5 ways a commercial loan may help your business
EMDC's Business Services staff specializes in connecting Maine businesses like yours with the resources you need.
We all know that commercial loans are an important part of doing business. Funds provided through lending institutions can help you take the next step with your business--whether you're starting new or looking to grow an existing enterprise. Below are five uses for business loans that you might not be aware of.
- Real Estate
Looking to open a second location? Or to relocate your business? A business loan can help you acquire land, build a new structure or convert/ renovate existing structures.
- Working Capital/Inventory
If you need to increase inventory in order to remain competitive or simply need cash to purchase supplies necessary for business operations, a loan may be able to get you moving forward, faster.
- Equipment Purchase
Different from "supplies", in many businesses the equipment you use makes all the difference in your success. Need to add a delivery vehicle to get your product to your customers? Need to replace an aging machine? An institutionally financed loan can help.
- Purchase of a Business
Ready to take that leap and purchase a "new to you" business? Whether it's your first venture or your fifth, chances are a commercial loan is what you'll need to close the deal.
The historically low rates we hear about aren't just for home mortgages. Businesses across the country are benefiting from rates lower than those they may have had just a few years ago. Obtaining a lower interest rate, consolidating debt and extending the terms of your loan are just some of the benefits of a refinance.
All of these options are available to EMDC clients who work with our Business Services staff.
One call to EMDC and we'll begin helping you find the best solution for your business challenges and opportunities.
As a statewide SBA approved lender we have access to a number of products and terms and can help in ways traditional financing institutions cannot.
Want to know how we can help your business succeed? Call us at 974-3243 or email us at firstname.lastname@example.org
Business Financing: The Next Step