Business loan for growth and expansion
If your business grows, it could mean that you need extra money in the form of financing. Growereld can be used for additional marketing and sales activities, for entering new markets or for hiring more staff.
Financing your working capital
Sometimes a company also needs a business financing, because the hard growth increases your debtors or you need more stock. In practice, you often see that a company first uses the space on the existing current account, and then the creditor term is stretched. If that is not enough, then pre-financing of the debtors is still required. Additional working capital must become available. This can be done, for example, by increasing the current account, an additional bank financing or by invoice financing, factoring of your debtors. There are various forms of financing that can be a solution. It is especially important that the form of financing that you choose fits with the company. For example, factoring offers a one-off advantage because your debtors' money is stored more quickly in the bank account. A long-term business credit or current account offers a more permanent advantage, because even with future growth this can offer additional financial space. Of course, interest and repayment also play a role when choosing the optimal financing product.
Compare providers of business loans
LoanStreet offers a complete range of financiers that provide business loans, even if you want to use this for growth and expansion. Furthermore, by using LoanStreet you can also compare the various providers of business credit, so you always end up with the best deal.
