Grow Your Business With Small Business Loan

By Author: Diksha Sharma
Total Articles: 8
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SME loan or a Small and Medium Enterprises loan is a brilliant way to raise funds for businesses. They are appropriate for micro traders and small business owners as they come with reasonable interest rates to promote enterprising. Once you get the loan, do you know how to spend it to get maximum returns out of it? Are you sure about how you plan to spend your SME business loan?

Well, here we have chalked out a few smart ways of spending your business loan money that will help your business grow.

Invest in your Inventory

Buying new inventory for business is a considerable expenditure. Putting money in purchasing quality inventory is crucial if your business experiences a high sales volume during festivals and tourist-seasons. It is also a necessary step to enjoy profits. So, using a business loan for the latest inventory is always the right decision.

Marketing
Getting new customers is vital to growing your business, and marketing is one of the best ways to ensure that. You can use your loan money to invest in a marketing strategy for your brand like conducting ...
... an event, social media campaigns, paid ads, etc.

Get a website for your brand.
With a smartphone in almost every hand now, most of the business is happening online. So why not make the most of it. Use your loan money to get your brand a website and make your business reach far and wide. If you already have one, then go for a revamp with the latest website technology features for your customers' enhanced user experience.

Hire new staff and train themM/h3>
Small entrepreneurs usually handle many responsibilities and perform multiple roles. But this cannot go on for long. Hiring new staff is a requirement to keep the business running smoothly. It is also equally important to train your team from time to time. This is crucial so that they feel invested, and their skills are updated to take on bigger challenges as the business grows.

Small businesses do not require huge capital very frequently. Thus approaching a bank for a small amount sometimes does not feel worthy given the laborious paperwork, onerous formalities and inflexible rules. However, they may need instant funds at times, even if the amount is small. Approaching a financial technology company like ftcash is perfect for such times.

ftcash is a reputed business loan provider in Mumbai that offers financial solutions, catered for micro and medium businesses. ftcash provides secured and unsecured small business loans up to INR 50 lakhs with negligible documentation. They have monthly interest rates of 1.5%-2% per month for unsecured loans and 1.12%-1.41% per month for secured loans. Their Equated Daily Installment facility allows borrowers to repay the loan in small amounts every day. You can also keep a check on every loan-related information online with the ftcash app.

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