Common Ways to Use Small Business Funding
Small business installment loans can boost your business in several ways. Some of the common ways that business loans are used include:
● Vehicle Purchase or Repair: Companies that range from plumbing to computer repair to legal aid services rely on vehicles to get to their customers. Having the funding to get the transportation you need can give you options as a business that are otherwise closed to you. Installment loans are especially good for this type of activity because of their speedy approval and their consistent loan repayment structure.
● Equipment Purchase or Repair: Anyone who owns a small business and has had a key piece of equipment break down knows the stress this can create. Whether your bakery's oven has gone on the fritz or your temperature-controlled warehouse's air conditioning has died in the middle of an Idaho summer, we understand the pressure that comes when you can't get work until your equipment is fixed or replaced. Idaho Finance can help with a fast installment loan.
● Owner or Employee Living Expenses: Many small business owners and their employees live paycheck-to-paycheck or project-to-project. If your customers are slow in paying for your services, that can leave you in a bind when it comes to paying your rent or keeping food on the table. When you know that income is expected for services provided and you need a bridge until that payment is received, an installment loan can hold the pieces together. Also, unlike payday loans, if your business receives its expected income faster than predicted and you pay off your loan early, installment loan fees are adjusted for early repayment. For payday loans, your fees are fixed and you don't get any benefit from paying your loan early.
As a local company ourselves, Idaho Finance values the benefits that small businesses bring to their respective communities. We are enthusiastic about being a dependable, honest resource for people with good, fair, or even bad credit to get the financial resources they need to improve their lives.
If you own or manage a small business in the Caldwell, Idaho area and are looking for a fast, easy way to access small business loans, Idaho Finance is here to help. You can reach us by calling (208) 999-LOAN (5626) or contacting us online for more information. We can't wait to help your small business reach its greatest potential.