Everyone Loves Pizza

The pizza shop owners saw how other companies were making money with online stores. Others were putting themselves in grocery stores or selling to restaurants and caterers. They knew their pizza was good, and after others said the same thing, it seemed like the right time to expand.

 

There was only one thing standing in the way – having the money to start putting themselves out there on a larger scale.

How Much Money It Takes to Expand

After their accountant worked on some figures, they decided that if they could got $150,000, they could start moving forward as a brand that was more than a beloved local pizza joint. This amount was enough to do some marketing and start working with caterers in the area. It would also let them set up an online shop to sell their pizza across the country.

 

Choosing the Right Financing Option

There are a lot of potential sources for financing with a small business, but the pizza shop owners wanted to make sure they did this right. Taking out a decent-sized loan would work, but it would also leave them taking out other loans in the future once it was paid off.

 

That’s one of the things that led them to consider a business line of credit. They knew the amount they wanted was possible and that it had perks over traditional loans. So while they got quotes for several financing options, the application went to a business line of credit.

Success Starts Here

The main reason that this company chose a business line of credit was that it’s a revolving form of credit. However, another significant benefit is that the interest would only be paid on what they used. So if they only ended up needing to spend $100,000, they would only pay interest on that amount. So it could end up being an excellent way to save money.

 

Plus, if all the money was spent, all they had to do was pay it back along with interest. They’d then have the opportunity to use the money again for other parts of expansion. It was a win-win proposition.

 

What Happened Next

The business line of credit came through, and things have been great since. The company now sells to caterers and specialty grocery stores in the area. They’ve set up a website to allow nationwide frozen pizza sales. All that’s left is watching as things grow. And if it does, they have that line of credit to fall back on when needed.

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