Your business may have outgrown your original site, shop or office. Or it’s getting a bit shabby looking and you’d like to modernize it. Maybe your current location works well but you’d like to expand.
Nearly every business needs new equipment at some point, or you might be expanding your product line to include new inventory. Or you need to keep with technology advances in your field. Whatever the case, buying new equipment or inventory can often be a large outlay.
Sometimes a new opportunity comes along unexpectedly. You might connect with a new market overseas, or you gain a big new client, or years of networking finally pays off with a new business relationship. The only trouble is, it often means you have to move fast.
One of the most valuable assets you can find are great employees. It can be worth it to your business to recruit, train and retain your best people – especially if your business is going through rapid growth.
Sometimes it’s not a lack of profit, but cashflow gaps that can have disastrous consequences for businesses. If you’re struggling with paying suppliers, wages or tax obligations on time because you’re not receiving payments, a loan can help you to continue trading as normal.
You may need to invest in a significant marketing campaign to give your business a sales boost, which can pay off in the long term.
You’ll need to be able to prove consistent monthly revenue for a business loan, and there may be other criteria to meet. This can include having a viable credit rating, a guarantee to ensure that the loan will be repaid, or evidence of a minimum of 12 months of trading.
We can assist you with business loans and help you consider which might work best for you. Please contact us now to get started.