Does your company need extra capital to accomplish your goals, get back on track, and grow? You’re not alone. Even longstanding businesses will occasionally face unexpected cashflow dips, or periods where expenses are higher than usual. To protect your revenue stream and prevent future strain on your bottom line, working capital loans can be a valuable resource that help you stay afloat. Below are a few key indicators that it may be time to seek outside assistance to keep your finances on track.
1. Your Sales Funnel is At a Standstill
Every business experiences slow periods where sales may be down and new prospects are lower than usual. This can be sustainable for time, and isn’t always cause for alarm if there is a logical reason for the change (i.e. change in workflows that need time to take effect). However, if your lack of prospects is extending beyond a comfortable period, it may be wise to seek financial assistance sooner than later.
2. Productivity is Down Due to Lack of Assets
If your ability to keep up to demands or take on new jobs is dwindling due to fleet shortages or unexpected repairs, working capital loans help bridge the gap and give you additional time to find the best longterm solution.
3. You’re Struggling to Cover Basic Operational Costs
When you’ve been in a rut long enough, sometimes it becomes difficult to cover the basic, but essentials costs of your day to day operations. If you’re stressing about making payroll, rent, or covering monthly necessities, seeking outside assistance is a must.
4. You’ve Been Growing or Transitioning Rapidly
Rapid growth or transition can put strain on the business, even if the changes have been quite positive. Increased demand, expanded service offerings, and other growth based challenges can be difficult to keep up with, so having access to additional capital can serve as a cushion during your transition.
5. Your Business is Seasonal
Seasonality can be stressful for businesses at the best of times, but if you depend on the weather or certain trends to generate consistent revenue, cashflow uncertainty can be a significant concern. Adding to your accessible resources during a particularly volatile period can be the difference between keeping the doors open and closing for good.
Are you ready to take get rid of financial stress? At Current Financial, we understand the unique challenges and needs of businesses from a wide variety of sectors. Our team of experts will work alongside yours to provide optimal solutions for all your financing needs.
Contact us today to learn more.