Cash Flow for Recurring Expenses
Often times you will have recurring expenses that your initial cash flow does not cover, so you may need to draw upon small business financing in order to meet these obligations. That can include salaries for your employees and yourself, as well as the costs of utilities and the continued cost of office supplies that you may use up quickly from month to month.
Cost of Growth and Expansion
Sometimes it will make more sense to invest in expansion than to sit pat and enjoy your more modest profits at your current size. This may mean a need for relocation or expansion into new product offerings. That can include research, development and marketing costs. This all adds up quickly, and may often require additional small business financing.
Maintenance and Repair Costs
This is often for important equipment to your business that may need to be maintained regularly or repaired from time to time as things go wrong. This could also be necessary for your offices and any work vehicles. In addition, if you have any natural disasters, there could be additional costs here.
Don’t forget the technological costs of maintenance and repair, as you may need to fix computer problems from time to time or upgrade the system in order to stay current. That can all add up to major costs on an ongoing basis, so it is another expenses that many small businesses utilize small business funding in order to cover.
There are different types of funding available, so you may need to work with the Reliant Services Group team in order to figure out what the best fit for you is and plan accordingly. They can also tailor a loan to fit your needs and provide you with terms that can be worked into your business model.
- Small Business and Micro Cap Loans are approved within 24 hours and are available with lower rates and terms of 6 to 24 months. They have fixed daily repayments available.
- Merchant Cash Advances are some of the fastest moving options, with approval in 24 ours or less and funds received in as few as three days. In additional, they have a lot of flexibility in terms of repayment methods.
- Equipment Leasing is also an option for both new and used equipment to be financed and it only requires a simple one-page application. Approvals can often be made on the same day.
In addition, all of the programs are available in Premium Programs that offer better terms for more stable businesses.