Butcher Shop Financing Options
It’s no secret that butcher shops and meat markets have had difficulty getting financing for their businesses over the years. Whether you go to a credit union or national bank, it is challenging to get any type of financing or even a simple bank loan for your meat market, for that matter.
But these are new times, and demand is high in most communities for groceries from consumers. Some new alternative lending sources have come into the market for the meat industry. The meat processing business and meat market industry, in general, have more access than ever before to butcher shop financing that can help them serve their local communities.
Getting a loan for a Butcher shop can be a tricky process, though. Traditional lenders see meat markets, butchering stores, and small meat processors as risky industries, which means qualifying for loans is difficult. A bank won’t give butcher shop loans out to just anyone. They’ll likely require butcher shop owners to have excellent credit, a robust business plan, and a significant amount of assets in the business.
AdvancePoint Capital has been experienced in loans for butcher shops for years and can help you access the business loans you need for butcher shops. We understand the meat processors industry, the difficulties of operating a business, and the need for funding to support it. Our job is to effectively provide the best funding products and technical assistance so you can make good decisions. If you’re looking to purchase equipment, inventory, working capital, expand operations for growth, or take on a new opportunity- we are your source. When the bank says no- we say yes! See how easy our process is to find business funding.
Types of Businesses We Serve Within the Meat Industry
We help a wide range of businesses in the meat industry acquire loans and financing for their business including:
- Grocery stores
- Convenience stores
- Wholesale grocery
- Meat market/butcher shop distribution centers
- Meat processing plans
- Butcher shops
- Meat markets
- Food systems
- Local markets
- Meat Farmers
- Livestock processors
- Meat Agriculture
Get Started Today
AdvancePoint Capital makes the loan application process a simple, straightforward experience.
Business Loans for Butcher Shops & Meat Markets
Long-Term Butcher Shop Business Loans
Long-term loans are available for business expansion or acquisition. Long-term loan means terms of 5 to 25 years. Long-term loans are a popular butcher shop financing option because of the reasonable cost and affordable payments.
Short-Term Butcher Shop Business Loans
Short terms loans are an option when traditional financing is not available. Easy application process as you typically only need a 1-page application and 3 months' bank statements for an offer.
Business Line of Credit for Meat Markets
Lines of credit offer flexibility with the ability to draw money on demand up to a credit limit. Lines of credit offer great rates, low origination costs, and flexible payments with this type of funding and you only pay interest on the outstanding balance,
Small Business Administration (SBA) Loans for Butcher Shops & Meat Markets
The Small Business Administration provides the underwriting requirements and guidelines for SBA loans. SBA is not the lender but offers a loan guarantee to approved SBA lenders. Without the loan guarantee, lenders would not offer SBA loans. SBA loans offer great interest rates, terms, and monthly payments. This a great option if you're expanding your business.
Merchant Cash Advance for Butcher Shops
A merchant cash advance is a funding option for businesses that can not get approved for a bank loan from a lender. A merchant cash advance is not a loan, but an advance of funds to a business that is repaid out of future sales, Payments are a set percentage of future sales deposits taken by the funder as the method to pay back the advance.
Business Credit Cards for Butcher Shops & Meat Markets
Business credit cards are a great way to access money in a pinch for purchases, pay bills, or if you need a couple of extra dollars. Credit cards offer low monthly payments compared to loans with flexible payment options.
Benefits of Getting Financing for Butcher Shops & Meat Markets
The first step in any search is clearly defining why your meat shop small business needs the funds. The “why” will direct you many times to the right loan product. Working capital is the most popular reason because there are so many ways it can be used. When cash flow gets tight due to fluctuations in sales, extra capital can provide the buffer needed to carry the business through rough times. Other reasons for the need for butcher shop financing include, but are not limited to:
Cash Flow/Working Capital Loans
The meat and butcher business is a complicated venture that has a lot of moving parts included. Various issues can impact cash flow in this industry, such as seasonality, holidays, location, changes in trends, and competition. Failing to meet payroll for employees is not an option for a small business, so it’s essential to have access to cash for working capital to control the ups and downs of the butcher and meat business, stabilizing cash flow.
Business Facility Expansion/Renovations
Butcher shops may need expansion, upgrades, and/or repairs to their processing facility to attract customers away from other competition. Construction can be expensive. With so many financing options available, growing your butcher shop’s business model can come in many forms. Butcher store owners can use financing options to purchase additional grocery inventory, lease more space, expand marketing efforts, buy new equipment, or even open up another operation.
Advertising: Attracting Customers to a Butcher Shop
What business doesn’t want more customers and growth? Internet marketing and social media are not just a trend anymore but have quickly become a must-have for butcher shop business owners looking to grow. The need for good advertising and marketing strategies has added additional costs to butcher shops.
Demand for more effective advertising is why financing for marketing campaigns and social media is so popular. Having a presence online through various outlets such as Google, Yelp, and Trip Advisor, plus maintaining a social media presence on Facebook and Instagram, is very important for success.
Point of Sale Systems, Software, and Technology Upgrades
The point of sales systems out there continuously improves and provides efficiencies to butcher and meat store operations. You can use meat and butcher shop financing to update systems and create more efficient processes within your operation.
Business owners are always looking for new ways to keep customers coming in by improving customer experience, and service and implementing easier processes or systems for staff, all making a significant impact on your meat market. You must make sure eventual investments in this area are a foregone conclusion and know that financing most likely will be needed.
Business Debt Funding
Sometimes stores need funding to refinance existing debt through long-term financing. AdvancePoint Capital offers the best business debt financing options for meat markets and butcher shops through our lender network.
Sometimes funding inventory is the only way to benefit from special deals and opportunities related to acquiring a product for your meat market or butcher shop to increase capacity. Contact AdvancePoint Capital today for more information on inventory financing options.