Guide

Your distributors want payment at delivery and the holiday order is three times a normal week. What funds the stock-up?

A working capital loan or a card-settlement advance sized to the extra November and December orders, funded in one to three business days on your deposits, and applied for in October while the statements show a normal quarter. A number of states require retailers to pay alcohol distributors at delivery or within days by law, so supplier credit is not coming. The durable fix is a line of credit set up in spring and drawn every fall.

Why your distributor will not carry you, and cannot

In a number of states the payment terms between an alcohol wholesaler and a retailer are set by statute rather than negotiated. Texas's cash law, for example, requires retailers to pay distributors for malt beverages at delivery, with electronic transfer, cashier's checks and similar instruments counting as cash; other states run similar cash or short-credit rules, and some require electronic payment for every invoice. A retailer who falls behind can be reported to the state and placed on a delinquent list that every distributor in the state can see.

So the thirty days of supplier credit that a hardware store or a restaurant quietly runs on does not exist for a package store. Every case is paid for at the door, and the holiday order is paid for at the door three times over.

Funding the stock-up

A working capital loan or a cash advance on the store's last three to six months of deposits, funded in one to three business days. Liquor stores are card-heavy and card settlements are the easiest deposit pattern in the world to underwrite, so approval is rarely the problem. Amounts run half to one and a half times a month's deposits, which for most stores covers the difference between a normal week's orders and a December week's several times over.

Apply in October. The statements a funder reads in October are July through September — a normal quarter. The same application on December first is read against a November that was already spending ahead, and the offer shrinks for it.

A true holdback advance, repaid as a percentage of card settlements, fits this business well: the payment is largest in the December weeks that generated the need and smallest in the January weeks that did not. Ask for it by name and read the reconciliation clause.

What your deposits support

MONTHLY DEPOSITSTYPICAL OFFER RANGE$30Ka month$15K$45K$50Ka month$25K$75K$75Ka month$38K$113K$100Ka month$50K$150K$200Ka month$100K$300KNEWER BUSINESS, SHORTER HISTORYLONGER TRADING, STEADIER DEPOSITS
Most revenue-based funders advance between 50% and 150% of one month's bank deposits. Where you land inside that band is decided by time in business and how consistent the deposits are — not by which end of it you ask for. Deposits below $30K a month generally do not qualify, and $15K is the smallest amount placed.

What a distributor's minimums do to the number

Distributors set minimum order quantities and values, and the holiday allocations for the products that sell are often available only to stores that take the full case count. That means the stock-up is not just larger; it is lumpier, arriving in a handful of large deliveries each paid in full that day. Size the funding to the delivery schedule, not to an average week, and keep a few days of buffer for the allocation that arrives early.

Every year, so set up the line

A business line of credit applied for in spring, against the previous holiday's statements, is drawn in November and repaid from December and January sales, costing nothing from February to October. It is harder to qualify for than an advance and it turns the stock-up from an annual application into a routine draw. A store with two years of clean statements should have one.

Sources

Related questions.

Can I use the inventory as collateral?
Some specialist lenders write inventory lines against a percentage of the stock's liquidation value, more often for larger stores. For most independents, deposit-based funding is faster and does not need an appraisal of the shelves.
Does being on a state delinquent list affect funding?
A funder reading bank statements will not see the list directly. It will see the distributor deliveries stop, and so will your customers. Clear the delinquency before anything else; the funding above is one way to do it.
Are liquor stores a category funders avoid?
No. Steady card settlements, low seasonality outside the holidays, and repeat customers make package stores a straightforward file. Some banks decline the category on principle; revenue-based funders do not.

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