In today’s world, running a small business has a set of unique challenges and obstacles to overcome. Of course, in the same way, there are also many new opportunities that small business owners can take full advantage of in order to increase their sales, enhance their brand’s strength, and grow a successful following. But how can you do these things without the proper forms of funding in place?
This is where small business loans come into the picture.
Even if you have brilliant ideas for the direction of your business, they’re meaningless without the necessary finances put into place. That’s why we’ve put this list together describing just a few of the many ways a small business loan can help you improve your business this year.
Small business loans give you more flexibility
When you’re running a small business, the last thing you want is to feel stuck, crippled, or unable to enact your visions due to a lack of funding. At the very least a small business loan, such as those found with SBA 504 loans, can free you up to pursue the projects and clients that you’ve always dreamed of.
Sure, starting out with little to no capital can seem scary, and sometimes taking out a small business loan can make things seem that much more dramatic in light of recent events. However, when you put the proper funds behind your ideas, they are far more likely to gain traction both in the local marketplace and beyond. You may not have access to all the things you need at first, but the right small business loan can put some fuel in your engines so you can begin to pursue the proper outlets on your way towards growth, evolution, and long-term success in your market.
Small business loans can improve your marketing efforts
Speaking of marketing, there’s certainly no doubt that small businesses in the modern world have a whole host of marketing options at their disposal. After all, were you even aware of the fact that according to recent data, nearly 50% of small businesses spend $10,000 or less on digital marketing each year? These numbers are sure to represent some portion of your budget when marketing a small business.
With everything from email lists to social media posts to ad campaigns on popular search engines, the world of online marketing has opened a vast palette of options for the ambitious small business, regardless of their size, scope, or industry. But many of these marketing options, as you probably know, cost some sizable funds to get started. A small business loan such as SBA 504 loans can give you a much-needed boost when marketing your products and getting your name out there, whether on the internet or in your local space.
Some businesses find it helpful to apply for SBA 504 loans right away so that they can use a portion of their funds to hit the ground running with their marketing. Other businesses may prefer to develop their products first then begin running targeted ads once funds are obtained. Regardless of your approach, the right loan can supercharge your marketing efforts if used in the correct way.
Specific loans such as SBA 504 loans can give you the leverage you need to obtain assets and accelerate expansion
Finally, you probably are wondering how you’re supposed to expand your small business when you’re just starting out. In fact, even many small businesses with some history and a strong client base have struggles when trying to scale up. Small business loans such as SBA 504 loans can give you the leverage you need to obtain valuable assets for your business that enable you to effectively grow without becoming too overstretched or bloated in the financial department. Sure, starting a small business is great, but being able to evolve is equally important. A small business loan can enable you to do just that.
If you are thinking about an SBA 504 loan, have questions about small business lending services, or simply have some questions, contact our Small Business Assistance Team of Brent Ekstrom, Matt Burthold, and Tracy Whitney today.
No matter how large or small your needs may happen to be, we’re here to help you take your business to the next level.