In celebration of Small Business Week, Idea Financial would like to express our sincere gratitude to all the small business owners creating jobs, giving back to their communities, and delivering essential goods and services.
Thank you! You strengthen local economies and inspire new generations of entrepreneurs to explore new market opportunities and follow their dreams.
Without you, Idea Financial would not exist. You are the backbone of the American economy and the reason we come to work each day. Our business exists to help your business grow and achieve your dreams.
It takes hard work, determination, and vision to establish a small business and ensure it thrives. As small business owners know, that work is never done. There are always opportunities to grow.
Sometimes this requires more capital than your business has on hand.
Here are three tips for exploring your small business funding options and making the best choices as you continue to grow.
1 – Assess Your Funding Needs
First, make an inventory of funding needs and determine how much you’ll need to accomplish your new goals for growth. Look at your timing. Sit down with a trusted advisor to talk about whether now is the best time to go for the goal. Will you see a quick return on investment? How likely is your plan to return a profit within a fixed time period?
2 – Compare the Options
Before applying, be sure to the wide variety of financing options. Different funding sources have different implications for your personal credit. Others might come with annual fees, or even an “origination fee” to cover “the cost of processing the loan application.” Incredibly, some lenders even charge a fee if you pay off your loan early! Idea Financial believes it’s unfair to charge “early repayment fees” and will never charge an annual fee or “origination fee”.
3 – Consider the Associated Benefits
When applying for small business funding or a line of credit, it’s important to consider whether the funding comes with any advising. Is there someone you can talk to if you have questions or ideas about how to make the funding work for your business? Are there any tools or online portals to help you easily manage your funding and payments? Idea Financial provides dedicated business advisors to support you as you grow, plus online tools to help you manage your capital.
Get Ready to Grow
If you’ve done these three things and feel ready to seek small business funding, apply in minutes with Idea Financial. You’ll receive a decision within hours and access funds within a day. Then you can use the funds whenever you need them, and only pay interest on what you use.
About Small Business Week
Recognized in the US for over 50 years and held this year May 5-11, Small Business Week celebrates the many small businesses in our country. Each year since 1963, the President of the United States has proclaimed National Small Business Week as a time to celebrate small business entrepreneurship and innovation. The U.S. Small Business Administration helps promote and mark the event with awards and events.