The benefits of taking out a small business loan aren’t limited to simply surviving a bout of bad luck and having more money to spend. You will also gain a significant advantage on the competition and protect your business from getting eaten up by larger, more established businesses.
The decision will ultimately put your business on course for a more profitable future in which you won’t have to worry about potentially catastrophic outcomes of essential expenses. Competitors that chose otherwise may be able to take one step forward but not without taking two steps backward in the process.
Here are four ways a small business loan will cement your businesses’ reputation as a consistently reliable source for the best service around:
1. YOU CAN TAKE ON LARGER PROJECTS
The biggest rewards often come from the biggest projects, and completing these projects is never cheap. Say you own an auto repair business, and you need to spend tens of thousands to order custom parts. Or you might need to hire more people to complete an increasing amount of projects by a single deadline. Maintaining your business after spending all this money would be rough without a small business loan, which allows you to dedicate 100% of your focus towards the tasks at hand rather than worry about whether you’ll be able to pay your bills or write your paychecks at the end of the month. The revenue brought in by these projects along with the increase in business you’ll receive will dwarf whatever you’ll owe in return.
2. YOU’LL STAY STRONG THROUGHOUT THE SLOW SEASON
Every business experiences lulls during certain times of the year. Slow seasons typically lead to shortages of available funds, a loss of relevancy, and a delay in preparation for the season to follow. A small business loan, however, will prevent the need to raise prices and purchase less inventory in order to pay rent as well as your employees. You can even buy in bulk to avoid the costly process of buying as you go along, putting you in position to satisfy the upcoming jump in demand. And as many business owners will attest, it’s never safe to risk such a massive loss in cash flow during the slow season since, as luck would have it, this is the time in which businesses tend to run into trouble. Clients of UCS don’t have to worry about paying the loan back right away since their loan terms permit certain businesses to pay them back based on the rate of sales.
3. YOUR LENDER BECOMES A MEMBER OF YOUR TEAM
You’re not just getting some extra cash when you take out a loan with UCS. You’re also getting crucial financial advice to ensure that you’re not caught off-guard anytime soon. Let’s say you know you want to expand or prepare for a rocky few months but you don’t know how. UCS’s experts will tell you exactly how much money you need to accomplish short and long-term goals, how to distribute the funds you’re about to be loaned, and when it’s most cost-efficient to make certain purchases. Rather than just putting a Band-Aid over a crisis, loans issued by UCS are intended to form a relationship that will guide your business to unprecedented heights. You’ll gain a much clearer vision of the future, one that is free of the speed bumps your competitors likely did not anticipate.
4. YOUR CREDIT SCORE WILL SKYROCKET
Paying back a short-term loan on time is an extremely quick way to build up your credit score. At UCS, your credit score can improve dramatically just a few months after you begin making regular payments. This will not only make your business eligible for lower interest rates but also secure a partnership with a specific lender who is well-aware of the obstacles your business will inevitably face as well as your dedication towards paying off debt. These obstacles will likely require a much bigger loan, and if you paid that first one back on time, you’ll likely need even less paperwork to obtain the second. UCS is renowned for distributing loans in a matter of days. Your second loan with UCS could find its way to your bank account in just 24 hours if you have the credibility to earn it.