Change is a critical factor for both individuals and businesses. Indeed, it could be said that sameness is an enemy to greatness. Every business owner should want to achieve some type of business growth. No business owner likely ever tried to shrink to success. As James Cash Penney, founder of JCPenney stated, “Growth is never by mere chance; it is the result of forces working together.” One of the key forces is financing for business growth. 

The Measures of Business Growth 

Business growth can be achieved and measured in many ways including increased topline sales, increased bottom-line profitability, added products or services, greater market share, a larger customer base, more employees, and added locations. Each of these will likely require financing. 

Why is Business Growth Desirable 

Business growth just for growth’s sake is not a wise strategy. Growth should be pursued purposefully and strategically. Then it becomes desirable for many reasons including being able to attract more talent, defend against competition, achieve a stronger market position, achieve economies of scale that result in lower costs, secure stronger buying power, become more economically resilient, and seize new opportunities. 

Sources of Financing for Business Growth 

Sources of financing for business growth include: 

  • Traditional bank or credit union loans. These loans are often difficult to obtain for small businesses and they often involve an intensive and slow application process.  
  • An SBA loan is a loan that is offered by a bank and backed by the Small Business Administration. These loans are specifically for small businesses and usually come with lower interest rates and favorable payment terms.  
  • A business line of credit.  
  • Equipment financing.  
  • Equity financing. Financing can be obtained through angel investors or venture capital firms, but this often comes with a loss of control.  
  • Financing from lending specialists instead of from banks.   
Seek Expert Financing Assistance 

Contact My Commercial Capital, based in Bel Air, MD, for expert financing assistance. We have a wide variety of financing solutions to meet your needs, structured to provide maximum benefits to borrowers.