As a retail business owner, you should know that there are several ways you can use retail business financing to grow your business. In this article, we’ll outline your options for retail business financing. Then, we’ll list seven ways that you can use a retail business loan to grow your business.

Options for Retail Business Financing

Before you decide how you plan to use your funding, you need to know what your options for funding are:

Small Business Loan

You’ll find a variety of traditional and alternative lenders that offer small business loans to retail businesses in various amounts/repayment terms

Merchant Cash Advance:

if your retail business accepts credit card payments, you may be able to qualify for a lump sum advancement to be repaid with future credit card sales

Business Line of Credit:

the bank where you hold your accounts may offer a line of credit that you can draw on when needed and you only pay interest on what you use

SBA Loans:

offers several loan options, including the SBA 7(a), which has low-interest rates. However, you must first prove that you are unable to obtain traditional funding

Equipment Financing:

If you need equipment for your business, an equipment loan may be your best option

As you research your funding options, it’s also important to make sure that you meet the requirements set forth by the lender. In most cases, you’ll need to submit the following:

  • How long you’ve been in business
  • Able to offer collateral
  • Credit score
  • A plan to use the funds
  • Annual business revenue
  • Tax returns

Once you have applied and been approved for business funding, you’ll need to know how to use it. Below are 7 options for using your retail business loans:

  • Buying new inventory
  • Opening a new location
  • Advancing your technology
  • Hiring more staff
  • Updating the interior of your store
  • Investing in marketing your business
  • Improving your cash flow


If you are currently applying or have recently received a retail business loan, you must decide how you plan to use it. Hopefully, these seven options have given you something to think about. If you need help with a retail business loan, contact Array Financial. We can guide you in the right direction.