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How can I use a cash advance?

A cash advance, like a traditional or small business bank loan, can help you pay for key developments to your company or give your finances a cash injection when you need it most.

So how can you utilise a cash advance to the real benefit of your business? This guide explains.

How can I use a cash advance?

Redesign or refurbishment

Giving your company’s interiors a redesign or fresh new look, can sometimes be just what your business needs. Perhaps your office is in need of repairs after general wear and tear, or you need some new decor to bring your work space in line with a rebranding exercise. This is where having a quick injection of funding could help.

A cash advance could cover things like:

  • Labour costs
  • Materials
  • Design work

The loan could also cover the cost of new furniture to fit with your refurbishment, such as desks, chairs or shelving. Alternatively, could use it to pay for facilities to help improve the performance of your staff or to accommodate upcoming client projects. This could include a new social space or a redesigned meeting room, equipped for video and conference calls.

Expansion or relocation

Perhaps you’ve outgrown your current premises, your workforce has increased and you need more space. In this case, a business loan could help you to secure a bigger building for your company or cover the cost of an expansion.

When expanding or relocating, a cash advance could be used to cover things like:

  • Building work
  • Legal fees
  • Rent
  • Covering the cost of a move

Having larger premises or increasing the size of your existing workspace can also help you to grow your business. By employing new staff and adding more advanced equipment and facilities, you can provide more services to your customers. It can put you in a good position to take on more client work in the future too.

Purchasing

Sometimes, the stock or equipment you need to run your business is made available in limited quantities or within a narrow timeframe. This can mean you have to move quickly to acquire such essentials. Doing this is especially important if you want to stand out from the competition in a big market sector, like technology, clothing or design.

When purchasing for your business, a cash advance could be used to:

  • Buy latest equipment
  • Replace old machinery
  • Replenish stock

A loan like this can also allow you to move faster on your business purchasing, if the need to buy something necessary, but outside of your budget, presents itself.

Advertising

From having a decent website to advertising in relevant magazines, promoting your company to make your customers notice you can be crucial in business development. However, it can also be costly, especially if you have to enlist outside help or specialist services. With the help of a cash injection, however, you could pay for many aspects of your advertising and marketing.

For this, a cash advance could cover things like:

  • Web design
  • Print adverts
  • Billboards
  • Video

Access to a business loan to cover advertising is also especially useful if you’ve underestimated your budget requirements. It could be used to complete advertising within a short timeframe too, such as paying to promote a new and exciting addition to your business.

Bills

Unexpected high utility bills can upset your monthly budget and put your business finances on shaky ground. An electricity or heating bill following a particularly cold winter, for instance, which is higher than expected, could leave you struggling to find the money to pay it off.

Access to a business loan means you can get the funds to cover such unpredictable costs. This can also avoid the problem of service providers taking action and shutting off your amenities, like gas and water, allowing you to continue operating your company as normal.

A cash advance could help cover utilities bills like:

  • Electricity
  • Gas
  • Water

Improving your cash flow and how we can help

In business, there can be those difficult times when you just need some financial support to maintain or improve your cash flow. Perhaps you want to get your new company off the ground and up and running, or you need a cash injection to take your operation through a quiet and challenging period. This is where a cash advance can help too.

With the aim of helping to support our members’ business finances as best way we can, we provide the FSB Cash Advance business loan. From helping you to tackle unexpected problems to paying for big company developments, the loan can play an important part in building up your business.

Benefits of the FSB Cash Advance, include:

  • Low impact on your bottom line
  • Flexible repayments linked to your cash flow
  • Repayments via an agreed percentage of your future credit and debit transactions

To find out more about how our business loan could help support your finances and benefit your business, please visit our FSB Cash Advance page or get in touch with a member of our team.

FSB Cash Advance from FSB

A risk-free way of raising finance for your business, which is not secured to your assets, giving you the cash injection you need, when you need it.

Find out more