only pay interest on the funds you use, not the entirety of your credit line.

There’s no obligation to use your business line of credit. Tap into it once a week or once a year (or keep it untouched for a rainy day). The flexibility leaves it up to you.

2. Short Term Loan

Best for: Small retail businesses that need quick cash to fix a leaky pipe, survive a slump, or seize an opportunity.

Time is money. Lenders get it, and that’s why they offer short term loans.

A short term loan can land money in your account in as little as 24 hours. The application process is short and sweet, and you’ll likely get a 1- to 3-year repayment term. Everything about short term loans screams quick and easy.

However, speed has a price, and its name is higher interest rates. Quick money is expensive money, so you’ll trade cash for time—but the exchange is often worth it.

However, if time is not of the essence, you’re better off going with a term loan.

3. Business Term Loan

Best for: Small businesses running the slow-and-steady retail race.

The OG of small business loans. Whether you’re planning an expansion, opening a second location, or working to build credit for your retail business, the business term loan is a classic.

With lower rates and longer terms, the business term loan is the perfect match for slow-and-steady retail business owners.

Business term loans are all about predictability. You receive a lump sum up front that you’ll pay back in regular increments of a determined borrowing period. You know the amount, terms, rates, payment dates, and all—so running the calculator to see if the loan fits your monthly budget is smooth, easy, and relatively risk-free.

4. Equipment Loan

Best for: Small businesses with big equipment needs.

Actually, equipment loans aren’t just for big equipment needs—they can finance things as massive as a forklift or as teeny-tiny as a new POS system.

Tools and widgets, gizmos and gadgets—if it’s used to run your business operations, there’s a good chance you can finance it with an equipment loan.

Qualifying is easy. There’s no down payment or collateral required. Your financed equipment is the collateral.

Loan amounts can be as high as $5 million or as low as $5 thousand. And with 1- to 5-year terms, low interest rates, and funding in as little as 24 hours, there’s nothing your retail business can’t affordably invest in.

5. SBA 7(a) Loan

Best for: Any and every small business. Yes, it’s that good.

The SBA offers various loans, but none is as versatile (and coveted) as the SBA 7(a) loan. This 8th wonder of the world boasts low interest rates, long repayment terms, and loans up to $5 million.

However, there’s a catch. You knew it was coming.

Since these loans are so fantastic, they’re naturally desirable to every small business, making them incredibly competitive. Plus, the application process is notoriously paperwork-heavy and painfully slow.

But if time is not an issue and you want the best-of-the-best financing, an SBA loan may be your best option.

6. Business Credit Card

Best for: Every small retail business.

Most businesses should have a business credit card. It extends your working capital, builds your credit, earns you rewards, and empowers you to buy now, pay later.

Swipe your card to cover inventory purchases, payroll, and (yes) the team lunch outing.

For retail businesses that don’t qualify for other forms of financing (yet), a business credit card can offer a flexible, accessible way to secure the funding you need.