Money is the fuel for your business. You need a . inflow of capital to infuse in your business for various reasons. However, there are times when the earnings from the business are inadequate to manage the peak seasons. At other times, the financial crunch becomes so severe that you lack money to run even daytoday operations. If you are an MSME owner, even a small amount of capital can turnaround your business.
Now, the question is when the . time to apply for a business loan in is If you apply too early, the money will either lay idle or misutilised. If you apply too late, you will miss on tapping the business opportunity promptly. Here is your ready reckoner to the ideal time for applying for a business loan in . During OffSeason When your business is going through . months or seasonal lows, the sales volume is poor and income is less. But, you still need working capital to manage daytoday expenses such as salaries, store operations, utility bills, etc. A business loan can meet your working capital requirement.
This way, you don’t need to cut down prices, offer discounts, lower staff wages or take any kind of hit on the revenue. Also Read FLEXILOANS AIMS TO . , LOANS IN ALL BY MARCH EquipmentAsset Purchase If you are planning to buy new machinery or any asset to grow your business, capital is a must. Instead of digging into your working capital or profits, take a business loan instead! The extra money will ensure that you don’t have to compromise the quality or production of goods or pull purse strings elsewhere. . CAPITALL When you are thinking of expanding, there are numerous costs involved. It is akin to establishing a whole new branch, franchise or store.