Simons to Take on Outside Investment

Canadian department store Simons has been planning on taking in outside investors for a couple of years now, a move that is unprecedented in the store’s history. The main reason for this move is to fund a 215 million dollar distribution center that will be located in Quebec City, as the retail market continues to heat up.

Two outside investors are planning on putting in $27 million and $17 million, respectively, and the government of Quebec is even getting in on this opportunity, offering $81 million on a term loan. An institutional investor is said to be contributing as much as $20 million, to help with the purchasing of the land, as well as the construction of the new project Simons has in the works.

This brand new facility is expected to use advanced technology and automated equipment that will help to increase overall productivity while keeping its place firm in an otherwise extremely competitive market. Peter Simons, company president, has told the media that he is going to war.' He plans on creating innovation within the company that they've been following closely for the last decade. 

A Brief History of Simons

Simons is a family company that has kept its roots in Quebec City, having been founded by John Simons in 1840. Recently, it has made waves in Canada and now has 15 locations across the country, including in places like Alberta and Ontario.

The brand new distribution center located in Quebec City is expected to open later this year and will be roughly 53,000 square meters. With this sheer size and scale, Simons is expecting it to be able to process as many as 15,000 customer orders every hour. Simons intends to use the distribution center to 'accelerate online commerce,' as we move more and more of the retail industry online. 

Investing in businesses of this size requires a lot of equity, and of course, outside investment opportunities. If your retail business is on a smaller scale, though, and you wish to expand at some point in the future, there are helpful alternative lending solutions that can support you through the process.

Smaller Scale Lending Options

A couple of examples of simple, yet effective lending options are personal loans and car title loans. A personal loan is a loan that you secure from the bank, or credit union, without an asset as collateral. These types of loans can be risky because, without any collateral, they aren't as secure. Title loans, on the other hand, offer a loan quote based on the title value of your car, which allows for a much more secure loan.

Title loans can also offer flexible repayment options, too.

The title loan industry has seen a big rise in online title loans, as more and more companies make the virtual move. You'll find plenty of title loan options out there that can fit into your business requirements, so it's important to remember to shop around for a bit first and get more than one quote. Every lender is different and will have different repayment options available.