The Art of The Ask: How to Create a Compelling Case for Business Loans

Do you think a business loan could help your company grow?

Help your small business grow by creating an excellent case for growth financing.

Whether you're looking at growth financing or seed financing, securing a loan can be one of the most stressful parts of starting and growing a business. As you work on your business planning, you need to think about how you'll launch financing for your business. To develop financial resources for business, you need to create a compelling case so lenders will help you with your business loans. How can you prepare to ask a lender to help you grow your small business?

LOOK IN THE RIGHT PLACE FOR BUSINESS LOANS

As you look for loans for your business, make sure that you begin in the right place. While credit cards can help you pay your regular phone bill, they're too high interest for a long term business loan. Investors look tempting, but you need to decide whether you want someone to own a part of your company or whether you'd prefer to take the risk of bringing on debt. When you're seeking a business loan, know that many larger banks cannot provide a new business with access to loans, since you have no strong credit history yet. Instead, look for lenders that are friendly to small businesses, such as Lendified. Small business lenders understand the needs and challenges of your business. Original Source...

Contact Us:

330 Bay Street, Suite 306

Toronto, Ontario 

Zip Code: M5H 2S8

Business Phone: +1 647 381 9218

Business E-mail:  troy.wright@lendified.com

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8 Questions to Ask when Applying for Small Business Loans Online

In today's internet-savvy world, applying for a small business loan has transitioned from a complicated in-person process to an easy online application. Not all online lenders are equal though. Here are eight questions to ask when considering applying for a loan over the internet.

Does the online lender have a secure website?

A lender that delivers small business loans over the internet should use an encryption system to safely receive your personal financial data. If safety is a concern of yours, look to see if the company uses a Secure Sockets Layer protocol (SSL). A simple way to check for this is to visit the site, look at the url in your browser, and make sure it starts with “https”. This simple addition to the url ensures that the information entered into the online business loan application form transfers safely from your computer to the lender.

Who is the lender?

Who you obtain financing from makes a difference. You want to deal with a credible lender with high standards of service and an understanding of your needs. To learn what customers say about a lender, read their online reviews on TrustPilot. Also, if you are one of the many business owners who prefer to deal with a Canadian lender, research the background of the lender and its leadership.

What is the application and approval process like?

An online business loan application process should be more convenient than applying in-person. Before filling out your business loan application online, make sure you find a lender that matches your expectations regarding convenience. Remember to ask how long your application will take to be approved and if you will have to visit a physical location at any time. The most established and trusted online lenders offer an online application, approval within 24 hours, and do not require a visit to a branch. If you are considering Lendified, take note that our loan application is 100% online, takes less than 10 minutes to complete, and provides same-day approval.  View Original Source...

Contact Us:

330 Bay Street, Suite 306

Toronto, Ontario 

Zip Code: M5H 2S8

Business Phone: +1 647 381 9218

Business E-mail:  troy.wright@lendified.com

Read More

Retail Store Business Loans

Are you a retailer in Canada looking to take advantage of an opportunity to grow your business or simply bridge the gaps between your cash flows? A business loan from Lendified may be the ideal option for you.

Business Loans for Retail Stores

The retail industry is an exciting environment, with its own set of rewards and challenges. Seasonal shifts, inventory needs, unexpected repairs, and the hiring of new staff can squeeze your working capital. Many Canadian retailers approach the banks to help, only to be frustrated by the strict requirements, loads of paperwork, and the months it can take to get funding.

At Lendified, we understand that sometimes retailers need cash quickly, whether to fulfill a big order or get a bulk discount. View Original Source...

Contact Us:

330 Bay Street, Suite 306
Toronto, Ontario
Zip Code: M5H 2S8
Business Phone: +1 647 381 9218
Business E-mail:  troy.wright@lendified.com

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5 Ways To Use Small Business Financing

At Lendified, we are often asked what our loans can be used for. This is understandable since some forms of small business financing in Canada come with restrictions. However, we allow you to put your money toward anything you need to grow your business.

Here are 5 examples of ways you could use your financing:

Physically Expanding Your Business

If your inventory has surpassed the amount of space available for storage or your employees are getting creative to work comfortably, then expanding the physical space of your business could be a good use of your business loan. Just make sure that the investment leads to increased productivity, profits, or both.

Purchasing Equipment

If new equipment is needed to extend your product or service line or increase the efficiency and production of what you currently offer, then a business loan can help you cover the up-front cost and meet your existing obligations. View Original Source...


Contact Us:

330 Bay Street, Suite 306
Toronto, Ontario
Zip Code: M5H 2S8
Business Phone: +1 647 381 9218
Business E-mail:  troy.wright@lendified.com

Read More