3 Top Ways to Spend Your Loan
14 Oct 2019
With loans ranging from a minimum of £25,000 up to a maximum of £100,000, our loans can be utilised in a variety of ways to support the growth of your business.
Once you’ve successfully completed the application process and have received one of our loans to take your business to the next level, you might be thinking what’s some of the best things to spend your loan on to get the most for your business.
Here’s three things that some of the businesses we have supported have utilised their loan for:
1. Working Capital
Every business needs to be able to manage day-to-day cash flow effectively. In doing this, businesses will be able to survive in the short term whilst working towards long term business growth and expansion.
Getting a loan from us can therefore provide your business with the essential working capital required to support company cash flow and daily running of your business.
2. Investing in New Office Premises
Whether your business is just starting out or is already established and looking to expand, you may need to consider investing in suitable office premises that will support the needs of the business.
Using your loan to support the purchase, expansion or renovation of business property will allow you to have the appropriate space to take your business to the next level.
3. Purchase of Plant/Equipment
No matter the industry, if you’re keen to start or grow your business our loans can help you purchase or lease various business essentials such as IT equipment, specialised software, company vehicles or specific machinery and tools which will help you achieve your goals.
We therefore strive to ensure that Scottish SMEs have access to essential funding which will help kick start your business’ growth.
Start the online application process today and watch your business flourish with the help of a loan through BLS.