Valentine's Day is Right Around the Corner: How Additional Working Capital Can Benefit Your Flower Shop!
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Valentine’s Day is Right Around the Corner: How Additional Working Capital Can Benefit Your Flower Shop!

Love is in the air, and Valentine’s Day is just a few weeks away. Many flower shop owners understand that this is their peak season. Inventory must be stocked full, and marketing and advertising must be up to par to face the heavy competition, among other things. Aside from this holiday, Mother’s Day is just a few months away. What do you do if you want to take advantage of these key times of the year, but need a little extra working capital to help out? Take a look at the reasons most florist obtain working capital funding and the many funding solutions available to you!

Top 5 Reasons Florists Obtain Working Capital Loans

  1. Inventory – As seasons shift, inventory needs shift; For instance, bulk inventory purchases need to be made for holidays such as Valentine’s Day or Mother’s Day compared to other times during the year.
  2. Advertising – The flower shop business is a competitive which means your marketing and advertising must be up to par. This can be expensive.
  3. Payroll –  Due to seasonality, many florists find themselves in a bind at certain times throughout the year when it comes to paying their employees.
  4. Taxes –  No business owner enjoys tax time. Florists are no exception, and many find themselves in need of a business loan to cover the high cost of filing their taxes each year.
  5. Expansion – Whether you want to build an addition to your existing business or open a new location, a business is usually needed to help out with that.

Popular Working Capital Funding Solutions for Florists

Merchant Cash Advance: Short-term financing transactions that are collected through a set percentage of your Visa and MasterCard sales that are accepted at your place of business. Probably the most common term used in the industry. These do not have a set repayment schedule and are based on the volume of your businesses credit card processing sales. These are usually only guaranteed by the future sales of your business.

Invoice Factoring: Invoice Factoring is used to finance businesses with short-term cash flow issues – especially when your business doesn’t qualify for a traditional bank loan or any other alternative solution. Your lender will factor your business’ customers’ invoices to match your working capital needs.

Term Loans: A loan that is backed by a bank for an exact amount that has a specified repayment timetable and interest rate that are adjusted accordingly. Terms mature between 1 and 10 years.

Business Lines of Credit: A rotating loan that gives business owners access to a fixed amount of money, which they can use day-to-day according to their need for cash. Interest is only paid on the amount of the advance actually used.

What are the Perks?

  • No personal collateral required
  • Minimum paperwork required
  • Poor credit considered
  • Repayment terms are flexible
  • Fast Processing
  • No personal guarantee
  • No application Fee
  • Builds your business credit
  • Funding can occur in as little as 2 business days

For more on business financing solutions for your car dealership, or any kind of business for that matter, visit our Solutions page and APPLY NOW!

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