Metal manufacturing companies must consistently replace and repair equipment in order to stay competitive. The companies that are able to accomplish both tasks with the most speed and for the most sensible costs have a distinct advantage. They can keep up with surges in demand and continuously take on new business.
Speed is particularly important in terms of testing, researching and manufacturing products. When you have the resources to produce an increasing amount of options to choose from, there is a higher likelihood of customer satisfaction. In most cases, this comes down to having skilled, trained operators and the right equipment. Every metal manufacturing company either needs new equipment now or will need it in the near future. All machines have lifespans, which often turn out to be shorter than expected following the release of more advanced models.
Sometimes, a new machine will be released that is capable of making new products. The cost will likely be significantly higher than previous models even though the company’s revenue remains the same. Many companies solve this dilemma by leasing the machinery, which ends up costing them more money than buying.
United Capital Source has many years of experience providing Small Business Loans for Metal Manufacturing Companies. We can provide all types of business lending products. Contact us today for your FREE business funding consultation!
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Hire More StaffUnited Capital Source offers numerous business loans geared towards the various different financing needs of metal manufacturing companies. Popular functions include upgrading machines, purchasing equipment, investing in new technology, or increasing staff. But our business loans don’t necessarily have to be used for revenue-generating activities. We’ve worked with metal manufacturing clients that were looking to cover an emergency, consolidate other debts or pay taxes without impacting cash flow.
One of our specialties is providing the means to make large purchases with a single, upfront payment. Unlike the fixed payments of a lease, we can develop a payment structure that accounts for upcoming fluctuations in revenue.
Speaking of fluctuations, working capital loans are typically best for neutralizing sudden changes in demand or increases in operational costs. A business term loan, on the other hand, might be better for financing resources related to larger projects that have several phases: research, development, and completion. Borrowing amounts and terms are based on the number of months or even years that will go by before a return on investment (ROI) is produced.
A business line of credit is similar to a standard working capital loan but better suited for companies that regular deal with unforeseen expenses. Planning for the unexpected is a crucial part of running a manufacturing company. With a business line of credit, you have a safety net that can be accessed at any time as long as you consistently pay off the balance.
For some business loans, the application and repayment processes are tailored for excessively busy borrowers. We are well-aware that, much like an auto shop, owners of metal manufacturing companies split their time between the shop floor and the office. They don’t have time to navigate confusing terms or wait four days to have a question answered. Rest assured: Your partnership with UCS will only make your day-to-day routine less stressful and never take you away from your most important responsibilities. Apply now to see how much you qualify for!
For most metal manufacturing companies, growth is not produced by a single, massive investment or jump in demand. It is a gradual process with many stages, almost like a giant to-do list. The business must consistently acquire new resources and implement new strategies to improve efficiency and stabilize cash flow. This doesn’t just happen overnight, […]
Once you have established the need for a small business loan, the next step is figuring out what type of small business loan would work best for you. This doesn’t just refer to choosing between different business funding programs like a business line of credit, merchant cash advance, or SBA Loan. The potential borrower must […]
