There are key signs to look for in your business that tell you the company needs an injection of cash. Your company will always benefit from having more finance, but when is it time to apply for a loan? If you don’t need urgent capital, your business is probably in a good place. But there are always times when opportunity presents itself and having additional funds is an advantage.

  1. Everything is Cramped

If your operations are booming and there isn’t enough space in the office or warehouse, you probably need to relocate to a bigger building or invest in a property. If you are thinking about getting a short-term loan off an alternative lender, you can get in touch with Universal Finance to discuss your options. Many lenders have loans that are designed to help SME’s grow.

  1. Expansion

Growing your business doesn’t always have to be about moving to a bigger factory or adding a new location. Sometimes you have the right amount of space, but you cannot keep up with demand. The warehouse is constantly running low on stock and there are too many orders coming in the door. You can apply for a line of credit or a business loan to help you take the next step forward. If you need more inventory, additional employees, or new machinery, consider a business loan to grow your enterprise.

  1. Plan for the Off-Season

The best time to apply for a business loan is when you’ve just come off a profitable period, the lender will look at you more favourably. If you are a seasonal business owner, think about the future and apply for a loan when you don’t urgently need one.

  1. Opportunities

An opportunity has come knocking that you cannot afford to ignore. There comes a time in every business when something comes along that requires an investment. If you need to purchase new equipment or buy a new property at a reduced rate, a business loan or line of credit can help. Don’t let a golden opportunity pass because you’ve no finance.

A business can always benefit from having a little extra cash. But there are times when you should notice a cash injection would greatly benefit your business. Many opportunities present themselves and business owners miss out because they don’t have any finance. If you recognise one of the scenarios above, consider applying for a business loan or line of credit.