Opportunity for growth and a need for better cash flow are two signs you’re ready for a business loan.

When building a business, borrowing money can help you get to the next level. However, it can be difficult to know when to talk to a lender. Here are some signs you’re ready for a business loan.

You have opportunities to grow

When you find yourself turning away business because you’re at capacity, there’s an opportunity for growth. Fostering that growth will require financial resources. Perhaps you need more equipment, a larger space or an additional location. Whatever you require, a business loan can support expansion that wouldn’t be possible without an infusion of cash.

Another growth sign that you’re ready for a business loan is that you have a plan to expand your customer base or enter new markets. A business loan can help you scale up.

You want to better manage cash flow

Even in thriving businesses it’s not uncommon to have gaps in cash flow. This can happen for lots of reasons, including landing a new customer, needing to build up inventory in preparation for your busy season or a lag between sending invoices and when you actually get paid.

En muchos casos, un linea de credito comercial provides a way to bridge cash flow gaps. It’s a revolving line of credit that allows you to use what you need, as you need it. And as the principal is repaid, you can re-borrow up to your credit limit without the need to reapply for a new loan.

When to apply for a business loan

The time to seek a business loan is not when you’re in a cash crunch or just about to launch an initiative. Consider applying for a business loan antes you need it. In addition to avoiding the pressure of getting financing at the last minute, you’ll have solid information for making the decisions that will drive your growth and help manage cash flow.

Consumers is a lender who understands the needs of local businesses like yours. Our commercial lending officers can help you with everything from SBA loans and commercial real estate mortgages to equipment loans and lines of credit. See what’s need to apply for business loan in our free white paper.

 

Todos los préstamos están sujetos a aprobación. Las tasas, los términos y las condiciones están sujetos a cambios y pueden variar según la solvencia crediticia, las calificaciones y las condiciones de la garantía.