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What can you use a business loan for?

By April 3, 2019 No Comments
Boxes in stock room

Boxes in stock roomDebt can be a very misunderstood animal. It’s normal for most people to talk of being in debt as being a bad thing. Our first assumption when someone’s described as being in debt is to think they must be struggling.

Of course, in some situations this is the case. But the circumstances matter a lot.

Particularly when it comes to business, being in debt is more often than not a vital stage in the growth process.

Cash flow is a big problem for small businesses. Capital ebbs and flows all the time, particularly in seasonal businesses where a very busy period can come after an very quiet one.

Every day, we talk to customers who need an injection of cash to help them move to the next stage. Very often, that injection of cash takes the form of a business loan.

In these cases, being in debt isn’t a sign that that business can’t cope; it’s a sign that they are coping. They’re doing what’s necessary to help their business achieve its goals.

Uses for a business loan

Here are some of the most common reasons small businesses seek financing:

#1 Replenishing stock

Whether you run a restaurant, a hairdresser or a garage, your business won’t last long if you don’t have the ingredients, hair products or parts you need. But buying a new order of stock isn’t always possible if cash is tight.

Shoes in a shoeshop

#2 Buying stock in bulk

There are also substantial savings to be made from ordering in bulk quantities. Doing so can result in a lower cost per unit, which means more margin and profit for the business in the long-term.

Shipping containers

#3 Investing in marketing

For your business to get to the next stage, you might need to reach new customers and make a splash with an ambitious marketing campaign. But marketing costs money, and that money isn’t always available.

Social media

#4 Hiring staff

Whether you employ staff already and need to hire more, or you’re getting ready to take on your first employee, recruitment costs money.

Woman serving in a coffee shop

#5 Moving to new premises

If you’ve outgrown your current business premises and need to relocate elsewhere, you’ll need plenty of cash available to cover the costs.

Small coffee shop

#6 Staff training

For your business to grow, you need your staff to grow too. Investing in training to teach your employees new skills or to hone their existing ones is often a vital part of the growth process.

Staff being trained

#7 Buying, replacing or upgrading equipment

Some businesses rely on equipment or machinery to carry out their day-to-day activities. If this equipment needs to be replaced, repaired or upgraded, it can sometimes involve a fairly substantial cost, which may not be readily available.

Industrial machine

#8 Consolidating or refinancing existing debt

By consolidating several existing debts into one or refinancing, your business may be able to get better terms and save money in the long term.

Counting pennies

#9 Paying a tax bill

If you know you’ve got a hefty tax bill coming up, a loan can help make sure you’ll have the funds you need to keep HMRC happy while still being able to invest in your day-to-day expenses.

Taxes and calculator


As you can see from the examples above, business finance shouldn’t be something that attracts a stigma. There are plenty of reasons why your business might need to seek funding.

At Boost Capital, you can get funding for almost any business use and you can get it fast – in as little as two business days, in fact.

If you need help growing your business, give us a call or apply online today for an instant decision.

Speak to a member of our business loans team on 0800 138 9080

More businesses than ever before are looking to Boost Capital for their business financing needs. To learn more about how our UK small business loans work or to explore the business financing options that are available to you, contact us today!
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