Small Business Loan - What Can You Use it For?

A Home Business Article Contributed by Fiona Mclaren

The Day Your Small Business Loan Arrives

The day has finally arrived for you to find out whether you have been given your small business loan. You sit back in your leather recliner, you take a sip of your expensive French coffee, and you open up the morning mail. In fact, scratch that. The situation is probably a lot different to the relaxed one you just visualized. Picture this instead: You pace up and down the hallway, wondering why the postman is fifteen minutes late.

Doesn't he know that your small business loan application results are due today? You peer out of the living room window. You hear footsteps approaching. Your heart starts beating a little faster. He's here. The postman is finally here. At long last you are going to know what the outcome of your small business loan is. But...your heart deflates. It's only the woman at number 62 walking her Pomeranian dogs. You always hatred Pomeranian dogs anyway.

After what seems like the lifetime of all waits, you finally hear those two magic noises: rattle, thump. You rush to the letter box and literally tear the mail out of the postman's hands. After throwing all the other mail to the side, you finally locate the envelope you want.

Opening it, you read those amazing first words that make your heart soar: Your small business loan has been accepted.

But what now?

What Can You Use a Small Business Loan For?

If you are lucky enough to have had your small business loan accepted, then you should have a nice, healthy big check in your possession. The question now is, what do you spend it on?

If I were to recommend three things, it would be the following (in no particular order of importance).

1. Spend a large chunk of your small business loan on marketing. You need to generate business as quickly as you possibly can. Let customers know that your business is out there. Get in to the market place and make sure that your product is seen.

2. Spend some of your small business loan on office equipment. It is vital that you have some good office equipment to work with. Good items to have include a telephone, a fax machine, and a computer with Internet access. Technology is a great way to make sure that your business runs smoothly, efficiently, and is completely up to date.

3. Invest in your product. Make sure that you use some of your small business loan to ensure that the products or services that you offer are top of the grade. You must provide excellent quality goods if you are to impress customers, and get them to buy from you.

Summary of the Small Business Loan

If you have received a small business loan, you are well within your rights to go and celebrate your success. After all, you are just about to embark on a whirlwind adventure of running your own home based business. Just make sure that you don't fritter all your money away.