Getting a small business loan can be a complicated and competitive process, so you want to make sure you're using the money as effectively as possible, but how do you choose? To-do lists tend to pile up quickly when you run a business, and it's easy to get carried away by all the little things you know could make a difference. If you're considering a small business loan, here are just some ways for you to get the most bang for your buck.


Larger marketing campaigns can be out of reach for many small businesses. Setting a daily budget for running ads alone can be intimidating, let alone testing ads for effectiveness. With a boosted marketing budget, you can experiment with your advertising efforts and pursue avenues that weren't available to you before. Depending on your target audience and where they can be found, running campaigns on social media might be your best bet. More funds might mean you can afford more expensive options like billboards, radio spots, or more inventive marketing like logos on cars or on public transportation. You can also put this money towards things like merch, stickers, and posters.


If your lease ends or your location isn't quite right for your needs, you may find that relocation is your best bet. If you're already experienced with how expensive personal moves can be, then you have some idea of the time, effort, and expenses required for a business relocation. You're not just looking at the cost of rent or buying a new location, but all the extra fees, and that's not even getting into the cash flow interruptions while you're in the thick of it. By checking out resources like Lendio, you can get some extra funds to make the transition a little easier until business can start back up. 

Consolidate Your Debt

Making payments on many different accounts with varying interest rates can get time-consuming and expensive fast. You may be lucky enough to have options for reconsolidating your debt. This leaves you with fewer payments at lower interest rates, so you can save money over time. Not everyone qualifies for something like this, so it's a great financial tool to take advantage of when you've done your research and know it can benefit your company's specific situation.

Repairs and Updates

When you're caught up in the daily demands of operating a business, making the odd repair or update here and there can fall off your list of priorities quickly, especially if completing them would mean halting business for a day. However, making all those little changes can have a huge impact on your daily tasks. How many processes would be streamlined if you didn't have to waste precious hours recalibrating old equipment? How much frustration would you spare employees if they didn't have to restart a computer every time they tried to sign in or print a document? Money from a loan can finance these replacements and fill the gaps in cash flow from interrupted operations.

New Experts

Money from a loan can go towards new hires if that's what your business needs, but you can also spend that money by hiring consultants or training experts who can come in, make an assessment, and help you change the way you operate for a one-time fee. Those changes can help boost your income and allow you to still make new hires down the road when you have a stronger workplace to welcome them to. 

More Inventory

If you're always stressed when it comes time to reorder material or products, you might want to spend some of your funds on those items so that you always have a little more stock than you need. This can cushion production during unexpected bumps in demand so that you can satisfy excited customers, but it also means you can experiment with new ideas for products and services in your downtime. 

Dealing with business finances can be tricky, especially if you're not used to handling large amounts of money, but a few investments in the right areas can help grow your company and make daily operations more enjoyable for everyone.