It’s taken a few years, a lot of hard work, and more than a few sleepless nights to get here, but your company’s growth has surpassed your expectations. Your current customers already keep you busy, and it seems that every week is bringing new customers who want what you have to offer. You’ve been adding employees to meet the demand, but you’re running out of places to put them. Nor do you have space for more production equipment or inventory. Still, you don’t want to turn away the added business.
Owners of new businesses dream of the day their struggles will end. Veteran business owners will tell you that each struggle you solve is quickly replaced by a new one. One example of a positive challenge is growth that’s outstripping your resources. “The added revenue is great, but if you’re having trouble keeping up, you run the risk of frustrating customers and damaging your hard-earned reputation,” says Mike Murphy, Vice President of Business Services at Indiana Members Credit Union.
Whether you need new production equipment, extra space to house people and products, or even a new location that will accommodate growth, you’ll need capital. Most of your capital is probably already tied up in your business.
“Sometimes, business owners are reluctant to borrow money for expansion,” explains Murphy. “But business financing is like financial fertilizer that gives your business what it needs to grow. With the right financing, you’ll be able to achieve the growth you want, and the added revenue should continue to support additional growth long after you’ve repaid what you’ve borrowed.”
Companies in search of financing face a bewildering array of alternatives, some of which aren’t as attractive as they seem. A better alternative, notes Murphy, is as close as Indiana Members Credit Union. “Credit unions have earned a reputation for working cooperatively with people, and the same is true for business members. We offer a variety of financing programs for expansion needs, whether that’s new construction, equipment financing, or commercial real estate loans. And because we make our own decisions locally, business owners won’t have to wait forever for an answer.”
If you need money to grow, call our business lending professionals at 317.554.8105. We’ll be happy to discuss your needs and share the options that are available to you, so we can make your current business challenge a lot less challenging!