3 Questions You Need to Ask Yourself Before Looking For Financing

Before you start thinking about financing, ask yourself this simple question?

Does this money make me money?

That questions makes you sit back and think.

How do you answer this question…

The answer is simple, what sort of revenues opportunities will this loan generate for my business.

Once you answer this questions, it will determine if it’s worth pursuing.

Now that you have determine its worth moving forward.  You can determine the size, term of the loan and APR (Annual Percentage Rate which is your all in cost for the loan) of the loan you need.

The best 3 opportunities to use a loan for...

1. Expand operations
2. Purchase equipment
3. Purchase Inventory.

Expand Operation

Say you have determined that the location you are currently at is at its max.  It’s time to open a new location to accommodate the growth of the business.

Banks typically take too long to respond, when they do you have wasted 2 months of chasing your banker to get a no.

Or you have a success product that needs some marketing behind which will expand your operations.

Another option financing option...

Equipment

Depending on your type of business, your equipment needs could range from computers to steel presses.

While high-quality equipment is vital for a business to work, the buck doesn’t stop there - you need hire more staff to operate it and possibly increase your marketing to attract more customers — all of which cost more money.

We’ll work with you to make sure you can obtain all the elements you need to make the new addition a profitable move for your business. That’s why we pair every business owner with a loan specialist, so you get the right-sized financing for your needs!

The last but not least!

Inventory

To obtain inventory when your products are flying off the shelves, you don’t have enough capital to ensure that your inventory matches your customers’ enthusiasm.

It’s often difficult for inventory to keep up — and traditional institutions are too slow-moving to provide the capital that they needed to take their brand to the next level.

Are you ready to take your business to the next level?

In Summary, the main questions you need to ask before getting financing is what sort of revenues opportunities will this loan generate for my business. Once this determine, here are the 3 greatest options to use the money to make money: expand the business, purchase inventory and purchase equipment.

We’ll work with you to make sure you can obtain all the elements you need to make the new addition a profitable move for your business. That’s why we pair every business owner with a loan specialist, so you get the right-sized financing for your needs!

Call Ralph Abbott at 614-339-4255 ext 2 or email me at [email protected] to determine if your business is ready to have your money make money.