Apply Small Business Loan Funding to Grow Your Business


Jeffrey Bumbales

There are 27.9 million small businesses in the U.S., which account for roughly 64 percent of all jobs nationwide. Small businesses comprise an integral aspect of our economy, and yet many aspiring entrepreneurs are anxious about launching a company due to the tremendous risk it entails.

To operate a successful small business, entrepreneurs rely on consistent capital. Over 50 percent of small businesses don’t make it past their first five years, and the primary factor in business failure is lack of sufficient investment funds.

Benefits of Small Business Loans And Financing

If you wish to give your business the highest chance of success, ample capital is imperative. With proper funding and working capital, you can launch and grow your company, properly support daily operations, and substantially improve your chances of success. Some of the ways funding can benefit your business are:

  • Enhancing your marketing campaign, enabling you to reach a wider demographic of consumers and increase existing clientele.
  • Investing in prime real estate in order to drive more traffic to your store.
  • Investing in the most in-demand inventory and keeping your shelves perpetually stocked to cater to growing consumer demands.
  • Maintaining an aesthetic and well-maintained storefront that is attractive and inviting to consumers.
  • Investing in necessary equipment, machinery, and vehicles to improve productivity and increase earnings.
  • Expanding your operation and opening new storefronts as needed.
  • Hiring and training a talented crew of dedicated and qualified staff.

The aforementioned qualities are all critical aspects of operating a thriving business. If any of these categories falter, your revenue will inevitably decline.

By having ample startup capital at your fingertips, you can ensure you always invest in the most critical aspects of your business and provide your clientele with a superior level of service and professionalism.

The Pros and Cons of Business Loans

Prior to applying for a small business loan, it’s essential to consider the various pros and cons of every available option. There are countless loan options available, each with their own set of rules and regulations. Some initial questions to ask yourself are:

How much funding is needed?

Some funding options, like cash advances and microloans, are specifically geared toward providing small sums of money to cover routine expenses. Other loan options, like commercial loans and private equity, can be used for large expenses and startup costs. By considering the amount of funding needed, you can better ascertain the most appropriate funding option for your business.

What will the funding be used for?

If you intend to use the money for a specific goal, such as acquiring needed equipment or real estate, there are specific loans available to help you achieve these aims. Also, consider the flexibility you desire from a loan. While some loan options enable you to have total freedom over your spending, others require you to establish how the money will be used and provide documentation demonstrating it was spent accordingly. With some funding options, like business credit cards and cash advances, you can apply small business loan to any aspect of your venture, providing you total flexibility of spending.

How soon can you repay the money back?

There are both short-term and long-term loans, varying from as little as 2 weeks to as much as 15 years. Consider how quickly you’ll be able to generate the necessary returns in order to repay the money lent.

What are your qualifications as an applicant?

Commercial loans often have strict application processes, and many business owners may not qualify. Other funding options, like business cash advances and secured lines of credit, are more accessible to the average entrepreneur.

In order to invest in the future of your company, you need to rely on business funding to meet your current and future goals. With the right funding you can purchase the hottest new product lines, hire the most talented help, and provide consumers with a superior level of service and satisfaction.

Investing in your company today can enable you to generate much greater returns later on, enabling you to perpetually strengthen and grow your business. If you’re trying to gain access to the funding your business needs, Credibly can help.

To get started, contact us directly or fill out our online pre-qualification request form.