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The Lendified Blog

 

Get Lendified: 3 Reasons To Get a Small Business Loan

Small business loans can help with cash flow, and help to tide you over when times are tough by offering access to short-term finance. Responsible borrowing from alternative lenders can also be a great way to grow your business.

Alternative lending, particularly online lenders like Lendified, can help get small businesses the funds they need quickly and without a lot of hassle – so small business owners can focus on running their business (and not running to and from the bank.).

We talk to Canadian small business owners every day and find that the need for capital can often be boiled down to one of three things:

  1. Opportunity

When opportunity knocks, entrepreneurs are often eager to answer. But without the proper resources in place, you might end up biting off more than you can chew. This is where a fast, online loan can be a game-changer.

  1. Crisis

It’s hard to plan for life’s unexpected “detours.” Perhaps the espresso machine has broken down just before the busy weekend, or a key piece of technology in your business needs to be replaced. Whatever the problem, a small business loan might be the answer to quickly get you back on track.

  1. Debt Refinancing

Entrepreneurs, startups and even established small businesses rely heavily on credit cards and various sources of financing. Managing multiple forms of debt can be overwhelming and costly. Credit card rates are often high, and not always fully transparent. An online loan can allow you to consolidate your debt at a much lower rate, saving you money and time.

 

 

About the Author: Michelle Pinchev