People who aren’t so sure about small business loans usually weigh out the pros and cons before making a decision. This is arguably the hardest part about taking out a small business loan altogether. Depending on the business lender you are looking to work with, the pros and cons might not be exactly clear. Yes, there are basic factors, like terms, repayment systems and revenue projections. But if you choose a company like United Capital Source, your “pros” will stretch far beyond stronger cash flow. You see, unlike traditional business lenders, one of our top priorities is making your life less stressful. We can remove obstacles you’ve probably gotten so used to that you aren’t even aware they exist.
Here are 4 overlooked benefits of taking out a small business loan with a company like UCS:
1. Getting Your Expenses In Order
It’s very easy to lose track of your many expenses and become disorganized. But you can’t pay back a business loan if you aren’t on top of your finances. In order to develop a payment system that has minimal impact on cash flow, we have to figure out exactly how much money you are spending each month, how much you should be spending each month, when certain bills are due, etc. Nothing that affects your finances can go ignored. We understand how busy you are and how much of a headache this process can be. But, wouldn’t you feel a lot better if you weren’t doing it alone? Wouldn’t it be better if an expert was making sure you were taking everything that matters into account?
Our small business loans require a small list of financial documents. But these documents require you to take a deep look into your business’s financial health. Not, this isn’t fun but the more time you dedicate to this specific stage of the journey, the easier it will be to pay off your small business loan. After approval, you will be connected with a business funding expert who will help you create and maintain a sensible budget. Never again will a question related to your finances trigger the answer “I don’t know.”
2. Creating A Financial Schedule
Many business owners know what they need to do to grow their businesses but aren’t sure about timing. Expenses and/or investments get put on the back burner. They want to wait until the time is right. But for business owners who are constantly buried in expenses , it never seems like the right time to do anything. There is always a reason not to act. There is always something more important than what needs to be done. You tell yourself that your finances will be in better shape next month or in two more months, but your reluctance refuses to fade
Traditional business lenders are usually not concerned about your future. They don’t care what happens to your business after you make your final payment. Companies like United Capital Source, however, do not succeed unless their clients achieve sustainable, long-term growth. So, after compiling all of your upcoming expenses and/or investments, we will create a schedule that tells you how much you should spend each month. We will tell you when the time is right to conserve cash or move forward with different growth initiatives like hiring, marketing, or product development.
3. Eliminating Anything That Is Holding You Back
Traditional business term loans are made for major investments. You borrow money solely to make a lot more money. At United Capital Source, we offer numerous small business loans designed to clear up whatever is restricting your cash flow or spending power. That could be old equipment or an insufficiently small team. But it could also be outstanding debt, poor credit history, or receivables that are yet to come in. If it is holding you back from strengthening cash flow, it is most likely worthy of a small business loan. Eliminating one such obstacle might increase revenue right away or over the next few months. Either way, we can structure your terms so that you make your largest payments when revenue has seen the biggest improvement.
4. Learning The Ropes Now, Not Later
United Capital Source’s business loans are much more accessible than those from our main competitors. You do not have to display perfect credit or revenue in order to be approved. The business loan we recommend for you might not be the loan of your dreams. But rather than waiting for your credit or revenue to meet the standards of your bank, you get your first crack at debt financing right now. You can learn how to make consistent payments while trimming expenses and protecting cash flow. These skills are essential for business growth. And since the amount is lower, so is the risk.
You could even think of your first business loan with UCS as practice for a second, larger loan you will need down the line. When that time comes, you’ll be grateful that you know how to avoid common mistakes. The earlier you learn how to pay off a small business loan, the earlier you grow as a business owner.