For most of us these days, whenever we hear the word “retail” we think of Walmart or some other giant retailer. But retail can also stand for that neighbourhood convenience store we all grew up going to, or as we here in Montreal like to refer to as “the Dep” (that’s short for dépanneur for those of you outside of Quebec). Call us nostalgic, but we at Cubeler have a bit of a soft spot for the mom and pop shops that have been around forever, you know, little guys. But if you’re reading this and you’re a franchisee of a large retail chain, don’t worry, we still love you (just look at the picture we chose for this section). We just love Ginette (of “Chez Ginette”) just a little bit more.
The retail world is fairly easy to understand from a business point of view. You either buy or make goods, place them on a shelf (or on the web) and sell them for less than it cost to buy or make them. The fact that the retail world is so easy to understand and get into means that it’s extremely competitive. Talking to some of you that have succeeded in the industry, we learned that in addition to all of the skills needed to be successful in business, including the creativity to differentiate yourselves from the competition, you had to be particularly good at managing your cash flow. Several of you have told us similar stories where you managed to negotiate incredible deals on merchandise from suppliers, knowing at the time that you had no idea where you would get the cash to actually pay for the merchandise. So what are the financing options available today to the retail industry? Well, like most other industries, you have the standard bank loan and the line of credit. But what sets the retail world apart is that since many consumers purchase retails goods with their credit cards, a form of financing known as merchant cash advance (MCA), where retailers receive cash advances on their projected future credit card sales, is now a very popular means of financing in the industry. However, as you know, there is a cost to financing and some of the retailers we’ve spoken to who had used MCAs in the past told us that they were actually surprised to learn the true costs of their financings (some reached into the triple digits, WOW!!). So that great deal you thought you were getting on that merchandize may not turn out to be such a great deal after all if the cost of the cash you need to make the deal is prohibitive. We’re not here to speak against MCAs. They can actually be the right option for a business under certain circumstances. The point we’re trying to make is the following: you need access to short term cash to help manage your business; you probably already have a few options to get that cash; but do you really know how these options compare to each other? And what about if you had a few more options and offers added to the ones you already have, wouldn’t that be beneficial to your business? That’s why Cubeler brings you several financing options and allows you to compare all of your offers side by side showing you your estimated repayment amounts so that you can easily determine what offer is truly the best deal for you. Please see below for more on how your business will benefit from being registered on Cubeler.
The Cubeler Advantage:
The small business lending landscape has changed dramatically in recent years. In addition to traditional lenders such as banks and credit unions, there are now literally hundreds of financial institutions in this country, most of whom you’ve probably never heard of, looking to extend credit offers to businesses just like yours. Who are they, where are they and how can you reach them? Well, you don’t have to worry about that because Cubeler brings them all to you, along with the more traditional banks and credit unions, on a silver platter. All you have to do is take a few minutes to register your business on Cubeler for free, and Cubeler will show you all of the pre-qualified financing offers these lenders are prepared to extend to your business. You will then have the option to review and compare the offer details, and select the one that best fits your needs whenever you’re ready. Thanks to Cubeler, it’s never been easier for small and medium businesses to get the financing they need to manage and grow their businesses.
Here are just a few of the benefits you’ll enjoy once you register your business on Cubeler:
For more on how Cubeler does all of this, please see “How it Works”