Borrow proactively, not reactively

Timing is a key element in any successful business strategy, and that includes knowing when to take advantage of borrowing opportunities. A proactive approach to borrowing puts you in a strong position to weather ups and downs seamlessly, whereas a reactive approach can leave you scrambling for options.

Working capital or long-term loan?

The first step is to identify your potential reasons for borrowing. Does business slow down at certain times of year, or go up and down in waves? If you're concerned about cushioning your cash flow during down times or simply need money to fund day-to-day expenses, a line of credit may be a good choice. If you put it in place now, funding will be available whenever you need it.
If you have a goal in mind that requires a lump sum of cash, consider a long-term loan instead. These types of loans are used for financing large projects that are paid off over set terms, typically for the purchase of equipment, property or business expansion. You may use a long-term loan for building or expanding your website, buying a new building, or any other project that moves your business forward.

Preparation pays off

By setting up a borrowing plan in advance, you can improve your overall business plan, borrow at the most advantageous terms and even enhance your company's overall value. Even if you don't need funds now, you can have peace of mind knowing you won't have to jump through hoops down the road to get them.

We can help

Visit one of our branches or call 1-800-288-3425 for assistance with your borrowing needs.