Hey everybody this is Tom from LenCred. Thanks for stopping by and checking out some of our videos. Today’s question comes from Sam.
Sam asked, How do I finance my business expansion?
Sam that is a great question. its awesome when you are expanding your business and continuing to grow and taking market share.
So remember there is defiantly bank and non-bank lending options out there for you.
Depending on how solid your credit is, whether you have full financials, and some net profit.
You know all those kind of things come into play.
You are always going to have the best options when you have good credit, solid collateral, and a track record showing net profit with your business.
That is always when you can get the best of the lowest cost financing Sam.
But remember also if you don’t have all those things.
There are other ways to finance that expansion.
And it is all about what, you know; how will we will grow, what kind of money will we make, and can we afford the debt.
Whether the debt is your lowest cost option or whether it is a little more expensive.
Can you afford that debt and will your growth be able to justify that new debt you are taking on.
So financing always begins with knowing your options.
So begin by doing some research.
If you need to know, we have a great eBook on our website.
The 16 best business financing options for your small business.
So give you some of those great ways to finance your small business expansion.
If you have any other questions talk to one of our business advisors, advisors, reach out to us we would love to help.
Thanks again for tuning in. Everybody have a great day!