The Advantage of Small Business Loans for the Holidays

It’s not too late to bulk up your business for the holidays with loans!

As a Small Business Owner – really as any Business Owner – you should have your holiday funding sorted out already. However, it’s not too late if you put it together now. Small-to-medium businesses often find themselves looking for last minute funding during the holiday season, and while last minute lending can provide a much needed cash infusion, they can be more expensive than financing that was initially planned and budgeted for. Still, it is a must-have for businesses needing to bulk up on products, supplies and marketing that is essential for the holidays. 

Surprise! Additional Year-End Expenses for Small Businesses

Many of the loans taken out during the holiday season are taken out last minute because they were unexpected. There are many financial issues that can crop up during the holidays:

  • Payroll & Holiday Bonus Expenses 

Many business owners enjoy giving gifts to their employees during the holidays, but this can take a financial toll, especially if the business hasn’t budgeted appropriately.

  • Year-End Expenses 

The end of the year can bring many contracts to bear, some of which may need to be paid out immediately and finalized.

  • Reduced Income

For companies outside of the retail and entertainment industries, the holidays can be slow. Business owners may not anticipate making significantly less income through the holiday season.

  • Seasonal Business Trends 

Even though some companies may be doing more business, they may be profiting less. This is because they may need to hire seasonal and temporary workers, invest in training, buy more supplies, and more.

  • Supplies & Equipment

Sometimes the expenses are temporary. Those within a retail or merchandising space may find that they sell more product than ever, but this comes at a temporary cost of supplies, product, and equipment. A business owner may need to leverage financing to fulfill these orders.

Business owners may also find themselves financially strapped (personally) during the holiday season, which can make it more difficult for them to lend money to their own business. Together with the factors above, it creates a perfect storm.

The end of the year can bring many contracts to bear, some of which may need to be paid out immediately and finalized. A small business loan might be necessary to cover these year-end expenses. 

Surviving the Holiday Season

Rather than having to apply for last minute financing, business owners should plan ahead. Last minute financing options generally include merchant cash advances and personally guaranteed loans, both of which can be expensive and lead to significant fees over time. By calculating necessary working capital ahead of time, a business owner can procure the best financing option for them well in advance. However, if you waited until the last minute and it is still necessary to drive sales in the holidays, the profit you make will likely make up for the additional loan costs. 

Business owners should take a look at their prior year expenses for the holiday season, in addition to anticipating how seasonal business trends may impact their sales and revenue picture. In terms of personal finances, business owners should also be prepared to devote additional working hours during the holiday season and should be aware that they may not be able to rely upon company draws.

Need Start-up or Small Business Loans to Survive the Holidays or Prepare for 2021?

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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