Most people often open their businesses because of the flexibility, satisfaction, and freedom that come with being your boss. Once you decide to quit your 9 to 5 job and do business, there is a lot to prepare for, starting with the capital. The cost of opening a retail store is not cheap. Fortunately, there are several options you can consider for financing. Below are some of the places you can get capital.

Retail Inventory Loans

This type of loan provides you with the capital needed to buy inventory for your business. In this type of loan, you have two options: inventory loan and inventory line of credit. An inventory loan is a term loan where you receive a lump sum and pay it back over a specific period with interest. An inventory line of credit comes in handy where you need a consistent source of funding.

SBA Loans

SBA loans are government-backed loans. Under this, you have 7(a) loans, microloans, and 504 loans.

7(a) loan: Accessing this type of loan is often easy. Just ensure you do not owe the US government any debts. However, note that certain types of businesses cannot receive this type of loan, including private clubs, life insurance businesses, and casinos.
Microloan: This type of loan is ideal for an entrepreneur that does not require more than $50,000.
504 loans: Ideally, most businesses start by leasing property. But if you want to buy a property for your business, then consider this type of loan.


Crowdfunding has become a popular way for entrepreneurs and artists to get the funding they need from a vast network of investors. One of the advantages of crowdfunding is that even with bad credit if you have good business ideas, you can manage to attract investors and raise funds.

Friends And Family

Your close circle of friends can also be your source of financing when starting a retail store. However, have a written agreement in place that will dictate how the payments will be made.

Do not let a business idea remain just an idea because of the lack of funding. You have many choices to explore. You can also reach out to 18 Sierra Financial for the financing you need. We have served many entrepreneurs in the past, and we will be glad to assist you with the funding needed to start your business.