Common Situations That Require a Fast Small Business Loan
Every business owner comes across unanticipated expenses while running their company. That's life. The key is to be prepared to handle these situations in a timely manner with a working capital loan.
1. Opportunities for growth
A great opportunity to grow your business has bubbled up. What do you do now? You can either pass up on it due to lack of resources -- or you can capitalize on the opportunity by raising a round of funding. Our network of lenders love to help small business owners achieve their growth goals by providing the financing they need.
2. Equipment repairs and upgrades
Every piece of equipment has a limited lifespan. When a crucial part of your business breaks down or ages, repairs and upgrades become a necessity. An equipment loan from Clarify can make these purchases affordable for every business owner.
3. Material purchases to fulfill a large order
You just got a large order that needs to be fulfilled. The cost to purchase materials for a large client can sometimes be above your current cash reverses. A term loan or business line of credit can provide the money to make it possible.
4. Manage seasonal gaps in cash flow
Industries like retail, manufacturing, and transportation have seasonal trends that can hamper cash flow in some months. You can either scale down your team and expenses, which is not realistic to do each year, or you can bridge the gap with a quick business loan. A short term loan gets your company back on track to succeed when the seasonal downtrend passes.
5. Hiring more skilled employees to keep up with demand
As the demand for your products and services grow, scaling your team with more skilled workers is crucial. Hiring and training employees come with added overhead to your bottom line. Use the capital raised from a quick business loan to hire top-notch employees.
6. Increasing advertising and marketing spend
Word of mouth and referrals are great to get a business started, but real growth comes from advertising and marketing. Invest in trying out different marketing channels to find ones that are ROI positive. Advertising in the right places is what sets high growth rate businesses apart from small operations.
7. Coronavirus costs
The pandemic has affected numerous businesses across the country. If your company has taken a financial hit as a result of COVID-19, we’ve got you covered. Funds can be allocated towards PPE costs and to help bridge cash flow gaps caused by a decline in sales.