There are currently millions of small businesses in operation throughout the United States.

Is your business one of them? Are you experiencing cash flow issues?

If you're having a hard time keeping your business afloat, or if you need money to expand your business, a small business loan can be a great option.

Before you apply for a small business loan, though, you need to have a plan for how you're going to use it.

Read on for five tips to keep in mind to ensure you use a small business loan in the most appropriate way.

1. Grow Your Business

One of the best uses of a small business loan is to grow your business. 

In many cases, growing your business means opening a second location or launching an online store.

These are great ways to reach new customers, and lenders are often happy to provide loans if growth is your main goal. 

2. Weather the Storm

Every business goes through ebbs and flows. 

If your business tends to experience a bit of a lull during a particular season, a small business loan can help you survive during the dry spell.

That way, you'll be able to come back better than ever when the peak season arrives.

3. Increase Inventory

You could also use a small business loan to build up your business's inventory.

If you're having a hard time fulfilling orders because your customer base is growing so quickly, an increase in inventory might be exactly what you need.

4. Hire New Employees

Maybe you need to bring on some additional help to keep your business going strong or to staff your new location.

Use a small business loan to bring on the staff members you need and pay them a fair salary.

5. Upgrade Your Website

If it's been a while since your website has been upgraded -- or if you've never upgraded it, or don't have a website at all -- consider using your small business loan to cover the cost of a website developer and designer.

A website that functions well and looks great will bring in more business and help you to continue to grow and profit.

Alternatives to Small Business Loans

A small business loan can help you accomplish a lot of great things. There are other ways to get the funding you need, though, including the following:

• A business line of credit
• Hard money loans
• Equipment financing
• Personal loans

If you decide to take out a personal loan to fund your business, be sure to work with a reputable lender. Compare rates and terms to find the best personal loans that will give you the funds you need.

You Know How to Use a Small Business Loan! Now What?

As you can see, there are a lot of strategies you can implement to make sure you use a small business loan in the best way.

Keep these tips in mind -- as well as the popular small business loan alternatives -- so you can manage your money well and make sure your business is profitable.

Do you want to learn more business finance tips? If so, be sure to check out some of our other business blog posts today.