Borrow Now !

Here Are Reasons to Borrow Now

1. You Receive a Larger Than Anticipated Tax Bill

Depending upon your type of business, your company may be required pay?state and federal taxes?in smaller increments throughout the year. Yet sometimes things can go wrong, and your business might find itself faced with a high tax bill from the federal government.?

The truth is that it may be cheaper to finance your debt through a lender versus paying interest and penalties to the IRS when your business owes an outstanding tax obligation. Additionally, by borrowing money to pay your tax obligation, you might be able to avoid having a tax lien placed against your company (and hurting your business credit in the process).

2. You Need Equipment or Inventory

Depending upon the type of industry, your company will need specific equipment or inventory to make money. Unfortunately, covering those upfront costs can be a . A business loan can help you to acquire (or upgrade) the equipment and inventory your company needs to stay relevant and ahead of the competition.?

2. The Potential Profit Outweighs the Investment

Unfortunately, you probably don’t have a crystal ball tucked away inside one of your desk drawers. Instead, you’ll have to rely on research, your experience, and advice to decide whether an investment opportunity is outweighs the costs and risks of borrowing.

If your research (and your gut) tells you that the potential profit from an investment outweighs the risks, borrowing money to take advantage of an opportunity might pay off for you and your company in big ways.

3. You Want to Expand

Deciding to expand can be an exciting part of any business’ journey. Of course, opening new locations, hiring additional team members, or launching new web-based products typically requires an upfront investment.

Many business owners borrow to help make these types of transitions easier to execute and manage.

4. The Potential Profit Outweighs the Investment

Unfortunately, you probably don’t have a crystal ball tucked away inside one of your desk drawers. Instead, you’ll have to rely on research, your experience, and advice to decide whether an investment opportunity is outweighs the costs and risks of borrowing.

If your research (and your gut) tells you that the potential profit from an investment outweighs the risks, borrowing money to take advantage of an opportunity might pay off for you and your company in big ways.

5: You Can Refinance and Save Money

Does your company already owe high-interest debts on credit cards or loans? If so, consolidating those debts into a new, lower-interest account might save you a bundle.

When your credit improves or better financing options become available for other reasons, it can make sense to take out a new loan if the rates and terms will save you money.

6. When to Wait

Depending on your personality, taking a chance to grow your company may be either exciting or terrifying. Yet regardless of whether you’re a natural-born risk taker or a slow-and-steady style business owner, there are a few warning signs that taking on business debt might not be the best fit right now.

7. You have credit problems.

Having bad credit doesn’t mean that you can’t borrow money. There are lenders with products designed for people with less-than-stellar credit. Unfortunately, those?bad credit business financing?options are typically more expensive.

If you have bad credit, you might be better off waiting to borrow money for your business. By working hard to?improve your credit?first, there’s a chance you could secure a more affordable loan for your company with better interest rates and terms in the future.

8.?Need The Money Now

Is your business struggling to make ends meet? If so, you should exercise caution before taking on any new debt.There may be times when it makes sense to borrow money anyway, especially if you anticipate a financial improvement or seasonal income boost.

9. Where to Borrow

Before you apply for business financing, you should always weigh the risks and make sure borrowing is the right choice for your company. It's also helpful to get free 20 minute consultation with our Bigglone's Loan Consultant at your convenience, CLICK HERE to make an appointment. It’s also helpful to get a pre approval CLICK HERE