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Business Funding

Why businesses seek extra funding: 

Business grants and loans can be used for a variety of reasons, including buying equipment, recruit new employees, or even re-finance current debts to decrease your monthly expenses.

Financial Backing: Funding is a critical component of every company’s performance, and a lack of it can have a big influence on your team’s ability to grow. In order to create adequate operating cash to meet their growth objectives, many businesses decide to seek outside financing. A loan can help a company meet its short-term funding needs and acquire tools they need to reach their monthly or yearly targets. It can also assist in closing the gap between customer demand and vendor payouts.

Additional funding could also help your business leverage off new opportunities by investing in new items or services that will help you grow. Business loans can be a great ‘cushion’ for your business if you need a little additional cash – you’ll know your day-to-day operating costs are covered by the loan, so you’ll have the funds to handle any unforeseen costs. Seasonal businesses may benefit from working capital finance to pay basic needs during their slower seasons.

 

Asset Acquisition: Purchasing assets such as new machinery or vehicles is often required to expand your business and increase sales. While you may have enough cash to fulfill your company’s working capital needs, you may need a loan to support the purchase of new assets to help your company grow. A business loan is an excellent approach to spread the costs of purchasing a costly new asset. 

 

Restructuring of debt: If you need to reorganize your company’s debt, a loan that consolidates your debt and lowers your charges can help you get your finances under control. A loan to restructure your existing debt can simplify financial planning by reducing the number of monthly repayments you must track, as well as potentially lowering your total monthly repayments. By freeing up cash for working capital and expansion, refinancing your existing corporate debt can help your firm grow.

 

There are countless reasons to seek business funding, and our goal at GroWise is simple, to get your business funded and growing… fast. 

Click here to have one of our team members contact you.

Click here to apply for funding for your business.

 

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