Aren’t you glad you got out of that 9 to 5 corporate rat race and have now started a small business you love?
It doesn’t matter if you’re selling a product or providing a new, unique service if it’s close to your heart, you can’t go wrong with it. Sure, there will be some tough decisions to make as your business goes through its peaks and valleys, but if you had the courage to start a business, you’ll always get through.
One of the many problems you might face is the lack of money to invest in your business. You’ll always need to spend money if you want to grow. I have learned that, when most entrepreneurs go through this problem, they get a small business loan from Camino Financial.
What’s a small business loan?
It is, in essence, a loan provided particularly to small business owners and entrepreneurs by banks, financial outfits, and lending companies. They generally don’t have too many restrictions, which makes them perfect for business people to secure funds quickly. Depending on the loan provider, the amount of the loan could range from a low of $5000 to a high of $400,000.
What do I need a one for?
Let’s face it. While it’s great running your own business, you’re sure to run into some steep competition (all businesses have them). And it doesn’t matter if they admit it or not, your competitors will try to take you down.
A small business loan could help you get a strong competitive edge and keep your business ahead at the game through:
- Advertising and promotions – If your competition is doing little or no advertising and promotions, a small business loan could fund a well-thought-of, strategically persuasive ad campaign that will make clients and customers think of you first when they need the kind of product or service you’re offering.
- Hiring and training of Personnel – If your competition’s customer base is dissatisfied with their customer service, you can use a small business loan to cover the costs of having your staff undergo training. Top-notch customer service or will always be something clients go for.
- Purchasing more efficient equipment – Perhaps your equipment is not as rosy as it once was, or maybe it doesn’t meet your demands. There’s nothing worse than your service becoming slow or clumsy because of some faulty equipment. Get a loan and buy more efficient, more productive machines to improve your customer service.
Many others have reaped the benefits of loans
Here’s how 2 entrepreneurs smartly used a small business loan to start and grow a business:
Racing through the highway
Oscar Moreno is a Mechanical Engineering graduate who goes nuts over those classy, powerful, high-end Audis, Porsches and BMWs. He knows that his co-enthusiasts are always very strict on what expert repair shop they take them when something goes wrong with their cars.
So Oscar decided to put up one, specializing in the service and maintenance of these expensive road demons. Soon he’s doing great business and building a good reputation.
He noticed that he could improve his revenues if he had a hydraulic car lifter that’ll make the servicing easier and faster. But he didn’t have enough money on hand to buy the lifter.
He researched online, found a small business loan with a financing group, bought the lifter and is today servicing more of these expensive, beautiful cars.
From old house to beautiful dormitory
Widowed at 59, Isabel Gomez, of Tampa, Florida, was concerned about how she was going to get through her twilight years. Her two children were married and starting their own lives in LA, and she had always been an independent woman, so she didn’t want to burden them with having to help her.
She decided to take the bull by the horns and find a way to help herself.
She had his late husband’s insurance money, some savings and a big but old rundown house just a few blocks from the state university. She thought that if she could transform the house into a small student dormitory for girls and charge each $200 — $250 a month, she’d have extra money that’ll take care of her personal needs.
Referred by an old friend, she went to a lending establishment, where she applied for a small business loan. She got approved and used the funds to hire craftsmen to give the house a makeover and to file all necessary requirements.
After posting a large sign in front and spreading the word around that the renovated house is open to taking in students away from home, she couldn’t believe the remarkable response.
Today, she’s enjoying the extra income.
You too can make a small business loan work well for your business.
Either for renovation, relocation or for whatever purpose that will keep your business running better and bringing in more revenues, you can reach out to a financing institution for help.
A brighter future is out there waiting for you. Don’t make it wait too long.