If you have a business, or are thinking about starting one, you are embarking into uncharted personal territory. Running a business is a scary thing for anybody. That’s especially true if you want to expand your operation. Expansion requires you to step out into somewhat-unknown territory, making a lot of the decisions you made right when you opened up your doors. But growth is natural and necessary. It’s what keeps a lot of our doors open. If you can’t have a viable business without growth, you’ll likely want to take out a loan from a company like Everline. Loans like these are issued at competitive rates, to help ensure that you start to see the benefit of this financial decision even before you have to start paying it back. If you still need some convincing, here’s why I think it’s a good idea to take out a business loan.
- The Biggest Factor in Your Business’s Survival is Time. ½ of all businesses stay open for 5 years or more. ⅓ of all businesses stay open for 10 years or more. These stats haven’t changed much over time. And they illustrate an important reality for new business owners to consider: While many factors govern the success of your business, simply staying open by any means necessary has a bigger impact on your company’s long term survival than any other factor. Lots of business owners are spooked to take out a loan. But while loans can be a little scary, they are essential to keeping your doors open longer. A loan will help cement changes that can keep your business relevant and innovating, a necessary part of your micro- or macro-economy. Don’t let a fear of debt keep you from securing the funds that will keep you in business.
- Business Loans Are Built to Be Manageable. Business loans are an essential part of our economy. Because the small business private sector employs more citizens than any other market sector, the government does a lot to spur its growth and health. Loan companies are strictly regulated, to ensure that they are providing a service that cultivates health in small businesses, not hamstrings it. Securing funds can have a very motivating effect on the way you run your business. Like getting a mortgage or having a kid in your private life, a business loan can send you the signal “It’s serious now.” So stop treading water. Get the loan that will expand your business and improve your life.
- Business Loans Unlock the Possibilities of Your Business. This is really easy to see on the world’s biggest scale. By securing funding and taking huge risks for years, high-profile business people like Elon Musk went from starting an online payment company, to building rockets, to building cars, to building batteries, to building hyperloops… This is an extreme example that few reading this will aspire to. But it demonstrates how building your company gives you unforeseen opportunities you wouldn’t anticipate if you stayed at the same level.
As you can see, business loans can make all the difference in the way your company grows and survives. Take the steps to secure funding, and watch your business thrive.