This document provides tips and strategies for retail business owners seeking to obtain funding through a business loan. It outlines the steps to take, including checking your financial health by reviewing your credit score and debt ratio. It also compares lending options such as the Small Business Administration, alternative lenders, and conventional banks. The document provides details on what paperwork to prepare, how to submit a strong loan application, common uses for retail business loans, and types of loans including long-term, unsecured, and short-term loans. In conclusion, it shares some U.S. retail industry facts on total annual sales, growth rates, number of businesses and employees, and contributions to GDP.

1. HOW TO GET A
RETAIL
BUSINESS LOAN
Tips and strategies for
retail business owners who
need to obtain funding.
KNOW YOUR
FINANCIAL HEALTH
Check your credit score
Review your debt ratio
Estimate your cash flow
Evaluate your borrowing risk
1
Tip: Your debt payments should not
be more than one-third of your
store's gross monthly income.
COMPARE
LENDING OPTIONS
Small Business Administration
Alternative lenders
Conventional banks
Credit unions
2
Note: The Small Business Administration
doesn't provide loans; it helps retail
businesses get loans from its lending
partners and micro-lending institutions.
PREPARE YOUR
PAPERWORK
Financial statements
Income tax returns
Bank statements
Business license
Business plan
Proof of ownership
Form of valid ID
3
Tip: Alternative lenders typically have
fewer requirements, which makes it
easier and faster to apply for a retail
business loan.
SUBMIT YOUR
LOAN APPLICATION
Follow application instructions
Apply for the right type of loan
Include necessary documents
Avoid mistakes
Read loan terms before signing
4
Tip: Make sure the information you
submit is complete and free from
mistakes. A small oversight can result
in your loan being rejected.
COMMON USES OF
RETAIL BUSINESS LOANS
Inventory Marketing Signage Working Capital
Insurance Technology
Expansion
Payroll Refinance Debt
Website Business TaxesRent/Utilities
TYPES OF RETAIL
BUSINESS LOANS
LONG-TERM LOAN
This type of loan is generally used to
fund a long-term project, or an expensive
strategic growth initiative. The term
length is years rather than months.
UNSECURED LOAN
This option has easier qualification
requirements. Because no collateral is
needed to qualify, the rates are generally
higher than other types of loans.
SHORT-TERM LOAN
This type of loan is a good option when
funds are needed to address short-
term cash flow issues. As its name
states, the payoff time is short. Term
lengths of up to 18 months are common.
LASTLY, HERE ARE SOME
U.S. RETAIL INDUSTRY FACTS
TRILLION$5.5Total annual retail sales.
2.2%
Annual retail industry growth.
MILLION3.8
Number of retail businesses.
MILLION42Number of
employees supported
directly and indirectly by
the retail industry.
1.9% Estimated retail job growth
over the next decade.
TRILLION$2.6Amount the retail industry
contributes to the GDP each year.
45,000+
Number of shopping
centers in the U.S.
1,100+
Number of enclosed
shopping malls in the U.S.
26There is
square feet of retail space
for every person in the U.S.
This infographic was created by Balboa Capital, a
technology-driven financing company that provides
business owners with fast, hassle-free solutions to fuel
their growth and success.
Sources: National Retail Federation, US Bureau of Labor
Statistics, Plunkett Research, IBIS World, Data USA, Credit
Suisse, Time Magazine, INC.com
www.balboacapital.com