Business Loans for Toy Shop
Toy stores require loans periodically just like any other small and medium sized business. Small businesses require funding primarily for purposes such as working capital, expansion, inventory, advertising and so on. Banks are generally the first choice of small business owners who are looking for business loans for toy stores. However it doesn’t take small business owners to understand that banks are not too keen on funding small businesses.
There are some funding limitations that banks have, and these are related to the criteria that they maintain as industry norms. The funding norms that banks have are related to the best practices they have in place to protect their investment. According to these funding criteria, small businesses do not make good investments, corporations and large businesses do on the other hand.
For a small business owner like a toy store owner, when they need the funds it is generally within a fixed time period. A company such as Funding Easily which is a private funder, can deliver the funds to a small business owner in 48 to 72 hours, on the other hand any bank would take 2 to 6 months.
Banks require collateral, security and personal guarantees and other forms of security if need be. However, as a private funder aware of the realities of how small businesses function, we do not. We require that the applicants business be over a year old, at least 12 months, and that the minimum gross sale be over $15 thousand. In addition to this the owner of the business should not be in active bankruptcy.
If you are a toy store owner and are looking for funding, you may want to consider the options that we have available for you. To meet the criteria of banks is not easy for small business owners, such as providing business statements with at good deposits, good ending balances, tax returns that reflect good income, profit and loss statements as well as the business owners personal financials at times. In addition to this collateral, security and guarantees are things the banks more often than not do require.
More information regarding business funding for toy stores, can be obtained by contacting us via our direct number. Our funding team will provide you with information and also assist you with the application if need be.
Find Out Why many Toy Shop Owners Trust Us for their Funding needs.