From local mom & pop stores to large discount outlets, to the massive national chains, the competition for retail customers is fierce and only made worse by online retailers who often undercut them all. Add the pressures of a fluctuating economy and routine operating costs and it seems miraculous that brick & mortar stores even survive at all.
No wonder there are miles of empty storefronts all over New York City and why proprietors are seeking relief from financial institutions nationwide. But knowing your clothing store needs some capital is only the beginning, as many questions will undoubtedly arise as you begin your quest for assistance.
- Should you get a business line of credit, a cash advance or business loan for your clothing store?
- Should you go to a traditional bank for help?
- What if you have bad credit?
- How complicated and time-consuming is this process?
Understanding all the options available to you will help to determine what option suits your specific situation best.