How to know if your business needs a loan

Starting out a business looks different for everyone. Maybe you have enough capital to get started, maybe your overhead costs are very low or non-existent. Perhaps you needed a  business loan to get started in the first place. If you find yourself falling in line with the first two categories, there will come a time where you should start to consider other funding options. Flexible financing helps keep your business in front of your customers. It also provides a reliable source to help you consistently cover your normal working capital requirements. But how would you know if now is your time?

Here are five signs that it’s time to apply for a business loan

  1. Growing or expanding your operations. Whether you’re thinking of adding product lines or staff, expansion typically includes additional operational costs. Many of these costs will be incurred before you begin to bring in new revenue. If you’re adding new sales staff, for example, how will you cover their payroll in the short term?
  2. Going through difficult times or experiencing cash flow problems. While the goals for your business are most likely centered around continued growth and increased revenue, there may be setbacks on your path to meeting these goals, such as outstanding customer invoices or an unexpected repair bill.
  3. Needing additional equipment or assets for a real estate transaction. Purchasing real estate, renovating your existing space, or refinancing your real estate debt can go a long way toward growing your business. However, real estate and construction-related transactions often require specific and/or unique types of funding.
  4. Using your personal credit for business expansion. Using your personal credit, like a credit card or Home Equity Line of Credit, to finance business growth can negatively impact your credit score. This can put your personal creditworthiness at risk and hinder your ability to secure future credit.
  5. Lacking cash flow to support your rapid business growth. Rapid business growth is a positive sign, but it can sometimes be accompanied by cash flow constraints. The growth could be increasing your overhead and costs faster than you can bring in the cash to pay for them.

Having the money in place in advance can make these activities much less stressful, especially if you need to pay your bills before you have the income to cover them.

Ready to apply for your funding?

All clients go through a discovery process with one of our trained staff.  The discovery process is where we ask you a series of questions and give you the honest truth about your file.  Our staff will figure out all the different financing options for you.  Each client’s situation is different.  Clients are in different industries and have different credit scores, gross sales, revenue and profit margins.  They make and show different amounts of income depending on corporate structure, equity and fluctuations in cash flow.  

Business funding is not a one size fits all model.  This is what our trained staff is here to determine.  Our capital comes from hundreds of different sources (Banks, wholesalers, crowdfunders, private lenders and investment groups)  and they all have different underwriting criteria.

Call us today to find out how we can help your business get the funding it needs! 1-888-294-2584

Thinking of Starting a New Business?

Now is the time! With our society ready to get back in action (safely), new business concepts are quickly emerging with creative flows for serving the public without the high risk of spreading the virus. Put your innovative business concepts into play, and connect with us to get the funding you need to start your newest venture!

Financial restraints have been a complaint for many of the dreamers, limiting themselves to their immediate funds. There is an alternative. If you have the dreams and decent credit, Small Business Loans and No Doc Loans are available to you. Our goal is to provide you with the knowledge you need and the resources available to make your dream a reality. Give us a call – we have the education and the perspective to help you obtain the loans you need for your small business. Visit our website or give us a call to find out what financial backing is available to make your business soar!

Unsecured Finances has over 10 years in the consulting business! We specialized in educating and assisting clients on acquiring Unsecured Business Loans and Start-Up Business Specialty Loans including; Unsecured No Documentation (No-Doc Stated Income) Loans, Unsecured Business Loans, and Unsecured Start-Up Business Loans and Lines of Credit from $10,000 to $500,000 without Assets.

Apply on our website to find out if you qualify, or call today for a free consultation: 1-888-294-2584

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