Expanding your small business ensures you’ll stay competitive. A recent survey revealed that 82 percent of small businesses fail due to lack of capital, and 55 percent of small business owners cite cash flow as the number one challenge to growing their businesses.
Whether you need to refinance existing debt, purchase equipment, lease or buy new space or hire a new employee, a small business loan to expand your business can help position you for long-term success.
Let Connect2Capital match you with a small business lender that can help you obtain a loan to grow your business.
Traditional banks offer small business loans to help grow your business. Credit requirements may be more stringent than other lenders, and collateral may be necessary to obtain the amount you need for small business expansion.
A Small Business Administration (SBA) 7(a) loan is a flexible option for business expansion. These small business loans are term loans – with amounts ranging from $50,000 to $5 million – that can be used for commercial real estate, business acquisition, equipment, working capital, debt refinancing and more.
With low rates and a ten-year repayment term, an SBA 7(a) loan can help with expansion, large purchases, real estate acquisition and many other growth-oriented expenses. Connect2Capital can help match you with an SBA lender that makes SBA 7(a) small business loans.
Learn more about other types of small business loans for business growth.
You can use your small business loan to buy new equipment, invest in technology, hire employees and even open a new location. A small business loan to grow your business can also help improve cash flow by paying suppliers early, increasing sales volume and buying bulk inventory.
Learn more about how you can use your small business loan to grow your business.
Some small business owners wait too long to expand; by then, it may be too late. Failing to deliver on growth demands can mean the end of your business. Fortunately, there is capital available for business expansion.
With the right loan to expand your small business, you’ll put your business on a path for future growth and success. However, growth requires more than money; a successful, sustainable business growth strategy – coupled with the right amount of capital at the right time – is highly recommended.
On Connect2Capital, you can quickly know in five minutes if you are eligible for small business financing through one of our lending partners.