cheapest limo Hickory Hills ... Chicago Drug testing

Financing Business Expansion for Your Small Company

How you finance the expansion of your business is important. Borrowing and understanding the consequences of borrowing for your financing is extremely important. If you are going to borrow the money to finance the expansion of your business, you need to make sure that you are not going to get yourself into a cash crunch situation. This is where you are going to have a lot of money coming in from new business completed and invoiced but not have enough current cash flow. When you borrow you will be financing new equipment, locations, signage, or perhaps a new work truck on a credit line, lease or loan payments. The initial payments are going to be due before you get your increased income from the expansion in. This can be a major critical problem and we do not want this to happen to you.

When you finance your business location or expansion, you need to make sure that if you will be borrowing and will have to pay that money back with interest charged on the various loan programs. This is going to cut into your cash flow. You could also charge the equipment on a credit card, which is about the same rate as an equipment business lease. Maybe even a little less believe it or not.

The easiest way to get financing for expanding your business is to go down to your bank and get a loan. But you are not going to be able to get a loan if you have been hiding all the cash from your business, not making any deposits. That is something to think about. So many small entrepreneurs start out on the wrong foot hiding or skimming cash, then when they need to expand they have no proof of income or sales and cannot get qualified for a loan.

Now you may be in a position with your business where you can just pay outright for an additional units, equipment, locations or outlets, if this is the case hats off to you're my friend you are truly in a good position. This is a great position to be in but remember that if you put the money out in cash, you no longer have use of that money for other business needs. But it is a nice position to be in to be able to pay up front as your business grows. Remember though, some business investment assets are easily financed while for the purchase of others it is often easier to pay cash or just write a check.

Pkay then you are all set and have determined that the business needs to expand to take advantage of increased sales opportunity in your market place. So, Where to Get Financing? When financing your business expansion, there are many important factors that can make your task a total nightmare (the loan from hell) or extremely easy and a relative piece of cake. The smartest way to finance your business isn't the easiest. The easy way is to pay for it your self out of savings or use a credit card. Unfortunately if you take money out of savings that was there in case of emergency or for a down payment for your house or something equally important, this may put you in jeopardy later if you need that money.

The SBA would be a nice way to go but it takes a long time for them to approve a loan. If you own a home they want you to put it in the loan as collateral in case you don't pay your loan back. By the time they give you the money your investment opportunity is often lost. That big account you got that would nearly pay for all the new equipment has to be started ASAP. If you finance through the SBA 7(A) program, they will not let the loan term extend beyond the term of your franchise, if you are a franchised outlet. You may also be required to pay that loan off before you get any others

In summary, when doing business with the SBA you will: Pay more as a down payment; Spend more time in the approval phase; Need more collateral; Face shorter repayment terms; Be very aggravated by the whole process.

Approval of Credit for simple business bank loan takes time. If you are trying to get credit from your bank or from an SBA loan or something like that, it takes time. Be prepared to wait anywhere from several days to several weeks for approval. You need to factor this in if you are thinking you want to have a new location or more equipment for your current operations. If you need to expand look at your bottom line, can you afford it? Will your cash flow be able to handle the new debt if you are delayed for any reason from local building regulations, an inopportune lawsuit, competitive changes in the market, downward sector rotation in your industry. Think long and hard about these issues and if you decide to go for it, check all your options, interest rates, pay back periods and do what is best in the short term and the long run.

"Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance;

In The News:

NASA is slated to announce what it says is a "series of firsts" in its Mars 2020 Perseverance rover mission.
A flutter of earthquakes shook Oregon's Mount Hood on Monday. 
SpaceX's Falcon 9 rocket successfully launched 60 new Starlink satellites early Thursday morning.
An ancient Egyptian papyrus version of "Mummification for Dummies" has been revealed by a Danish Egyptologist as the oldest how-to guide yet found.
For the first time in history, astronomers have detected what they've deemed a "space hurricane" in Earth's upper atmosphere.
The asteroid Apophis, nicknamed the "God of Chaos," will pass by Earth on Friday.
Residents of the U.K. were surprised over the weekend when a slow-moving meteor blazed across the night sky.
A massive iceberg, larger than New York City, recently broke off from an ice shelf in Antarctica, according to researchers on Friday. 
The astronauts replaced wings on the port side of the station where the oldest and most degraded solar wings are located.
In a Friday ceremony, NASA officially named their Washington, D.C. Headquarters building after pioneering engineer Mary Winston Jackson.

What is Your MSP?

For many consumers and producers, MSP is an acronym for... Read More

Strategic Planning Consulting

Strategic planning and consulting is the strategy roadmap to manage... Read More

How to Achieve E-commerce Success ?You Gotta Plan!

Before becoming a netpreneaur, I was an entrepreneur. First, I... Read More

The Chasm of Change---- Restructuring ----- The Goliath

Richard L. Daft one of the country's recognized academic leadership... Read More

How To Kick Start Your Business And Double Your Profits

This will make some people angry as hell, but it's... Read More

The Chief Cause of Business Failure & Success

Business rises and falls on leadership. According to business guru,... Read More

Six Key Areas For Evaluating A Strategic Alliance

Strategic alliances are increasing at a rapid rate. It is... Read More

Turning On The Lights

Fun From The StartFor those with the will to start... Read More

Getting Started with Succession Planning: Part I


Breaking the Growth Barriers in the Information Technology and Software Sector

There's nothing automatic about corporate growth, particularly in the information... Read More

Microsoft Great Plains Implementation: Placement/Recruiting Agency example ? overview for consultant

Microsoft Great Plains does wonderful ERP job for horizontal markets... Read More

Action Planning

ACTION PLANNING: Action Planning is a process to develop strategies... Read More

The Power of Strategic Thinking: Creating Meaningful Success

Too much goal setting and strategic planning can leave you... Read More

Hunters and Gatherers - Are You Serving Both Their Needs?

The University of Exeter in the United Kingdom recently published... Read More

Own Your Niche by Building a Niche Community

In 1997, David Steele was making the transition from a... Read More

Building a Better Brick-and-Mortar with the Billion-Dollar Web

More than $117 billion passed hands from Internet shoppers to... Read More

Five Crucial Components of a Business Plan

The format of a Business Plan is something that has... Read More

Top 10 Tips to Create A Business Plan! (For People Who Hate Business Plans)

One of the key challenges for any business is to... Read More

Business Plans Keep You On The Success Course

Where would your business be without a proper plan? A... Read More

Succession Planning for Business - 10 Key Points You Must Know

By cranking up others development to meet your business needs,... Read More

Scheduling of Additional Auto Detailing or Mobile Car Wash Units

If you own a mobile car wash business or auto... Read More

Your Business: Will It Have A Happy Ending?

"Begin with the end in mind," says Stephen Covey in... Read More

Abstract Thought; Business Strategies and Biological Systems

To stop a computer virus you must understand how it... Read More

Cost-cutting Essential to Maintaining Profits

Why cut costs now? Efforts are multiplying to cut costs... Read More

Getting Started with Succession Planning: Part II

Succession planning requires the owner of a small or medium-sized... Read More

add second level to home marengo transitions remodeling ...