Grocery Store Business Loan

Grocery Store Business Loan

The neighbourhood grocery store is one of the most essential businesses. They’re frequently visited, have a high proclivity for repeat business, and have the ability to entice customers with exotic and fresh goods. If you’re an owner of a grocery store business you’re probably looking at finance options. Learn how our capital solutions can help your business grow and succeed.

Grocery Store Business Loan

Grocery stores are in no short supply in Canada. And with people becoming increasingly cognizant of what they are consuming, it is causing significant disruption in the food industry. Grocery store businesses are finding themselves having to pay more for their products and seeing a rise in fees. In order to appease the public demand for more unique, organic, and ethically-sourced products, you can leverage a grocery store business loan. 

While being able to provide people with healthy food is wonderful, it has proven to be much more costly to stock. That’s why it's important to have access to consistent funding. Driven offers grocery store business loans of up to $300,000 with a variety of flexible payment options, providing entrepreneurs with the capital they need to build the best possible grocery experience. Our application process is quick and easy, allowing you to access the funding you require in as little as 24 hours.

How can a grocery store business loan help me?

Inventory

As you know all too well, you can’t run a successful grocery store business without making sure you have sufficient inventory. Stay ahead of demand by investing in a longer lead of inventory and working with fulfillment partners to manage it. Don’t make your customers wait for you, be prepared to meet their needs at any given moment. You’ll also need to consider the financial burden of food going bad if it isn’t sold.

Equipment

In addition to stocking your inventory, you’ll also need the proper equipment to store, preserve, and display your goods. This might include industrial sized fridges and freezers, heating systems, hydration systems, and display shelving. Grocery store equipment doesn’t come without a hefty price tag. Use a grocery store business loan to deck out your business with all of the necessary equipment.

Staffing and Payroll

Grocery store businesses require a large number of staff to operate. Leveraging a grocery store business loan enables you to fulfill your payroll commitments while freeing up operating capital for initiatives and potential growth prospects. By giving yourself this freedom, you can expand your business and boost your cash flow health, giving you a stronger position in the long run.

Interesting facts about the grocery store industry in Canada

  • According to data from Statista, as of December 2021, Ontario had the most grocery stores among all provinces in Canada - there were 5,321 grocery stores located in Canada’s most populous province. Quebec and British Columbia ranked in second and third places, with a total of 4,219 and 1,623 stores respectively. Yukon had just 15 grocery stores at that time.
  • The Canadian Supermarkets and Grocery Stores industry has experienced heightened sales during the COVID-19 pandemic as restaurants have temporarily restricted dining in, leading to consumers purchasing relatively more groceries to cook at home.

How it works

01

Apply in 3 simple steps and
get pre-approved instantly

Our all-digital credit application process is quick and easy and typically takes less than 10 minutes. We ask for basic information about you and your business. We ask you to securely connect your online banking information. And as soon as you're done, we'll tell you exactly how much you can borrow - all without hurting your credit score.

02

Draw what you need, when you need it

When your application is complete, you'll know exactly how much you can borrow, but only you know how much you actually need right now. Make individual draws from within your overall business loan limit, each with their own fixed fees and terms. All pricing is up front, with nothing hidden in the small print.

03

Use our support for whatever you need

Choose the repayment schedule that makes sense for your business—from daily, weekly or bi-weekly payments, or pay early to save on interest. Borrow from $500 to $300,000 on 2, 3, 4, 6, 9, 12, 18 or 24 month terms, with absolutely no hidden fees.

See if Your business qualifies

Qualification is simple.
No heavy paperwork.

If your business meets the following basic criteria, our all-digital application process will have us on the way to helping you in minutes.

Your business is based in Canada

Your average monthly revenue is at least $3,000

You have been operating for at least 3 months with a dedicated business bank account

What do you need right now?

Every day brings a different challenge and a different opportunity. At Thinking Capital, we're here with the funds you need when you need them, whether that's to seize the moment, to face down business calamities, or to bet on yourself as you take your business to the next level.

Funding the unexpected

Funding the unexpected

Truck broke down? Receivables late? Product stuck on a ship somewhere?

When the unexpected happens (and it will), we’ve got you.
Marketing Funding

Marketing Funding

Got a great product but need to get the word out?

A business can’t grow without putting itself out there. We help you line up your brand, marketing, and ad spend to make that big public splash.
Funding New Projects

Funding New Projects

New products? Channels? Seize-the-moment growth opportunities?

Whether it’s expanding to new locations, audiences, or product lines, we help you invest in growing your business.

We've got you

We're here to make life easier for Canadian small to medium businesses like yours. How can we help you today?