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At some point of your business, you would need to upgrade or purchase equipment or tools in order to fulfill orders.
What if you need to deliver 100 orders; however, your current production can only accommodate 50 orders as to its maximum? What will you do, then?
Upgrading or buying equipment or tools is part of growing your business. You have to see it as an investment, and not as an expense. Because in the long-term, this can help you in increasing your production, allowing you to receive more orders. And with more orders, it can eventually lead to increased revenue.
But as business owner, you understand that buying equipment is not as easy as it looks. Equipment or tools can be costly, which if procuring equipment isn’t plan well, can affect your cash reserves or working capital.
Related: 3 practical ways to use working capital loan to grow your business
So what can you do when you want to preserve your cash flow, at the same time, you want to upgrade equipment or tools that you need? Availing a short-term loan can be your option to buy new equipment or tools for your business. RFC offers short-term loans to meet your business’ needs.
What are the advantages when you avail short-term loans to procure equipment?
- Flexible terms. Instead of buying in a one-time purchase, which can be costly, you can procure equipment utilizing a short-term loan that can be paid over a period of time, giving you a flexible way to pay your loan.
- No collateral at stake. With RFC’s short-term loan, you don’t need to put up any collateral to avail of a loan.
- Improves credit. When you pay your loans on time, it improves your credit score as a business, which can help you when you avail of another loan for your business.
What are the advantages when you upgrade your equipment or tools for your business?
- Improves productivity. Dealing with old-fashioned tools or equipment can derail your operations. No matter how you delay purchasing new equipment, managing outdated equipment also comes with costly repairs. With updated equipment, it improves the flow of your operations. You no longer need to deal with unexpected or unplanned downtime
- Accommodate market demands. As your business grows, the demand for your products or services also increases. With updated equipment or tools, it increases your business’ efficiency that allows you to fulfill more orders without sacrificing quality.
Apply now for a short-term loan to buy the equipment or tools you need!
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