Growing your small business without outside funding can make you feel as though you’re forever trapped in a catch-22.
Related: The Next 5 Steps to Take After You’ve Been Denied a Small Business Loan
You need to hire new employees, invest in new equipment and/or open a new storefront to increase sales and ultimately increase your company’s profit. But you don’t yet have enough profit needed to amass the capital you need to finance an expansion.
And, without an expansion, your business is unlikely to increase its revenue. So, as I said … catch-22. Therefore, since you are facing a capital shortfall, is a small-business loan the best option to bridge this gap?