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5 Signs You Need A Small Business Loan

What would our fine country do without all of the small businesses that make up the backbone of the economy? We’re not sure, and frankly, that’s a hypothetical question that we can’t really answer. What we do know is that countless small businesses around the United States provide valuable products and services with an attention to detail and loyalty to the customer that you just can’t find with other businesses.

While small businesses are typically characterized by quality customer service and the ability to provide niche products and services to local communities, they can also be characterized by a lack of funding. Having sufficient amounts of business capital to successfully own and operate a small business is imperative to grow and sustain your company into something that you’re truly proud of. But what are the telltale signs that you’re in need of a small business loan?

NebraskaLand Provides Business Banking Solutions
We understand the fact that it takes a solid foundation to build a solid business. That’s why NebraskaLand National Bank offers a wide variety of custom-made business and agriculture financing packages to suit whatever your business needs are. Our loan experts in North Platte and Kearney can help you get the best Small Business Administration (SBA) loans that you need to drive staff growth, building expansions, equipment acquisition, or any other capital needs. Learn more here.

Let’s touch on some signs that your company could use a small business loan.

Business Is Booming
Why would you need more money for your business when your revenue is higher than ever before? Well, as your business grows, you will need to expand your operations either by moving to a bigger space or enlarging your existing space. However, since real estate and moving costs tend to be rather expensive, you may require a small business loan to acquire the space that you need to expand in a similar fashion to taking out a mortgage loan to purchase a home.

If you’ve found that any of your equipment is becoming outdated or your staff is becoming too small or overworked to meet the demands of your customers, then these additional small business funds can be used to finance these equipment or manpower expansions as well.

You’re Having Cash Flow Issues
Issues related to cash flow are actually fairly common among many small businesses. The problem with maintaining an optimal cash flow lies in paying for supplies and labor up front, but then receiving payment from customers only on delivery or even later with payment terms. So, even if your small business is generating considerable revenue, you might still be encountering cash flow issues.

A traditional business loan or a business line of credit from our Nebraska bank can really come in handy for managing your cash flow, allowing you to dip into funds when your operational expenses are due, and replenish them when you receive payment.

You Need More Inventory Or You Received A Big Order
Cash flow is all about striking the right balance. Having inventory for products is important to make sales, but if you have inventory, that means you haven’t actually sold the products yet. If this is the case for your small company, then you might not have enough cash available in order to purchase the inventory that you need. So, if you picked up a large customer (or even several smaller customers), you’re anticipating an influx of new customers, or you’re launching a new product, you may very well need a small business loan to create the inventory necessary to fulfill these orders.

You’re Acquiring Another Business
Business is business, and sometimes purchasing a competitor or buying out another small company is a smart and necessary move. After all, if a strategic acquisition opportunity comes along that will help you expand your business, having the ability to take advantage is very important.

Now, buying a business is usually fairly expensive, so getting a business acquisition loan may be necessary to cover the costs of your strategic purchase.

Stay Tuned For Business Banking Insights
Our business is in funding your business, and your business is to continue providing valuable products and services to your local community. We’re a community bank that is dedicated to serving areas like North Platte and Kearney to foster and support the success of our small businesses. Be the next success story with our small business loans from NebraskaLand National Bank today! 

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