Your small business is growing! This is a very proud and exciting moment that you have most likely, as the majority of small businesses owners have, worked extremely hard for.
Now that you’ve hit this milestone are you prepared for growth? Do you have the materials, equipment and people power needed to take this next step? If growth has come quickly and unexpectedly, you might want to look into ways you can fund your business towards further success.
Small business loans
Small business loans are common finance options for companies who need an injection of cash to meet the needs of their sudden growth. Whether you need short-term finance to manage cash flow, or long term finance to continue to build your company, there are a range of options available for your specific needs.
Depending on your situation, a small business loan can help you:
- Purchase additional stock and supplies to meet demand
- Hire new staff
- Make renovations to your space
- Implement marketing tactics for continued growth
Asset & equipment finance
The right equipment and assets are essential for the growth of your business. An artist is nothing without their tools, just as a business cannot thrive without the right assets and equipment to keep everything working efficiently. Whether you’re looking to purchase new equipment for the first time or need to replace run-down machinery that isn’t doing the job anymore, asset and equipment finance can make the purchase process stress free.
Utilising asset and equipment finance gives you access to items for your business such as vehicles, equipment and machinery without needing to pay a lump sum upfront. This comes in handy when you don’t have the money available for a big purchase, or if such a purchase could land your cash flow in a risky position.
So when should you look to purchase new equipment or assets?
- When you need to meet deadlines and demands quicker
- Your current equipment and assets are halting your performance
- Your existing equipment is bleeding you dry in repair costs
- You’re looking for a way to stand apart from your competitors
After everything you have done to build your business from the ground up, don’t let the need for additional funding stop it from growing into the well-oiled machine you always hoped it would be! There are loan options that can set you up for success well in the future.
Want to discuss the best finance options for you and your business? Get in contact with us! We’ll take the confusion out of the small business loan research and application process, giving you peace of mind that not only have you got the best loan for your situation but also the money and safety net needed to ensure your growth continues.