Much like a personal credit card, business lines of credit are a revolving account that allows you to access funds only when you need them. As you pay down your lines of credit, you have more available to you to use. That is much more convenient than needing to apply for a bank loan every time your business needs money. In fact, the flexibility of this type of financing is one of the top benefits that business owners mention the most. Below we outline some of the many ways you can use these funds to help your business grow.

Hire Additional Employees

Demand for your company’s products or services is a good thing. However, it can be stressful when you don’t have the cash flow to bring in more employees to help meet the demand. It also increases the risk of poor customer reviews that can damage your company long-term. By taking an advance against your business lines of credit, you can hire new employees right away and never fall behind on keeping up with demand.

Increase Your Marketing Efforts

Your business can’t grow when no one knows about it. Investing funds from your business lines of credit into additional marketing is a wise business move. As any business owner knows, you must keep your company’s name out in the public eye or they will forget that it exists. One or more strategic marketing campaigns allow you to do that.

Purchase More Inventory

When customer demand for a product is high, you must have the inventory on hand to meet it. Financing via business lines of credit gives you immediate access to cash without having to go through a long bank approval process.

These are just three of many benefits your company could realize by opening business lines of credit today. We invite you to contact Simplicity Capital Finance to learn more about our terms and application process.