Unable to Make a Bil or Supplier Payment?
Expenses are a reality of running any small business and sometimes, in order to take advantage of an opportunity for new business, growth or expansion, there are costs that need to be managed upfront, before you see a return on your investment. This is where a well-structured, fast small business loan can add some flexibility to your business.
If you’ve got a plan in place and are expecting revenue to increase, a loan can be a good way to temporarily afford your bills and payments. If you are unable to make your payments on time not only can it hurt your credit score, but you can also incur a large amount of interest in the process.
If you are struggling to make bill payments or supplier payments Lendified can help you manage your bills and have them paid off as soon as possible.
Advantages to Using Your Loan Towards Bill and Supplier Payments
Bill and supplier payments are something every business has to deal with so don’t feel alone. Using a small business loan to bridge the gap can help for many reasons:
- Increase Cash Flow: Getting a loan to pay off your ongoing monthly bills can free up the cash needed to continue to grow your business.
- Protect Your Credit Score: In some cases when you can’t pay your bills you run the risk of negatively affecting your business credit score. Getting the funding needed to pay your bills can offset the risk of decreasing your credit by making sure that you pay your bills on time.
How Can I Get a Loan to Help Pay off my Bills and Supplier Payments?
If you are an established business with good sales, but limited working capital, it can be tough to get financing from a traditional lender. However, an online lender such as Lendified can provide you with the funding you need. Lendified offers short term business loans through a simple and easy online process. You can get pre-qualified in minutes and funding in as fast as 24-48hrs after approval!