Working with the team at Funding America allows you access to leading industry experts. We can assist you with developing a strong and financially sound business. Whether you are looking for a small business loan for your startup, or you need to lease/buy equipment, or whatever your need and objective might be, you choose the right option to meet and surpass your goals. To learn more about any of our programs or to speak with a consultant, please contact us today for a free, no obligation analysis of your financing needs.
4 Smart Reasons to Get a Business Loan
1. You’re building credit for the future
Young businesses can often have a hard time qualifying for larger loans if both the business and the owners don’t have a strong credit history. Taking out a smaller loan and making regular on-time payments builds your business’s credit for the future.
2. You need equipment for your business
Purchasing equipment that can improve your business offering is typically a no brainer for financing. You need certain machinery, IT equipment or other tools to make your product or perform your service, and you need a loan to finance that equipment.
3. Ready to expand your physical location
Your cubicles are busting at the seams, and your new assistant had to set up shop in the kitchen. Sounds like you’ve outgrown your initial office location. Or maybe you run a restaurant or retail store, and you have more customers in and out than you can fit inside your space. This is great news! It likely means business is booming, and you’re ready to expand. But just because your business is ready for expansion, doesn’t mean you have the cash on hand to make it happen.
4. You want to purchase more inventory
Inventory is one of the biggest expenses for any business. Similar to equipment purchases, you need to keep up with the demand by replenishing your inventory with plentiful and high-quality options. This can prove difficult at times when you need to purchase large amounts of inventory before seeing a return on the investment. Especially if you have a seasonal business, there are times when you may need to purchase a large amount of inventory without the cash on hand to do so.