Everwick Lending Group, a small-business funding service in Pontiac, Michigan, explains grocery store loans for Oakland County grocers, convenience stores and liquor stores: grocery store financing by purpose, convenience store loans, how to get a loan for a grocery store, liquor store funding and buying a store, with County Business Patterns figures.
At a glance
- Grocery store employers, Oakland County, MI
307 establishments, 10,500 employees (CBP 2023)
- Of which convenience stores
89 (CBP 2023, NAICS 445120)
- Grocery stores without payroll
253 (Nonemployer Statistics 2024)
Oakland County, MI grocers in Census counts
| Business type | Employers (CBP 2023) | Employees | Annual payroll | Under 5 employees | Without payroll (NES 2024) |
|---|---|---|---|---|---|
| Grocery stores (NAICS 4451, incl. convenience) | 307 | 10,500 | $320.1 million | 33.2% | 253 |
| Convenience stores (NAICS 445120) | 89 | 561 | $12.6 million | 53.9% | 122 |
| Gasoline stations | 358 | 1,908 | $56.8 million | 56.1% | 20 |
The grocery count of 307 includes 89 convenience stores, leaving 218 supermarkets and other grocers (our arithmetic from Census Bureau, County Business Patterns 2023). Grocery employers paid about $30,485 per employee in 2023 (our arithmetic), and grocery stores without payroll reported about $51,154 in receipts each on average in 2024 (our arithmetic from Census Bureau, Nonemployer Statistics 2024).
Grocery Store Financing for Owners Around Pontiac, MI
Grocery store financing follows the purpose. Coolers, freezers, shelving, checkout lanes and a meat or deli counter are equipment financing. Stock bought ahead of sales is inventory financing or a line of credit. A remodel or second store is a term loan. Refrigeration breaks down without warning, and a replacement can be financed like any other equipment.
Convenience Store Loans for Pontiac, MI Companies
Convenience stores had 89 employers in Oakland County in 2023, 53.9% with fewer than five employees (Census Bureau, County Business Patterns 2023). Convenience store loans fund coolers and reach-ins, stock and a remodel. Stores that also sell fuel are counted separately as gas stations (358 employers), and fuel loads and pumps add their own questions about supply contracts and tanks.
Pontiac, MI Business Loan for a Grocery Store
A business loan for a grocery store is read on sales and margins. A partner reads point-of-sale reports by department, bank statements, supplier terms and how much stock sits on the shelves at cost. A partner may also ask which departments carry the store.
How to Get a Loan for a Grocery Store: Pontiac, MI Owners Ask
- Name the purpose: equipment, stock, a remodel or buying a store.
- Get vendor quotes or the supplier's order, or the seller's records for a purchase.
- Pair a year of bank statements with the register reports for the same months.
- List existing loans, leases and any advances against card sales.
- Dial (248) 301-1846 about the cooler or the store, or use the request form.
Illustration only, invented figures: a walk-in cooler at $48,000 and new shelving at $21,000 come to $69,000 (our sum). In this invented example the grocer asks for one equipment request covering both items.
Pontiac, MI Liquor Store Loan
A liquor store loan funds stock, coolers, shelving, security systems and buying an existing store. Stock is a large part of a liquor store's assets, and a partner reads its value at cost and how fast it turns. Buying a store that holds a liquor license adds a transfer process that runs alongside the funding, and the purchase can depend on whether the transfer is approved.
Liquor Store Funding: What Pontiac, MI Owners Should Know
Liquor store funding for stock fits inventory financing or a line of credit; for a remodel, a term loan; for coolers and security, equipment financing. Advances against card sales are offered to liquor stores as to any card-heavy business; a merchant cash advance is not a loan, and its total should be weighed against the margin on the stock it buys.
Stock Count, Lease and Licenses: Buying an Oakland County, MI Grocery
Buying a store means buying its stock, equipment, lease, supplier accounts and any licenses that can transfer. A term loan can fund the price; the partner reads the seller's returns and sales reports, the inventory count at cost close to closing, and the lease. Agree how stock is counted on closing day.
- Seller's tax returns and point-of-sale reports
- Inventory count at cost
- Lease and assignment terms
- Supplier contracts and any license transfer papers
Card deposits and supplier terms at Oakland County, MI grocers
Grocers take card payments every day and pay suppliers on terms that range from cash on delivery to several weeks. A partner reads both sides: the card and bank deposits for the sales, and the supplier statements for what is owed and when. A store that pays its main suppliers on time and keeps its card deposits in one account gives a partner a clear record to read.
If an advance against card sales is already in place, list it; a partner sees the daily remittances in the statements anyway.
Grocery funding beside other Pontiac, MI trades
The retail business loans page covers other stores, and the restaurant loans page covers food businesses with kitchens. The Pontiac, MI business data page has the county's figures, and the industry pages cover the rest.
By Everwick Lending Group · Updated