As any business owner can tell you, there’s one important factor when it comes to getting a new business off the ground — money. Whether you already have the funding on hand or you need to secure the funds you need, getting off on the right foot financially is key in getting started. One way to get your small business up and running is by securing a business loan. Polam offers a number of financial services for our entrepreneurial-minded members, including business loans with low rates and flexible terms.
If you’re considering applying for one of our business loans, here are a few ways it can help:
- Growing and expanding your business. Whether you need to secure more office space, you want to relocate your operation, or you’d like to enhance your line of products and services, having extra cash on hand can greatly help. Expanding your business opens you up to more profit, allowing you to pay off your loan more easily.
- Building the best team of employees for your operation. While many business owners try to wear a number of hats in their job, oftentimes it becomes too much. Hiring a team of employees with specific skill sets will only serve to grow your business and develop relationships with customers and vendors, thus bringing in more profit. Our business loans can ensure you are able to pay your employees what they’ve earned.
- Ensuring you have the inventory on hand you need. We’re approaching the holiday season, which is a busy time of year for almost any business for myriad reasons. If your business is a retail-based model, you already know the importance of keeping enough inventory on hand, especially during peak shopping season. Securing a business loan through Polam before the busy shopping season begins is a great way to ensure you’re offering your customers what they want, without having to wait for it.
Whether you’re a new or seasoned business owner, we encourage you to drop by one of our branches and sit down with one of our expert loan specialists to discuss your options before the holiday season. As always, we can answer any questions or concerns you may have.