Printing Profits
SBA Loan Printing Profits
Author: Valerie Mellema
Date posted: 02.22.23

Located on the West Coast in a state full of sunshine, one printing company was doing great business. The owners had purchased the company from the previous owner who was retiring. For several years, they enjoyed the experience of managing the business and making sure customers in the area had the printing supplies they needed. A period of growth was something exciting at first. Some of the changes the owners made were proving fruitful and the small shop was now seeing more customers than ever before.

How to Handle Business Growth

 

Printing Profits can drive business growth, but it can also bring challenges. Consequently, as customer demand surged, accommodating them became complex. With progress showing no signs of reversal, the owners explored options to sustainably navigate this new landscape.

 

After considering various options, including maximizing their printing profits, it became evident that opening a second shop, focused on printing profits was the optimal choice. This not only addressed the challenge of accommodating more customers but also presented an opportunity to expand to another prime printing profits location, providing a more accessible solution for people on the other side of town.

 

The Cost for a Second Location

 

They first decided on proceeding and then questioned the expense of constructing the new location. They considered various factors: land and store construction costs, stocking, and hiring new workers. They researched these elements to determine a realistic cost.

Through online research and industry networking, they established a preliminary expansion cost. Combining all these factors, the business concluded a requirement of $750,000. This fund would facilitate the creation of a new shop equipped with all necessary components for a substantial upgrade.

Printing Profits

What Financing Options Are Available?

 

While a traditional business loan was available, the shop aimed to secure financing tailored precisely to their needs. This led them to explore a range of options, including small business loans, merchant cash advances, lines of credit, and more. Carefully evaluating the pros and cons of each choice provided clarity in determining the owners’ preferred direction.

 

In the end, the decision was made to apply for an SBA 7(a) loan. It fit the company’s needs and had a variety of benefits that seemed great to move forward with.

 

Reasons to Select an SBA 7(a) Loan

 

These loans tend to be inexpensive with longer term lengths and lower interest rates than similar business financing options. The presence of monthly payments also worked well with the way the business operates.

 

There are requirements for the loan but this company met them all and went forward with the application. They’d been in business long enough, had enough revenue, and carried a high enough credit score to be accepted and receive funding.

 

How Things Are Going Now

 

Since then, both stores have achieved remarkable success, and the outlook for the future is exceedingly promising. However, while there are currently no plans for immediate expansion, the owners are keenly aware of the available options to capitalize on, should circumstances change.

 

After that point, both stores have been successful and things look great moving into the future. There are no plans for expansion soon, but the owners know they have options to take advantage of if things change at some point.

Printing Profits
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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