Financing for hardware stores
A hardware store competes on selection and proximity. We help you explore capital for inventory and fixtures, or financing to buy the store customers already know.
GROW™ — capital for your next stage
GROW™: up to $350,000, up to 10-year terms, no prepayment penalty and no specific personal collateral required.
What owners typically invest in
- Inventory and seasonal stock
- Shelving, counters and point of sale
- Expanding storage or sales floor
- Key cutting and service equipment
- Hiring counter staff
OWN™ — buy the building where you operate
Inventory takes space, and space costs rent every month. Owning the store lets you grow selection without a rent increase eating the margin, and it protects the location customers already associate with you.
What lenders typically review
Lenders usually review how long the business has operated, its cash flow, the owners’ credit and inventory turns and margin by category. For GROW™, reference guidelines include three or more years in operation, a personal FICO of 650 or above, a minimum SBSS score of 165, personal and business debts current, repayment capacity with a minimum DSCR of 1.25x and no bankruptcy in the last seven years. GROW™ does not require specific personal collateral, though limited business collateral requirements may apply. To buy the property through OWN™, your business must occupy most of the building.
Frequently asked questions
Can I use capital to buy inventory?
Yes, inventory and working capital are contemplated GROW\u2122 uses, with terms up to 10 years.
Can I buy the store I rent?
In many cases, yes, if your business occupies most of the property. Eligibility depends on the lender.
How is a seasonal business evaluated?
The lender reviews the full year and your repayment capacity. We present several periods to show the pattern.
Is there a penalty for paying early?
No. GROW\u2122 has no prepayment penalty.
Related uses of capital
Every rent payment builds your landlord's equity. With owner-occupied SBA financing, you can buy the building you rent today and turn that monthly payment into an asset you own.
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The right equipment lets you serve more customers, work faster and offer new services. With working capital you can invest in it without draining your operating account.
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Running out of stock in your best season means losing sales you already had. With working capital you can buy ahead, take advantage of volume discounts and say yes to large orders.
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Find out what your business may qualify for
Answer a few questions and an advisor will review your case, with no obligation.
All financing is subject to approval, financial analysis and lender terms.