The American liquor store market is worth over $62 billion and has been growing at 2.2% year on year (YoY). There are over 34,000 liquor business establishments across the country, employing over 187,000 people. It is clear that this is a huge industry with a lot of scope for growth. As in all other types of businesses, the wine & liquor shop establishments also have liquor store business funding needs but find it impossible to get the much-needed credit from traditional lenders.
That is not really a problem anymore because you can apply for business funding to alternative lenders who are dedicated to fund small businesses. Maintaining strong inventory is quite a challenge because of the complex supply chain and the taxation structure. Of course in business, there are ways to work around many of the problems that challenge smooth operations. However, you cannot just depend on good demand and not try to grow faster. Don’t worry about funding just because your business is small.
Are you facing challenges with operational expenses?
There is no business that doesn’t face problems with operational expenses or working capital. You could face sudden cash flow disruption due to reasons beyond your control or due to some issue in your own setup. Whatever it is, make every effort to control it before it goes out of hand.
When you apply for funding to an alternative lender, rest assured that they will assess you fairly and not on the basis of their perceptions. They will apply parameters to assess your business as it stands today and in most cases the loans or cash advances are approved within a day or two.
You now have easy access to funding for growth
If your liquor store is registering fast growth YoY, it would be a mistake not to treat that as an opportunity for expanding capacity. Of course, do your research and find out why your liquor store is registering faster growth. Is it because of your efforts more than anything else or some other reason that is spurring such growth? If your findings show there is high demand in your area, go for business capital loans from an alternative lender.
When you access small business funding for expanding capacity to grow your business horizontally, you need to be sure about the demand in your area of operation. Merely borrowing money to expand capacity on the basis of good sales is not enough. Find out about the market size, competition and scope of higher demand. You could even make adjustments to your growth plans and go for a smaller loan.
Get unsecured loans from alternative lenders
The main advantage of borrowing much-needed cash from alternative lenders is that such loans are unsecured as long as it is not a very large amount. Alternative Funding Group is a reputable name in providing unsecured loans and cash advances to small businesses across the country.
This company has disbursed over $200 million to businesses of all sizes but mainly small enterprises, over the last 5 years. Your liquor store can make use of such easy funding from this reliable and reputable alternative lender. They don’t even bother to check your credit history but you must comply with their minimum eligibility requirements.