Considering a Small Business Loan?
Top ideas for how to use the additional cash
Realizing your goals as a small business owner may require a cash injection in the form of a working capital loan, line of credit, or Flex Pay loan. Even small amounts of funding can take your business to a whole new level. Whether you’re embarking on a new endeavor or looking for ways to increase revenue at your current business, here are some great ideas on how to allocate that additional cash.
Refinance Your Debt
When you opened your small business, it’s possible you had to take out some big-time loans. Perhaps you had investors, or maybe you borrowed money from family and friends to get up and running. Consolidating your debt—especially with a loan that offers low, fixed weekly payments and the flexibility to defer up to 50% of your loan principal—is an ideal way to reduce the amount you are indebted to others. Refinancing may also help you save money, giving you the freedom to focus on your business rather than your debt. ARF Financial’s popular Flex Pay loan even has an early pay-off option that’s designed to minimize your costs in interest.
There is a lot to be said for buying in bulk—especially if you can nail down a discount for doing so. A lot of retailers that rely on inventory, such as clothing or food items, tend to stock up on inventory at the most opportune times. Vendors may be having a sale, or maybe you need to jump on an opportunity to stock a new product. Whatever the case, this is where a line of credit comes in handy. This type of financing allows you to pull funds from your line as soon as the need arises. Plus, you only have to pay interest on the amount you draw. ARF Financial also gives you 24-hour access to 5 separate loan drafts over a 6-month period, and you can request funds online as well.
Shine a Light on Marketing
You might have a great marketing strategy in place already, or perhaps you’re just getting started. Regardless of where your marketing stands, there’s always room for improvements that will increase ROI. Tactics that may seem simple—such as optimizing your website for SEO or investing in social media—can have a huge payoff. If your marketing needs some serious TLC, consider bringing on a marketing consultant who can analyze your current strategy and data and make recommendations to really bump up your numbers.
When you’re considering a small business loan, turn to the experts at ARF Financial. It is our number one priority to understand your business goals and financing needs, and work to personalize a loan solution that will help you reach your fullest potential—with clear terms and fixed payments. Ready to get started? Apply today!