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With each new customer, piece of inventory, and sale, your business is growing and expanding, and it’s all good. But growth can be overwhelming if one day, you realize that you’re desperate for more help, are falling behind, and can’t seem to catch up. Where do you go from here? It’s time to consider a business expansion loan.
Once you’re ready to expand, it is key to put a plan and resources into place to handle the controlled growth of your business. Don’t ignore the signs that you’re on the verge of significant growth.
One of the biggest mistakes business owners make is waiting too long to remodel or expand their business to accommodate their growth. They may be waiting until they hit a certain milestone or accumulate a certain amount of working capital. By then, it may be too late, with growth making heavy demands that the business can’t meet. And the business may be irreparably harmed by failing to deliver.
Instead, financing a business expansion or remodeling can keep you from falling into the growth trap. Getting the right funding, such as a business expansion loan, enables you to put the tools in place for handling additional business before it happens. Not only can small business expansion loans help you better manage your business’s growth, but having the capital on hand can also propel more growth.
Don’t ignore the signs, even subtle ones, that your business growth is beginning to control you, not vice versa. A few of the most common ones:
Start building your growth plan by figuring out exactly what you need in the way of additional resources to manage and leverage your growth. There are so many different ways to expand, from remodeling your current facilities to adding a new location. Being specific will enable you to focus on the areas that will yield the most results for your business.
It’s important that you establish the relationship between capital and results. Once you’ve identified the areas of greatest growth potential and what you’re going to need to leverage them, you can begin to quantify the amount of business financing that you’ll need to apply for and how the funds from business expansion loans will contribute to the results you expect. For example, to expand your warehouse and inventory, you may need a $300,000 business expansion loan. But you’ve also calculated that this investment will net you well more than $500,000 in the next two years. Is it worth it? You bet.
Small business loans or merchant cash advances can be used to fund new avenues of business growth. Business expansion loans also enable you to add critical resources to your existing operation to better manage your growth. Here are some ways additional capital can help your growing business:
Don’t let business growth get the better of you. Pay attention to the signs, and have a plan for managing your growth. With our business expansion loans, you can access the growth capital you need to produce maximum results. If small business expansion loans sound like something you wish to explore, fill out our online form to find out how much you qualify for. To learn more about our merchant cash advances or other flexible funding solutions, contact us today.