Get the Best Business Furniture Financing
The furniture industry is competitive more than ever & your business must find effective ways to stay on-trend. Be it for equipment financing or straight-up loans for furniture, you need funding to stay on the market. Whether you’re an established furniture store owner looking to expand to new locations or a new business owner just starting in the industry, AdvancePoint Capital can assist. Our small business lenders are here to help you prepare and apply for furniture store business loans.
Our online marketplace is overflowing with outstanding business financing options for a furniture store in any phase of business. Contact us to get your free, no-obligation quote and find the best loan for your furniture store from a trusted alternative lending source. We’ll match your furniture store with the suitable funding product, so you can continue growing your business and serving many customers with high-quality furniture nationwide.
5 Best Small Business Loans for Furniture Stores (September 2023)
Long-Term Business Loans for Furniture
Long term loans is the product for large expansion plans when you need to secure long term financing with affordable monthly payments for your retail furniture store.
Small Business Administration (SBA) Loan Programs for Furniture Stores
SBA loans are backed by Small Business Administration. An SBA loan is a low cost option with great rates and terms. The furniture business will be required to provide collateral and an excellent credit history to qualify and secure a loan. Helps pay business expenses and make purchases on the fly.
Business Lines of Credit for Furniture Stores
Line of credit is a revolving credit facility that lets you draw funds as needed up to a credit limit like a credit card. Great option to support cash flow.
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AdvancePoint Capital makes the loan application process a simple, straightforward experience.
How to Use Your
Furniture Business Loans?
Quickly Access Capital
Operating a furniture business can be an exciting venture, but there is also a lot of uncertainty. Seasonality, location changes, trends, holidays, and increased competition can all impact cash flow to your company. Various business financing can help your furniture store quickly stabilize its cash flow with money. With access to more working capital, your furniture company will be back on its feet in no time.
Invest in Inventory
It doesn’t look too great to potential customers when your sales floor is lacking furniture. Furniture store business loans are a fantastic way to purchase inventory to fill up your showroom with plenty of unique options. Loans unable you to spend money and purchase readily available best-selling items or trendy, seasonal pieces like patio furniture and holiday decor. Now, you’ll never have to worry about low store inventory again.
Spruce Up Your Showroom
Once you have all of your inventory on hand, think about the aesthetics of your showroom. Utilize business funding for interior decorations and additional items for your company. Merchandise the furniture on your sales floor with pillows, throw blankets, bedding, wall decor, and life-like layouts of dinner and cookware.
Buy the Best Equipment
Running a furniture store requires some heavy lifting. Equipment like forklifts, dollies, and vehicles are needed to move and deliver large items like sectionals and beds. Plus, power tools can help your team assemble any unfinished furniture. You’ll also need computers and other office machinery to maintain orders and invoices. Use your business loan to invest in equipment and keep things running smoothly.
Expand Your Operations
Furniture store business loans can also help you grow an entire furniture empire. Use the working capital from different business loan options to renovate your existing space or expand into a new location with commercial real estate loans. With all of the practical financing products available in the marketplace, you can start considering opening multiple furniture store locations.
Ramp Up Marketing Efforts
These days, everywhere you turn, it seems like a new sale or seasonal promotion is happening at local furniture stores. For your furniture business to stand out from the competition, you must implement a robust marketing strategy. Utilize business funding to boost marketing efforts for your furniture store, including in-store signage, tv and radio commercials, print ads, digital marketing, and more.
Qualifying for a
Furniture Store Business Loan
Banks, credit unions, and alternative lenders alike are going to need a little bit of information about you and your business before approving your loan application. Furniture store owners need to prepare to answer questions from a lender or bank and provide personal and business information about there furniture business, including:
- Time in business
- Debt obligations and other expenses
- Personal and business credit score
- Bank statements
- Borrowing history
- Funding use
- Tax returns
- Income statements
- Profit and loss
- Cash flow forecast
This all might seem like a lot to keep straight, but there’s no need to stress. AdvancePoint Capital is by your side every step of the way, helping you find furniture store financing. Get your free quote today.