Business growth may be a double-edged sword, as difficult as that might be to believe. All entrepreneurs want more customers, revenue, and locations. However, when it comes time to deliver, growth can require more precious resources and tighter financials than many small businesses have. This is where a Bluevine business credit line can come into the picture and turn things around.
Think about getting a contract that could put your business on the map and bring in massive profits. The problem? You must buy some materials to start the project even before getting any payment, and a lot of your money is tied up elsewhere. A business credit line can provide the capital to capitalize on such opportunities without missing a beat.
Why a Credit Line is Essential for Growth
Expanding a business is a matter of managing the unexpected. If your cash flow is subject to highs and lows of seasons or industry downturns, you may suddenly need money to sort out an emergency, such as replenishing all of your inventory in one go. A credit line ensures you have every resource you need, and you only pay for what you spend.
A Bluevine business credit line will keep you nimble by preparing you to respond to whatever curveballs are thrown by the market. Instead of being held up waiting for a traditional loan approval process, you can have a line of credit secured in a matter of mere hours.
Breaking Down the Benefits
Faster Access to Funds
Who says you can’t buy time? You can, at least a little bit. If you’re tired of waiting weeks on bank approvals, you’ll love the process of applying for a Bluevine business credit line. In most cases, owners will be approved in just a few short hours.
Tailored for Small Businesses
Placement of SMEs has often been challenging. Standard banks still struggle to serve them, save for the odd up-and-coming challenger bank. This is why Bluevine exists: to provide SMEs with access to credit and timely capital options they so desperately need. Whether your business is a relative upstart or an old family-run operation, you’ll always enjoy the flexibility needed to decide how much of your credit you need and when.
Clear and Transparent Terms
Let’s face it: the most significant problems businesses have about taking out a loan often revolve around hidden fees and unexplained, cryptic terms.
With Bluevine, this is a concern you can cross off your list. That’s because they believe in transparency. For rates and fees, you’ll always know what you’re in for from the very beginning so you can decide if you want to proceed.
The Potential of Credit Lines
Having a business line of credit is not exclusively for financial coverage, but it serves as a multipurpose tool that can provide the necessary backing you need to finance the growth of your business. With the right information on how to use it, you can create a unique roadmap to how your business can grow.
Bridge Cash Flow Gaps with Confidence
In the life of a growing business, the barrier is usually faced in cash flows. As a growing business, particularly those with longer payment cycle periods, a credit line serves strictly as an invisible guardian angel. It ensures you remain afloat to pay your bills, monthly payroll, and vendors without necessarily downsizing.
Support Seasonal Demand
Most entrepreneurs aim for business growth. However, there are times when it is impossible to do so. When a good opportunity appears, but the business does not have enough money, this brings a lot of frustration to the business and the team. When a business credit line has been pre-approved, with its ability to accommodate more loanable amounts than a loan, there is a good chance your business will do better.
Mitigate Unforeseen Challenges
You will never know what will happen in running your business, no matter how carefully you plan things.
Businesses that have credit lines are simply at peace, knowing there will always be funds to be withdrawn when push comes to shove. Bluevine, one of the leading providers of business credit lines in the market, allows business owners to get business credit with a flexible credit line.
Making the Most of a Credit Line
- Borrow Wisely: Only draw funds when necessary to avoid accruing unnecessary costs.
- Plan to Repay: When you take the credit line, be sure to know how you will pay the installments back. Include them in your goals and planning.
- Make Investments: Use it to invest in opportunities that provide greater returns with reduced risks, like getting your hands on a piece of useful machinery or expanding a product offering.
A Way To Scale Your Business
You never have to have a so-called off-season when it comes to your budding enterprise if you know where to get your hands on some cash – Bluevine and their business credit line is exactly what you need to ward off any dips in business!
