4 Reasons to Expand Your Food Business Through a FundKo Loan
A FundKo loan is a really convenient and helpful loan in the Philippines with many uses. Whether you’re a working adult who would like to shift from being an employee to being a businessman, a millennial with a thirst for knowledge who would like to pursue a Master’s Degree while working, or an efficient business owner who would like to expand his line of products, there’s a FundKo loan for you.
When it comes to business expansion, wouldn’t you want to come to a point where the only problem that you would encounter is how you would create more and be better because you’ve got more customers now? Once this happens, one of the best things that you could do is expand your business. And when you think you aren’t ready yet, here are 5 reasons to consider as you pursue business expansion through a FundKo loan:
- You need to increase your business’ working capital.
As a key aspect in your business’ financial stability and day-to-day operations, you’ll need to have a sufficient working capital. If you’ve recently acquired more staff or more inventory, through a FundKo loan, you could easily pay for those as you continue your daily operations.
- You need to expand your location or to branch-out.
With so many customers and patrons coming in and out of your cafe or restaurant every day, you may see the need to have a bigger place for a more comfortable dining. Or maybe, you may have the opportunity to put up another branch where your clients are requesting for. Even when you’ve got spare funds, it is really a big step to have an additional location or do a physical expansion. a FundKo loan could be of help as they provide really fair rates so as you could pay for the expansion costs as you repay the loan.
- You need new equipment.
With technology making things simpler and easier as days go by, there sure would be new equipment that you would like to acquire for your cafe or resto. It would be risky to purchase a couple of espresso machines or pasta maker machines using your emergency funds without actually knowing its return on investment. So, whether it’s a machine, a gadget, or any tool which would make you work better or which would attract more customers, a FundKo loan could be used for this reason.
- You need to acquire assets or inventory.
If there’s a period of time or a season where your customers rush in to purchase or buy from your food business, you must be ready with a supply to be able to attend to their needs. Through a FundKo loan, you would be able to deliver your client’s needs as you replenish your inventory. However, you have to be sure with the amount of loan you are to apply for and the number of products or items you are to replenish to avoid excessive inventory, especially when those are for a certain season or time period only.
With the reason of expanding your business, banks, companies, or even peer-to-peer lending platforms like FundKo would likely approve your loan, provided that you have the complete requirements. These lenders would know that your business has a good and positive cash flow because of your expansion. Through this big move, you surely could attain the growth that you are aiming for your food business.
To know more about FundKo’s business loans, visit FundKo.com.