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*Once approved, your cash could be sent within 24 hours. Note, that the time it takes for the cash to be in your account will depend on your banks' policy.
Quite simply, business expansion relates to any spending or action to increase the size of the company, increase sales, or increase profits of a small business. Increasing the size of the business can come in the form of capital investments, as well and labor investments (ie: hiring new employees). Generally, a business will look to expand when they feel they have strong enough systems and business infrastructure in place to support the expansion. After mastering their craft and trade, and when a business feels it can service the new influx of business, a company may look to expand. Another key to expansion is to make sure that the company’s customer base is solid enough to help aid during the high-growth period, but also make sure that the customer base continues to grow during the expansion to help offset or pay for the upfront and long-term costs related to the project. Also, since expansion generally costs money, there may be a need for working capital purposes to help aid during this period when funds are being directed elsewhere.
Need facilities: A common reason for business expansion is when a company outgrows their current operating facility or supporting networks.
Need equipment: As business growth ramps-up, so is the need for modern and fully-functioning equipment or machinery to help keep up with orders.
Hire employees: As your business grows, the reliance on quality workers to support the growth, as well as hiring new workers to help the company with production and marketing.
Working capital: When you find yourself reinvesting in larger facilities, equipment, marketing, hiring, etc. you may find that your liabilities begin to outweighs your income. During those times it may be crucial to obtain quality working capital financing
Marketing: As with as businesses, if you have a great product or service, but no one knows about it, you won’t make much money. Therefore it takes money to make money. And investing in marketing to help grow your business grow is crucial.
Purchase inventory: as your business grows, the need for adequate inventory is crucial. You only have one chance to make a first impression, and even if you mess up after a long relationship, it could be enough to ruin it. Therefore making sure your product is always in-stock is extremely important.
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If your application is approved, you could have the cash in your account within 24hours*.
Getting accepted for a loan can be trickier if you’ve got a poor credit history, but there is light at the end of the tunnel and companies, like us, specialise in finding a loan for people like you.
You tell us how much you want to borrow and how long for
We’ll ask you for a few personal details, like your name, address and employment status
We’ll search 100s of lenders and let you know if it’s a ‘yes’ or ‘no’ there and then
If we find you a lender, the next steps will depend on which type of bad credit loan you applied for. If it was a personal bad credit loan, we’ll pass you over to your provider of choice to fill the rest of the form in - in some cases, the money could be in your account within 24 hours.
And for secured bad credit loans, providing you’re happy with the deal we give you, we’ll take over and do all the legwork to get your newfound credit wheels in motion.
East Devon District Council, Blackdown House, Border Road, Heathpark Industrial Estate, Honiton, EX14 1EJ