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6 Ways to Use a Small Business Loan

Here at Timberland Bank, we are proud to offer small business loans to our entrepreneurial customers at affordable interest rates and easy eligibility requirements. Here are six popular ways to use a small business loan.  

  1. Everyday operations
    Running a business can cost a pretty penny. With responsibilities for covering payroll, to funding daily operations, to paying the rent, there are always new expenses cropping up. A small business line of credit can help your company cover the unforeseen, as well as stay afloat during its slower seasons.
  2. New equipment
    Purchasing new equipment and machinery can help your business save on everyday expenses by increasing efficiency, but that initial outlay can also be expensive and many small businesses don’t have the ability to buy equipment with cash. A small business loan can help make the necessary purchases affordable over time.
  3. Inventory
    Every business needs to keep its inventory well-stocked to meet customer demand. Sometimes it is challenging to purchase all the inventory needed for the busy season, whether that is plants in the spring at a nursery or the holiday season for a retailer.  Your business may need to finance the purchase of raw materials that will become the finished product that your customers want.  A small business operating line of credit can help your business manage the seasonality or growth that your business is experiencing.
  4. Debt consolidation
    Keeping up with monthly payments on outstanding debt while staying on top of other expenses can be difficult for a struggling small business. A small business loan can enable a small business to refinance or consolidate their debt into lower-interest and fixed monthly payments.
  5. Marketing campaigns
    Having a fantastic business model is not enough to make it prosperous; customers need to know you exist. Without the right kind of marketing, a business can be invisible to the public; but ad space, branding, commercials and more can be enormously expensive. Let a small business loan help you get your hands on the capital you need to run a marketing campaign that drives real results.
  6. Expansion and growth
    Sometimes, a great opportunity for growth can present itself to a business, but the cost of funding it is prohibitive. A small business loan can help a business secure the funds it needs to grow to its full potential.  
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 take the time to learn about you, your business and the future of your company. We are committed to serving you as a trusted business partner and are ready to help your business grow.