What Reasons are Good for Asking for a Loan?

If you are not yet fully convinced to apply for a business credit to grow yours, the following reasons can help you make the right decision.

According to our last Report on credit and growth of SMEs in Mexico (2019), which was carried out in the 6 main regions of the country, we learned that only 30% of respondents have a loan. And among the main reasons why they requested it are: the purchase of inventory (44.26%), investment in machinery (14.82%), expansion of the business or new branch (9.81%), financing of a project and payment of debts .

  • Inventory

  • Machinery

  • Branch office

But although these reasons are usually sufficient and the most common reasons why most businesses decide to apply for a loan, there are others that would really help to create greater scalability. Well, in order to advance to the next stage, the objectives that you have to set up have to be strategic if your long-term goals are to generate a stable and high-impact business.

Invest in technology

Invest in technology

Technology, which for many years maintained the myth of being only “fashionable”, today is immersed in the daily life of all. And for businesses and companies has managed to provide solutions that help to better development and performance, raising the level of income obtained, the profitability of the business model, as well as reducing costs.

We can verify this with another important fact of our Report, which shows that 67% of the survey participants who invested in technology and betting on totally digital channels, raised their level of sales, managing to report up to 10 million pesos.

So, investing in technology may be another valid reason for you to decide to apply for a business credit. Whether you want to implement better customer service, streamline production or delve into e-commerce, the money you can get thanks to a loan will be enough for you.

Search innovate in the market in which you develop

Search innovate in the market in which you develop

Speaking of the business model and adding to it the great competitiveness that exists, now it is not enough just to be good in the industry or the market in which one develops, but in what makes the real difference. That is, innovation, because the challenge is to understand the needs that arise from your customers and consumers to provide the best possible solution.

So we can also suggest that looking for a business credit to innovate in some aspect of your business, is a good decision, especially since it is a strategic objective that can ensure that you elevate your company to another level, offering things that the competition does not have. and they will make you stand out.

Now … what do you think about acquiring a business credit? You can be sure if any of the above reasons are present in your business and the vision you have for him is to grow.

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