Term Business Loan

The Most Creative yet Efficient Uses for your Unsecured Business Loans

Unsecured business loans are an open-ended way to set a course for your professional future. The reality of unrestricted funds can be a little overwhelming; especially if you don’t know what that future looks like.

Creative and Efficient Uses of Unsecured Business Funds from Loans and Advances

Instead of scratching your head and wondering what to do next; try asking yourself the following questions:


Is there an immediate need that these funds can meet?

What are some short-term and long-term business goals?

How does investing in recovery and sustainability work?

This article will help you brainstorm and find the best use for your unsecured financing before you apply.

Oh, the Places You Will Go;  Lessons in Goal Setting

Dr. Seuss was onto something when it comes to preparing for life’s various twists and turns, but what if you’ve gotten off course, or simply don’t know how to get where you’re going? Bad credit and shrinking start-up funds can make you feel like giving up on small business ownership, but before you throw in the towel, go back to basics. Take a breath and assess where you are and how you got there in the first place. Then, ask yourself what your original goals were. Are you there yet? If not, start planning and create a road map to get you where you want to go. If you don’t know how; take a look.



Business Cartography: Financial Mapping with Unsecured Business Loans
The easiest way to maximize your brainstorming efforts is to categorize them based on the goal phase you are currently in. For instance, if you are in the start-up or initial recovery phase, look at goals that are immediate and will improve your credit. Focus on areas like:



Establishing Working Capital
o Positive Cash Flow-pay off back taxes and high-interest credit cards
o Payroll needs
o Operating expenses
o Settling vendor accounts



Payroll and Staff Expansion
o Seasonal employment
o Correct payroll errors
o Be prepared for fluctuations
o Generate revenue during lean sales periods

If you find yourself to be in the middle of the entrepreneurial road, you’re probably closer to phase two in goal development; promotion with moderate purchase power. You could put your unsecured business loan toward things like:
o Seasonal stock
o Buying in bulk
o Debut new Products and Services
o Invest in necessary equipment


o Radio spots
o TV commercials
o Circulars
o Expos
o Print Ads
o Internet-based marketing

If you are a seasoned business owner looking for a sustainable investment, you’re probably in phase three of development. Your map might be geared toward:
• Expansion and Growth

o Larger corporate facility
o Extended store hours
o New locations
o Enhanced marketing
• Store Renovation
o Cosmetic improvements (signs, supplies, paint, etc.)
o New equipment
o Merchandise

Unsecured business loans put the tools in your hands to take your small business wherever you want to go. It’s your decision how to utilize the funds and reach your destination. Whatever path you choose; make it a wise one and plan ahead.


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