Merchant Cash Advances » Bicycle Business Advance

Bicycle Business Funding

Bearded bicycle shop owner tinkers with bike.

By Richard Wilson

Last Updated on

Estimated read time: 7 minutes

If you operate a bicycle shop business and need funding to expand your road bike inventory, enhance your mountain bike offerings, or invest in specialized bike repair services, MCashAdvance bicycle shop business advances are the swift solution you’ve been searching for.

We offer bicycle shop business advances ranging from $5,000 to $900,000 to help grow your bicycle retail enterprise. We fund all types of bike businesses, including road bike shops, mountain bike shops, and bike repair services.

Securing financing from banks for bicycle shop businesses can be a lengthy and challenging process, often taking weeks or even months to obtain, with strict approval requirements, extensive paperwork, and a preference for businesses with perfect credit.

An advance from MCashAdvance for bicycle shop companies offers simpler approval, no paperwork or collateral, the possibility of receiving funds within 24 hours or up to 3 days, and accepts poor credit scores with no hard credit check that won’t impact your credit score upon application.

Get a Bicycle Shop Loan Alternative Now

MCA Feature Offer Details
MCA Amounts: $5,000 – $900,000
Factor Rate: 1.1 – 1.5
Holdback 10 – 25%
Repay In: 3 – 18 months
Funding Time: 1 – 3 days

Applying is easy, free, and won’t impact your credit score.

Get the bicycle shop financing you need today.

What is a Bicycle Shop Cash Advance?

A bicycle shop business cash advance is a type of merchant cash advance (MCA) created for bicycle shop businesses, including road bike shops, mountain bike shops, and bike repair services.

Your bicycle shop business sells a portion of its revenue to MCashAdvance in exchange for an upfront lump sum of funds called a cash advance.

In exchange, we will deduct a small percentage of your daily sales revenue until the advance is fully repaid.

Emergency Funding for Bicycle Store Businesses

In the bicycle retail and service industry, distinct financial needs arise from the operational demands of selling bicycles, accessories, and providing maintenance services. A cash advance for bicycle store businesses delivers targeted financial support, quickly accessible and tailored for the unique requirements of the cycling industry.

Bicycle Shop Financing for Any Purpose

Here are [17] common ways a cash advance can be utilized in your Bicycle Store:

  1. High-End Bicycle Inventory: Use the funds to expand your inventory with premium bicycles, including road, mountain, and electric bikes, catering to diverse cycling enthusiasts.
  2. Cycling Gear and Accessories: Invest in a wide range of cycling accessories such as helmets, gloves, lights, and high-tech gadgets like GPS units for cyclists.
  3. Advanced Bike Repair Workstations: Direct the capital towards setting up professional-grade bike repair and maintenance stations equipped with the latest tools and technology.
  4. Custom Bike Fitting Services: Finance the establishment of custom bike fitting services, utilizing biomechanical analysis tools to enhance rider comfort and performance.
  5. Bicycle Safety and Maintenance Workshops: Use the advance to host educational workshops on bicycle safety, maintenance, and repair, building community and customer loyalty.
  6. E-Bike Charging Stations: Invest in installing e-bike charging stations to accommodate the growing market of electric bicycles and offer added convenience to customers.
  7. Cycling Apparel and Footwear: Direct the funds to stock a variety of cycling-specific apparel and footwear, including performance wear and protective gear.
  8. Bike Rental and Demo Programs: Use the capital to launch bike rental services or demo programs, allowing customers to try before they buy.
  9. Mobile Bicycle Repair Services: Finance the setup of a mobile bike repair service to offer on-site maintenance and repairs at customers’ locations or cycling events.
  10. Inventory Management Software: Invest in advanced inventory management software to efficiently track stock levels, sales, and customer orders.
  11. Indoor Cycling and Training Area: Use the funds to create an indoor cycling area equipped with trainers and simulators for year-round training and bike testing.
  12. Marketing and Community Engagement: Direct the capital towards targeted marketing campaigns and sponsorship of local cycling events to increase brand visibility.
  13. Secure Bicycle Parking Solutions: Finance the installation of secure bike parking solutions for customers visiting your store, enhancing convenience and safety.
  14. Cycling Navigation and Training Apps: Use the advance to develop or partner with cycling navigation and training apps, offering digital solutions to enhance the cycling experience.
  15. Sustainability Initiatives: Invest in sustainability initiatives, such as recycling programs for bike parts and promoting eco-friendly cycling products.
  16. Customer Loyalty and Rewards Programs: Direct the funds to establish a loyalty program, rewarding repeat customers with discounts, free services, or exclusive offers.
  17. Cycling Books and Educational Materials: Use the capital to offer a selection of cycling books, maps, and educational materials, catering to beginners and experienced cyclists alike.
Bicycle shop showcasing wide array of bikes for sale.

