Don’t let tight cash flow affect your bottom line, a business loan can help your business grow!
Your business has been surviving through the winter, and you are hopeful that Spring will bring brighter profits. You need capital to survive until things pick up. Here are 3 ways a business loan can save your business.
Inventory Loan
If inventory is low, in order to save business your best investment will be purchasing more products. Begin by evaluating your current inventory levels, if you have several products that are not selling, place this inventory for sale at a discounted price. Use the inventory loan to purchase the popular products you need to boost sales fast. Using an inventory loan to replenish best selling products is a great strategy to save your company.
Payroll Float
Payroll is usually the largest expense for businesses each month. If sales are slow, but employee wages need to be covered, using a business loan as a temporary method to pay payroll is a great way to make use of funds. If your business begins to make a pattern of using loans to cover payroll, it may be worthwhile to consider downsizing or even decreasing hours of employees, as needed. When sales pick back up, you can increase hours to meet the demand.
Cover Operational Expenses
If cash flow is slow but your business has operational expenses such as bills and supplies you may begin to feel like “I need a loan today.” Your business can greatly benefit from using a loan to pay for these expenses while sales are slow. Your business doesn’t have to go without basic necessities, because you are strapped for cash. With Financing Your Way, getting a business loan is fast and, in most cases, funds are available the same day.
When you choose Financing Your Way you will always have access to capital. We can help you find the business loan that you need to be successful and make it through hard times. If you are in need of working capital for your small business, contact us today!