Having access to additional capital is crucial for business growth and often can be a major factor in determining how fast you can scale. You might need to get extra inventory for a busy season or to upgrade equipment in your operation. It’s a nice feeling knowing that if you wanted to, you can access more funds.
Not all businesses are equal, however, and the financial situations of each will vary from industry to industry and business to business. Those businesses that have a great business credit history and high sales volume are able to get cheaper capital because they are less risky and are seen as ‘healthy businesses”. A business with lower monthly sales and perhaps a history of missing payments to their suppliers will typically get access to more expensive capital because they are considered to be riskier for lenders to lend money to. So how do you make sense of it all? In this article, we will highlight some of the ways Smarter Loans makes it simple for business owners to make their decisions.