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Marketing is crucial for small businesses, but limited funds can make it challenging. With a small business loan, you can invest in effective marketing strategies to reach new customers. Learn how to leverage business loans and other financing options to boost your marketing efforts and grow your business.<br>
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Introduction Marketing is the lifeblood of any small business, but with tight budgets and limited resources, getting your message out there can feel like an uphill battle. This is where smart financing comes into play. By leveraging various funding options, from business loans to lines of credit, you can fuel your marketing efforts and drive potential customers to your business.
Google My Business Getting a prominent placement for your Google Business Profile is one of the most powerful things a local business can do. Companies must have their listing show up in the top three for searches related to their location and what they do, for instance, “Chicago lawyer,” “Orlando plumber,” or “San Francisco therapist.” If they don’t, most searchers will visit their competitors.
Email Marketing Email marketing is a fundamental part of digital promotion. Most of the people who visit your website will not buy from you right away. Capturing contact info for additional marketing and lead nurturing through email is the best way to keep you in their consideration set. The same is true for current customers. A solid email marketing program will keep your business top-of-mind when it comes time to buy something you sell.
Term loans: These are the most popular financing type offered by traditional financial companies, and the proceeds can be used for almost any business need, including marketing your company. (Short-term loans are best for marketing.) Be aware: Most banks will require you to put up a personal guarantee on a loan, which means you could lose valuable assets if your marketing campaigns fail and you cannot pay back your loan.
S. Small Business Administration (SBA) loans come with attractive interest rates and terms. SBA 7(a) loans are the top SBA loan option. They provide U.S.-based small businesses with low-interest financing. They may be used for many things, including promoting your business. Be aware that it can be challenging to be approved for an SBA loan, so your small business must have an excellent credit history and solid track record to qualify. If your business is a startup or associated with an underserved community, you may qualify for the SBA Microloan Program. The financing amounts from this loan program are relatively small, capping out at $50,000.
Online lenders: Online lenders are essentially the same as traditional banks, except that most of the loan application process is online, including uploading bank statements, tax returns, your business plan, and other information required to determine creditworthiness. Loans from online lenders can be used for virtually any purpose, including paying for your small business marketing strategy. Eligibility for these loans is easier than from conventional banks. If your business is newer or has a less-than-stellar credit score, it could be the ideal option for your advertising needs.
Why Choose Biz2Credit? • Trusted partner for franchise funding • Biz2Credit was founded in 2007 and has provided more than $10 billion in loans. • Dedicated support team • Tailored financing solutions
