Two years ago when I started my first boutique shop, I didn’t expect quick sales and more customers on my doorstep. In less than a year, new and existing customers wanted much more than I could stock.

The rise in demand meant I either got more stocks or disappointed a few of my customers from time to time. The latter was not the best choice. Research has it that for every customer that you disappoint you lose five more.

Most customers that any new business gets are often due to referrals from loved ones (this is the most trusted referral system). Disappointing a customer means you will suffer by losing everyone that they brought in.

Because of this, I was left with one option – getting in more stocks. But I had no money? What was I to do? Usually, there a number of options that you can work with; I will give you the top three options that I often used.

Small Business Loan

This is better than taking a huge loan from any financial institution. It is a great form of small business funding that will allow you to fix an impending financial problem very fast. In my case, I needed quick stock. Taking a small business loan was a quick fix that allowed me to bring in more stocks that met my customer’s demands.

The best thing about small loans is that they run for a short period, have low interests rates and will easily allow you to work smoothly/ stress-free.

Goods On Credit

Sometimes if your relationship with your suppliers is good, you don’t usually need any form of small business funds to get more stocks. Instead, you can always approach your supplier for a pre-order that you will settle once you sell out the stock.

Many people who take goods on credit can also put in a down payment as a form of a surety that they will pay up the rest once they are sold out. However, this is a form of a business loan that allows you to even take pre-orders from the most loyal customers. 

Advance Notice with Option

A good example of an advance notice with an option is this; you have the same design of dress in stock but of different colors. You can always give your customers a heads up or notify them of what is available and which options they can go for.

This is very ideal as it often calms customers down. They feel you have their interests at heart and that you value them. You can often do this while you look for the best form of business loans to go with.

Why Business Loans?

As a form of business funding, going for loans shows so much commitment to your work. It also gives you a single debt to work with. You can always offset your loan in many different ways. Indeed you can also get unsecured business loans.

Restaurant loans and boutique loans are some of the best forms of small business loans that you can go with. However, you need the help of an expert to get you the best interest rates for your loan. Check out this article to find out the best loans to go with.