Table of Contents
Asset buildingSay you are a business owner growing a home bakery. Because your breads and pastries taste better than what your competitors make, everyone falls for it. You get a higher and higher sales volume day by day. Meanwhile, the number of ovens you have can’t accommodate the amount of customer orders you are getting. Soon enough you won’t be able to get orders ready by the scheduled time and your once happy customers will start grumbling. But what if the current profits you are earning aren’t enough to purchase new ovens? Long-term, new ovens are assets that will greatly assist your business. But you can’t afford them this moment. This is a good time to apply for a loan. With a loan, you can buy new ovens and maintain high-quality products to deliver to your customers.
Business expansionAfter growing your business for several months, you see potential to expand and gain more customers. One of the key strategies of expansion is by building new outlets and channels in more areas. Entering a new area or a new market requires money. To succeed, you also need to introduce and promote your products to new customers. Again, maybe the profits you’ve earned so far can’t afford a campaign for business expansion. In this instance, it may be prudent to apply for a loan.
Cash flow maintenanceAs a business owner, especially of a small enterprise, a well-run and healthy cash flow might just be the most important element of business growth. You have to consistently manage your cash flow well. When company cash flow is stuck, your business will face a problem as well. Companies, especially small businesses, often encounter cash flow problems when their customers pay their invoices late. Late payments make it difficult for businesses to pay operational fees, such as employee salary, electricity, water, rent, etc. You might need a quick loan to tide you over until your customers pay their bills. Financing products like invoice financing can be the answer to such a situation.
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