If your small business has been experiencing steady sales over multiple quarters and you have many happy customers it may be time to think about expansion opportunities such as:
Before you dive in head first and start investing in an expansion project, it’s important to first work on a profit plan to ensure your project leads to growth. You don’t want to put money into expansion only to find out later that it was a bad idea.
Your profit plan will set out your strategies for both short and long term growth. Such strategies will cover: pricing, marketing, facilities and personnel. By creating a thorough profit plan you will prepare for the costs associated with your expansion.
Creating a profit plan is an important step because it allows you to be cost conscious when planning for your expansion. Once you have a good idea of what your expenditures and upfront fees will be, you’ll be able to forecast your future profits more accurately.
If you’re beginning to get cold feet about expanding because of the upfront costs you are not alone. This is a major obstacle for most small business owners, but it doesn’t have to be a complete roadblock.
By obtaining a short-term Working Capital Loan you can finance the expansion of your company without hurting your cash flow or digging into your personal bank account. Here at ARF Financial we work with a network of FDIC insured community banks to help small business owners obtain working capital loans without having to put any collateral down.
Here are a few stories from business owners we’ve recently worked with:
A business owner was looking for a large sum of capital for a remodeling and expansion project. The cash advance companies he contacted could not offer the total amount needed. They would only base the advance on his credit card sales, not his total sales. ARF Financial was able to help him obtain a $125,000 loan with an 18-month term. Obtaining the entire loan amount at a longer term allowed the business owner to finish his project without hurting cash flow.
Another business owner needed $75K to conduct renovations after-hours. After receiving a working capital loan through ARF Financial she was able to complete her renovations in under a month. Those renovations helped her increase sales by over $900,000 in just one year!
A third restaurant owner was losing business due to long wait times. To fix this he needed to quickly add a bar area and secure a 3-way liquor license. ARF Financial was able to help the restaurant owner obtain the financing he needed within a few business days of receiving the loan application. Soon after the restuarant was featured on Diners, Drive-Ins and Dives!
If you’re ready to speak with a business consultant about obtaining a working capital loan to finance your expansion, please contact ARF Financial today. When you obtain a business loan through our network, you enjoy the following benefits:
Use our free loan calculator today to see how much you qualify for!