New Jersey Business Loans: Growth Strategies For Entrepreneurs

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New Jersey Business Loans: Growth Strategies For Entrepreneurs

New Jersey business loans come in all shapes and sizes. Some NJ business loans are designed to cover short-term capital requirements. Others are designed to help new businesses get off the launching pad. However, when New Jersey businesses are looking for growth financing, the available solutions can seem rather vague.

Traditional New Jersey Business Loans Hamper Growth

Almost every NJ entrepreneur is familiar with traditional loans. Collateral and an agreement to repay funding with interest is exchanged for capital. The debt that comes with traditional New Jersey business loans also plays a big part in determining growth potential. Debt-based loans allow businesses to grow in short spurts, hampering their full potential. When a set amount of revenue needs to be set aside to meet the terms of a loan agreement, that actually places a strain on finances. Certainly there must be another way to achieve growth without the restrictions of traditional loans.

New Jersey Business Loans Without Debt

Believe it or not, there are loan programs designed specifically for business growth in New Jersey that don’t place any debt on the books. Purchase order financing, for instance, provides NJ businesses with an advance in capital to complete large orders and take on bigger customer accounts. When the order is completed, an invoice is sent to the customer with the financing rolled into the total amount due. In essence, the customer pays for the business loan, and the revenue is gained by the business. Purchase order financing is one of the few New Jersey business loans which doesn’t weight down local businesses with unnecessary debt. This allows businesses to grow to their full potential.

Continued Growth Financing

Not all growth financing needs to come from New Jersey business loans, either. Programs such as invoice factoring and cash advances provide ongoing funding without debt, so businesses can accumulate growth capital and reduce the need for debt-based loans. Factoring eliminates staggered payment schedules and converts invoices to cash as they are generated. Cash advances provide capital without a repayment schedule, which allows businesses to grow and still maintain a large amount of flexibility with their lenders.

Learn More About New Jersey Business Loans For Growth

The Capital Lenders specializes in growth solutions for New Jersey business owners. Whether you are focusing on internal growth projects, or you are looking to expand to a new location and move into larger facilities, we can help. Contact our offices today to learn more about our NJ business financing programs.