Learn more about financing your business expansion today with some helpful articles, tips and resources. And when you're ready to grow your business, BOK Financial is here to help.
Ideas for Financing Your Business
Finding the funds to grow your business can be a challenge. But, if you're ready to expand, it's often necessary. Below, you'll find information on some of the best ways to start raising funds, so you can take your next step.
Small Business Loans
By far the most common way to expand your business, a small business loan can give you the funds you need to grow. Look for financial solutions that are designed with an eye toward your specific needs. Depending on how you intend to grow, you may find you just need a small equipment loan. Or, a larger SBA loan might be right for you. Of course, BOK Financial is happy to work with you to find the perfect loan or line of credit for your business.
If you have some personal wealth that you can funnel into your business, that can be a wise move for expansion. If you're like many small business owners, though, you may need to attract investors to provide capital for your expansion. You can pitch your growth to a potential angel investor, friends and family, or even potential customers on a fundraising platform. Just be sure to clearly explain why your business needs to grow now, and how they'll benefit from it.
Profits and Savings
A traditional, if slower, way of raising the funds to expand is through old-fashioned hard work and diligent savings. If you're hoping to expand soon, now is the time to double down on your work and do your best to grow as much as you can. Save as much of your expanded profits as you can. These savings can act as a loan to yourself. Once you've accumulated enough, you're free to expand as you see fit.