Would you look through the eyes of Greed, or listen to your honest Heart?
Every budding entrepreneur faces this dilemma at least once in the game of life- Scrounge enough funds to make it through daily business errands, or go all in and take your adventure to the next level?
Math equations and accounting postulates answer the question fairly easily in theory, but the real-life dynamics of the business world are only known to the Boss Man, and that is where it gets really complex.
The choice between opting for a Working Capital Loan to cover up the daily expenses in order to stay away from daily cash troubles; and going for a Business Expansion Loan to scale oneâ€™s â€˜not so smallâ€™ business to new heights can be a tough one.
If you look at it as an outsider, it looks like a decision between peace of mind and more money. Hereâ€™s how:
This brings us down to the real deal:
Is it better for a business to stay where it is and get a working capital loan?
Or should the entrepreneur take a leap of faith and revolutionize his venture with business expansion loan?
To answer this nerve- wrecking question, we did a thorough research with credibly. Credibly offers both working capital loans and business expansion loans, so it would be easy to delve into the specifics of both from the same lender.
Letâ€™s begin the showdown between Working Capital Loan and Business Expansion Loan by Credibly!
Working capital loans are perfect for healthy small businesses with steady revenue. Repayment periods start from half-year to seventeen months. The total working capital loan amount goes up the highest limit that Credibly offers for any type of loans. Letâ€™s have a look at the specifics:
Purpose of a working capital loan is to run the daily errands and cover up recurring expenses. For this purpose, crediblyâ€™s working capital loan amount ranges from $5,000 to $250,000.
The term of loan should be decided on oneâ€™s own convenience as a working capital loan should be repaid at the earliest. Crediblyâ€™s term length goes from 6 to 17 months.
Thinking of expanding oneâ€™s business is a toughie in itself; it requires lots of planning and strategizing and one super-determined team of risk takers.Â If a small business enterprise showcases a proven track record of success and financial security, applying for a business expansion loan through credibly would be easy. Letâ€™s read between the lines:
Business expansion is like a Kaiju (monster); it gobbles up lots of greens before spurting out returns. Small businesses can procure $50,000 to $250,000 from crediblyâ€™s business expansion loan and feed it to the monster, then just wait for it to blowâ€¦with money.
Business expansion loans change the course of your small business, and it is a crucial decision that requires a long-term plan, but a term length of 18-24 months might be too soon for a small business to yield fruits from the expansion aftermath.
Small businesses thrive due to risk, determination, sweat and blood. Now that youâ€™re aware of what crediblyâ€™s working capital loan and business expansion loan offer it is fairly easy to make a decision.
All you need to do is decide- Should you ignite the fire underneath and take your small business to the next level with crediblyâ€™s Business Expansion Loan; or live in peace without taking a risk and ease up your life with a working capital loan? Your Call, Boss!
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