Furniture Business Financing Still Available, Despite Weak Revenues

Weakness is the retail sector is causing some banks to withdraw furniture business financing at a time when furniture retailers need capital to keep their doors open. Sales of furniture are off substantially in the recession, but the sales slump isn’t just hitting the home furnishings industry. According to the Business and Institutional Furniture Manufacturers’ Association, production of business furniture in 2009 dropped nearly 30% compared to 2008 levels. Similarly, sales of office furniture were off by 29%.

The furniture industry as a whole has been hard-hit during the recession. Homeowners aren’t moving, a factor which heavily drives new furniture sales. Businesses aren’t buying as much new furniture as they had in the past in an effort to cut expenses. Currently, sales of refurbished office furniture account for about 15% of the office furniture sales market and are expected to climb as businesses look for more affordable furniture alternatives.

Rapid Capital Funding is a specialist in small business financing and we can provide your retail furniture business with the capital you need to make your business run smoothly. If your business generates at least $2,500 each month in credit and debit receipts, you may qualify for furniture business financing of as much as $250,000.

Our business cash advance also eliminates monthly minimum payments. Each credit or debit sale will help you repay your advance. A portion of each sale is used to repay your advance, but the vast majority of the proceeds come back to you. That way, you get the cash you need up front and you get the cash flow that keeps your business moving!

Photo Credit: taberandrew, via Flickr

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