5 Ways You Can Use Funding to Expand Your Business

5 Ways You Can Use Funding to Expand Your Business

Business funding can truly open a lot of doors for your company. Whether you're a newly formed enterprise or have been in business for a while, getting a line of credit, merchant cash advance, or short-term loan could mean the difference between thriving in a competitive landscape and falling victim to that competition.

First Union works with companies all the time in terms of getting them the money they need to expand and successfully navigate future challenges. What could you do with a line of credit or short-term loan in order to grow your business?

1. Not only hire more staff, but better train them. Hiring staff is one thing, implementing the curriculum and programs necessary to ensure that they are at the top of their game is definitely something else. Talent acquisition is only as good as the resources you have to offer new employees—where does your training program currently stand?

2.  Speaking of staff, invest in a social media manager. Isn't it time to up your marketing game? Social media is quickly becoming the most prevalent channel through which businesses can market their message. That said, you probably don't have the time to man Facebook, Instagram and the rest. A dedicated social media manager could be just what you need.

  1. Time for new equipment. Whatever type of equipment your business depends upon, it may just be time to upgrade. From hardware to machinery, to devices, genuinely evaluate your need to throw away the old and bring in the new.

  2. Roll out a new product. The worst thing you can do is sit tight in the land of status quo while your competitors are doing bigger, better and newer things. It may be time to integrate a new product offering into your lineup. The rollout may cost money, but in the end, consider the benefits.

5. Look into buying another company. This may be the perfect opportunity to acquire another company. That is definitely one way to expand fairly rapidly.

Whatever plans you have for expansion, we would love to help. Our fast, flexible loan programs make it possible for clients to procure the cash they need in as little as two business days, and bad credit is not necessarily going to prevent you from getting the funding required. Call today and let us help you grow!

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First Union Lending LLC is a dually licensed Lender/Broker with its main offices located at 4900 Millenia Blvd First Floor Orlando, FL 32839. First Union Lending LLC and its ads are meant for continental United States, including Alaska and Hawaii small business owners. Business Loans offered by First Union Lending LLC have varying rates and terms that can range from 30 - 120 payments and all rates and terms are based on eligibility of the business and its owners. The actual terms are based on credit, business history, industry, amount and terms. As an example, a $5,000 loan paid over 5 years at 8% would have a total repayment of $6,082.92 over the life of the loan. We use the latest encryption to protect sensitive information transmitted online, as well as run our own secure server network to ensure your information is protected offline as well. California loans made pursuant to the California Financing Law, Division 9 (commencing with Section 22000) of the Finance Code. All such loans made through VBJ Consulting, LLC, a licensed finance lender/broker, California Financing Law License No. CFL#60DBO78163

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