When working at a start-up or small business, you wear a lot of hats. But there comes a time when doing the bookkeeping, fundraising, marketing, and customer service may start to wear on you — and your business. If your small team is doing too many things, something will eventually fall through the cracks and compromise your business model.
Some businesses choose to invest their money in their talent, believing that this is one way to keep their business competitive and innovative. This can be a great move if there is a clear connection between the hiring decision and an increase in revenue. But if having an extra set of hands around helps you focus on the big picture, that alone may be worth the loan cost.
Regardless of the exact reason you are considering a business loan, the point is this: If, when all costs are factored in, taking out the loan is likely to improve your bottom line — go for it. If the connection between financing and a revenue increase is hazy, take a second look at whether taking out a loan is your best choice.
You want to be confident in your ability to pay back a business loan over time and to see your business succeed. Every business decision involves taking a risk. But using a loan could be the right step in moving your company forward.
Well, we believe using a working capital loan can get your business through to the next stage. That could be by improving liquidity to both expand and when times are tough getting you to the other side intact.
* Loans from 12 months to 5 Years