Convenience Store Funding

According to IBIS, the market size of the convenience store industry is expected to increase by 2.4% in 2022. Provide your clients with the most convenient experience with up to $500,0000 in funding from Greenbox Capital® as fast as 24 hours.
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Fast Convenience Store Funding You Can Trust

Changing consumer lifestyles and a growing preference for local one-stop and round-the-clock shopping are driving growth for convenience stores.

The Canada Small Business Financing Program (CSBFP) and commercial banks often consider convenience stores “high-risk” due to factors like their low rate of return and high inventory turnover. As a result, convenience stores often have difficulty obtaining financing from these lenders. While you wait for funding, valuable opportunities to grow and expand can be lost.

With a streamlined online application, fast turnaround, and flexible approval requirements, Greenbox Capital® can approve more convenience store funding than traditional lenders. We can also approve funding faster, with funds deposited in as little as one business day. We provide multiple types of convenience store funding to help grow your business, with funding from as low as $3,000 up to $500,000 and no restrictions on how you can use your funds. We fund all convenience stores, including service stations, kiosks, and more.

Convenience Store Funding Rates

Convenience store funding rates depend on the type of alternative small business funding you receive. Most alternative convenience store funding options use a factor rate instead of a traditional interest rate. Factor rates are simple decimal figures that show how much “extra” you will owe on the original amount of the loan and are determined based on your risk assessment.

Convenience Store Funding Solutions in Canada

Our friendly, expert funding advisors will work with you to determine which funding option will help you achieve your goals without compromising your business’s cash flow.

How To Use Convenience Store Funding

Convenience store cashier

There are no restrictions on how you can use funds from Greenbox Capital. Convenience store funding is ideal for supporting your business’s working capital, fueling your growth, and providing the quality service your convenience store requires while keeping its shelves fully stocked. Use your funding to:

  • Purchase inventory stock
  • Offer local delivery
  • Modernize your store
  • Update appliances like refrigerators and upgrade store displays
  • Fund expansion plans
  • Invest in computerized systems to track inventory
  • Hire and train new employees
  • Advertise and market your business
  • Extend hours of operation
  • Open other locations within a city or area to increase your potential profits

Sometimes, convenience stores need a quick infusion of working capital to help meet the unique challenges of their field, such as:

  • Obtaining business licenses and insurance
  • Dealing with supply chain issues
  • Employee retention
  • The need for specialized equipment such as surveillance cameras, ATMs, beverage machines, lottery machines, and more.
  • Increase cash flow
  • Dealing with regulatory compliance
  • Meeting payroll during slow periods

How Convenience Store Funding Works

  • 1
    Apply

    Gather 3 months of bank statements and other records. For faster approval, grant us secure access to your bank account’s transactional data.

  • 2
    Choose Funding

    A Funding Advisor will reach out to you within 1 hour (during regular business hours) to complete your application & discuss your funding options.

  • 3
    Get Funded

    Once you and your Funding Advisor determine what funding option works for your business, your funds can be approved and deposited within 24 hours.

  • 4
    Set Repayment

    Payments will be automatically deducted from your business’s daily or weekly debit and credit card sales. Payment amounts will be based on your sales.

Will You Qualify for Convenience Store Funding?

Exact qualification requirements depend on the type of convenience store funding you are seeking. Approval for convenience store funding from Greenbox Capital isn’t based solely on your credit score or financial history. We focus on the overall health of your business, including:

  • Business revenue
  • Cash flow
  • Vendor payment history
  • Years in business
  • Public records

Convenience Store Funding Q & A

How can I get funding for a convenience store?

You can get funding for a convenience store from traditional lenders like the CSBFP or a bank, as well as from alternative lenders like Greenbox Capital. Alternative lenders have more flexible approval requirements that consider the overall health and potential of your business—not just your credit score—and offer revenue-based financing options that are more ideal for businesses with lower credit scores, such as merchant cash advances. Contact one of our Funding Advisors to learn more.

Why should I consider an alternative lender for my convenience store?

Most traditional banks consider convenience stores to be high-risk and will not fund them. As an alternative lender, we have different approval requirements and can approve funding for “high risk” industries. We can provide you with the funds you need to cover project expenses, labour, materials, and more, often in less than 24 hours.

What are the typical uses of funding for a convenience store?

There are many ways you could use your funding. Some popular uses of funding for a convenience store include buying new products, improving point of sale systems, and restocking shelves. Funding can also be used for things like renovations, marketing campaigns, and even employee training. In some cases, convenience stores will set aside a portion of their funding to be used as a buffer in case of emergencies. This helps to ensure that the store can remain open and operational, even if sales are slow. Make sure to consult with one of our Funding Advisors to ensure you are using your funding in the most efficient and effective way possible.

Are there any restrictions on how the funds can be used?

There are no restrictions on how your funds can be used. We have a very simple application process, with same-day funding available. To get started, fill out our one-page application form or speak with a Funding Advisor.

Which type of funding is best for a convenience store?

A merchant cash advance is one of our popular funding options. We recommend you speak with one of our knowledgeable Funding Advisors—they can help you explore all of the available funding solutions for your business.