Local Newspaper Goes Digital
Line of Credit Local Newspaper Goes Digital
Author: Valerie Mellema
Date posted: 06.27.23

We live in a digital world today. Businesses have increasingly been required to realize that and make changes to accommodate it for their customers. This applies to companies in all sectors, including those who give us the news every day. One local newspaper had been the city’s staple for information but the Internet threatened to make it obsolete. Rather than sitting back, the owners decided it was time to move forward and make changes. Creating a hub online for the community would ensure they had a presence where the community was and could continue to serve them.

What Does It Take to Go Digital?

 

The owners sat down to talk about their options and realized exactly how much work would need to go into having a digital presence. They’d need a website, forums, social media accounts, and other items to ensure the community could easily find them. It would take a fair bit of money, but it seemed like the best way to move forward.

 

In addition, they’d need to hire new staff to handle some of the online work. Marketing would be required to make sure people knew their online presence existed. It was going to be a huge process and one of the first steps was determining how to pay for it.

Local Newspaper Goes Digital

Selecting Alternative Financing to Move Forward

 

While the newspaper was making less from paper newspapers as of late, they still brought in a profit. However, the owners weren’t sure they wanted to dip into that to pay for the digital version of their paper. Instead, they decided to see what kind of financing would meet their needs.

 

After looking at various options, they started to lean toward alternative forms of financing rather than traditional business loans. Many of them seemed a bit more flexible and useful for their needs. In the end, they went forward with a business line of credit.

What Business Lines of Credit Offer

 

There were several reasons the owners decided on a business line of credit rather than other financing options. The first was that this was a big change and they weren’t entirely sure how much financing they needed. While they had an estimate, they knew it might change. A business line of credit would allow them to use only what they needed.

 

On top of that, the line of credit took less than one week to close so they could start making changes quickly. Whatever they didn’t use from the amount, they also wouldn’t need to pay interest on every month.

 

Moving Forward with the Internet

 

Not everyone embraces change, but the owners of this local paper chose to proactively move forward rather than risk losing their reader base. They utilized a business line of credit as their tool to transition online, resulting in a highly successful website and a swift adaptation to an online presence

Local Newspaper Goes Digital
About The Author | Valerie Mellema

Valerie has over 16 years of experience as a professional writer of blogs, eBooks, articles and press releases, with a focus on finance and alternative lending. Valerie resides with her family in Texas and is passionate about her horses.

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