29 Sep 2020, 16:22 — 4 min read
Whether you’re a startup or an established business, you need to purchase equipment and tools to meet your business needs. Be it from heavy machinery, vehicles, office equipment, computers, to technology solutions — these equipment are essential to your day-to-day operations and can determine the path of your success.
However, as a business owner, you also understand that buying these kinds of equipment can be costly, and can affect your cash reserves or working capital. So what should you do when you’re stuck between preserving your working capital and investing in your business?
This is where a short-term loan comes in as your lifeline. Short-term loans can give you the necessary fund to procure your desired equipment without affecting your working capital.
There are advantages when you utilize the short-term loan to acquire new equipment or upgrade your systems or inventory. Here are the following:
Also read: How to take advantage of short-term loan to jumpstart your business
You no longer need to save up to cover the expenses of your equipment’s upgrade or replacement. With short-term loans, you will quickly obtain the fund you need for your purchase, which would not affect your business's ongoing operational expenses like payroll, rent, and other recurring costs.
Short-term loans allow you to spread out your payment over a longer time than procuring your equipment in a one-time purchase. This gives you more leeway to pay your loan in confidence.
Having updated equipment and tools will not only give you a competitive advantage, but it will also boost your business operations.
If you make payments on-time, this will positively impact your credit score as a business. Proving yourself as a good payer gives the lender confidence to lend you additional funds in the future.
Short-term loans via SeekCap by UBX, a UnionBank subsidiary, allow you to have an additional fund to buy the equipment you need for your business growth.
Their short-term loan comes with flexible terms (3-6 months term) and avails a loan amount as high as Php 300,000. The interest rate is at 2% per month or 24% per annum with zero processing fees.
Imagine purchasing machinery to produce 10 times to what you usually generate. This allows you to cut down on the amount of production time, saving on operational costs. Having updated equipment and tools will not only give you a competitive advantage, but it will also boost your business operations.
Apply now for a short-term loan to meet your business needs!
Image source: Shutterstock
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