Bicycle Outfitter Cash Advance Example

Let’s say you need a $15,000 bicycle shop merchant cash advance to buy equipment to offer repairs and upgrade fitting service for your bicycle outfitting store. If you are approved for $15,000 and receive a funding offer with a factor rate of 1.2, your total repayment amount will be $18,000 (Total Repaid Amount).

Advance Amount$15,000
Factor Rate1.2
Avg Monthly Credit Card Sales$11,000
Holdback Percentage10%
Daily Credit Card Sales$366.67 per day (approx.)
Daily Payment Amount$36.67 per day (approx.)
Repayment Term (in days)Approximately 490 days
Repayment Term (in months)Approximately 16.33 months
Total Repaid$18,000 (Total Repaid Amount)

Bike Store Funding Eligibility

To be eligible for funding from MCashAdvance you must meet these 5 criteria:

  1. Your bicycle shop must have been operational for at least 6 months
  2. Your cycling store should be generating a minimum of $100,000 per year in revenue
  3. As the bicycle shop owner, your personal FICO score needs to be 550 or higher
  4. Your bike retail center must utilize a business checking account
  5. You, as the bicycle shop proprietor, must be over 18 years of age and a U.S. citizen

How to Get a Bicycle Store Advance from MCashAdvance

To get an advance for your bicycle business from MCashAdvance, follow these 5 steps:

Step 1: Begin Online Application: Click Apply for an MCA to begin.

Step 2: Fill in Your Details: Provide information about your bicycle store and some personal details as the owner of the store.

Step 3: Submit Bank Statements: Upload the last three months’ bank statements of your bicycle store.

Step 4: Await Review Process: One of our underwriters will review your cash advance application to decide on funding.

Step 5: Receive Offer and Funding: Once you get a funding offer, review it. If it suits your business needs, accept it, sign the MCA agreement and the funds will be deposited into your business account.

Get a Bicycle Business Advance Now

or learn more about business cash advance loans

Bicycle Business Funding FAQs

Can bicycle shops get an SBA loan?

Bicycle shops can potentially qualify for SBA loans, and they are most likely to be eligible for options like the SBA 7(a) Loan, SBA Microloan, and SBA Express Loan, which can provide financial support tailored to their industry.

Can bicycle shops get invoice financing loans?

Invoice financing loans are less common in the retail industry, such as bicycle shops, where transactions are often point-of-sale. It is more prevalent in industries with significant B2B invoicing.

Can banks lend to bicycle shops?

Banks usually demand that bicycle shops have a minimum of two years in operation, a FICO credit score of 680 or higher, three years of cash flow records, and a clear business plan detailing fund usage. Meeting these criteria raises the chances of bank approval. If you can’t meet these requirements, consider exploring alternative lenders like MCashAdvance, which may offer more favorable eligibility criteria for obtaining financial support for your bicycle shop.

How does bicycle shop equipment financing work?

Bicycle shops can purchase equipment like bike racks and use the bike racks as collateral to secure financing. At MCashAdvance, you can acquire bike racks using our advances without having to use the equipment as collateral.

Can bicycle shops get business lines of credit?

Yes, bicycle shops can access business lines of credit from most lenders if they meet certain criteria specific to the bicycle shop industry. These typically include maintaining a FICO credit score of 660 or higher, having at least one year of experience in the bicycle shop business, and consistently generating monthly revenue exceeding $5,000 as a bicycle shop.

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