When your new business needs money to make an investment or improvement but you don’t have it at hand, your dream doesn’t have to come to an end. There are a lot of opportunities out there for you to fund your idea, and getting a small business loan might be what you need to continue growing your project.
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It may not be easy and it can turn into a bumpy ride, but there are people or organizations that can help you through the process and get the best out of it.
If you’re still a bit skeptical about this idea, let me tell you some stories of entrepreneurs who, like you, needed financing for their small businesses.
1] Deli 23
First let’s talk about Óscar López, who after being a loyal customer in his favorite sandwich shop and then becoming an employee for a couple of years, he got the opportunity to purchase the shop and run it himself.
He wanted to make some improvements in Deli23 to optimize the workflow and provide a better experience for his customers.
After getting a small business loan, not only was he able to fulfill his plans and get more clients but also he increased his credit capacity and improved his credit score. Óscar is now planning to expand Deli23 throughout San Francisco.
2] Mireyes Instalaciones
Baldemar Ramirez’s story is similar. He owns a small business, Mireyes Instalaciones, where he installs and services mechanic repair equipment. He wanted to buy inventory in bulk to gain efficiency and grow his profits.
The demand in the market was growing and he needed to adapt to make sure he could seize the opportunity.
Thanks to the small business loan he got, Baldemar was able to take in more work and was able to save time since he didn’t have to commute at least 10 hours a week to pick up the parts he needed for his job. He grew his business considerably, and like óscar, he increased his credit capacity and improved his credit score.
Last but not least, there’s Leticia Michel, who started JD&C, a tax preparation service business while running a small flower shop on the same premises. After 15 years of hard work, Leticia owns one of the largest tax practices in Boyle Heights, California.
However, not everything was sunshine and rainbows for Leticia: as her business grew she realized she was neglecting her customers due to a lack of staff. She needed financing to hire more people.
Once she got her small business loan, she was able to hire 3 new full-time employees and offer a unique customer experience without overworking her employees. She could also diversify her services beyond tax preparation, offering real estate and legal assistance.
If you are in a similar situation as our three entrepreneurs in these stories, you can also get a small business loan. You will be able to expand your business, make renovations, get more tools to diversify your services or hire more people.
If you want to know more about funding options and start your journey today, check out the best small business loans you can find out there. It’s just a question of finding a lender that knows your industry and understands your needs and goals, a lender that can match you with the right financing option and get you the terms you are comfortable with.
Are you ready to achieve your dreams and build a legacy for your family? You’re only one click away to take the first step that eventually will grow your business the right way.