Growth loans for small businesses
Funding to grow your business
Growth loans for small businesses
It costs money to make money. This is a well-known saying in the business world. And most business owners know that to grow, you often need to spend money. This could be expanding stock, investing in development, staff, marketing and the like.
Pay attention: Growth also puts pressure on business
Growth is basically good, but it is also very expensive, to say the least. In a growth phase you often experience increased costs, as you often want more money tied up in, for example, a larger stock, more salaries, suppliers, development. Essentially, costs that the company has already incurred before sales have started and have produced a return. In a growth phase, it is therefore essential that business owners have control over the cash flow of the business - that is, the funds available to the business to pay bills in the present. For smaller businesses in particular, it can be beneficial and strengthen cash flow to allow customers to pay upfront, or possibly to split payment into instalments for customers, so that the business has received part of the payment before delivery of the product.
Good advice: Don't forget to have a buffer that can keep the business running until the returns are in the account.
You can illustrate this by looking at a transport company, for example. To increase turnover, it might buy another truck and hire a driver. But if you only hire one driver, and rather than buying a new truck, you instead run longer with the trucks you already have by, for example, running in the evenings and on weekends, you don't increase costs as much, but your profits will be higher.
Good advice: Keep costs down and make sure you get the most out of your investments.
How to get funding to grow your business
All businesses were once small. And at Qred, our primary mission is to help both small and start-up businesses grow. Does your business have a financing need related to a desire for growth? Contact our case managers on 89 87 10 06 today and find out how we can help your business.
When do you need a growth loan?
Our growth loans are suitable for a variety of needs. You decide how your business spends the money, but there are a number of common needs.
- Investment in marketing
- Purchase of tools and machinery
- Recruitment and training of staff
Does your business need a growth loan? We help businesses grow. The application takes one minute and we disburse the money the same day you approve our loan offer.