In the past month, the entire economy has been hit by a huge shockwave caused by the COVID-19 pandemic. Stores are closing, people have stopped travelling or going out. Any business reliant on in-person business was hit hard, even if rebuilding your business model is possible with virus-safe methods.
Many businesses were disintegrated or very close to bankruptcy by recent events. Similarly, many more are finding themselves in dire financial straits. But you don’t have to be. Business cash flow loans are a normal part of the B2B commercial world. Even before the pandemic, many businesses every year experience hiccups that need a little liquid capital to skate through.
If your business has been affected by the coronavirus economic shake-up, an emergency business cash flow loan can help.
Businesses Impacted by Coronavirus
While e-commerce is soaring and grocery delivery is straining under pressure, many companies experienced the opposite effect. Empty venues and cancelled events can destroy your financial situation, even if your business is able to recover under no-contact conditions. Here are some of the most affected industries:
– Brick-and-Mortar Local Businesses
Any local business that relies on daily foot traffic has been hit hard by the stay-at-home order. Many are adapting, but the financial impact could still be severe. Local businesses may need cash flow loans to rebuild their services to provide delivery or arrange for employee safety on-site.
– Small Businesses Hit by the Shockwave
Companies without a deep slush-fund are also vulnerable to the COVID-19 economic impact. It takes additional revenue to coast through a sudden drop in customers and to cover the renovations or adaptations needed for a virus-safe business model. If you just don’t have the funds, we can help keep your momentum going and help you to make a strong comeback.
– Hospitality, Travel, and Luxury Service Businesses
With travel suddenly becoming the most dangerous of possible choices, all travel and hospitality businesses are suffering. Airports, hotels, spas, tours, and theme parks are all closed.
– Activities that Focus on Physical Contact
Some business models are based entirely on person-to-person contact. Massages and physical therapy, personal trainers, gym classes, and many others are all facing a sudden need to completely reinvent their business plan, and that can take a little extra cash flow to tide you over.
How Business Cash Flow Loans Can Help
No matter what has slowed down your business, often all you need is an infusion of cash into your revenue pool to make it right. Cash flow loans are precisely that – they increase your liquid cash flow to weather financial storms and recovery from sudden hits to your revenue stream. Here’s how a cash flow loan might be used to tide you over:
– Cover Temporary Deficit
If the recent shift in the economy put your business into debt, get yourself right with your customers and suppliers first. This will make it possible to move forward with a little extra cash and the freedom to restart your revenue stream.
– Build Online Resources
Right now, the best thing any business can do is rebuild their business online. Provide services, information, and customer portals online to recreate your client-experience in the virtual environment. Help your customers stay connected and provide as many services as possible through your website.
– Invest in a No-Contact Business Model
If you once provided local and in-person services, figure out how to make it no-contact. Provide asynchronous porch deliveries so your customers can safely retrieve their items. Provide consultations, establish social-distancing spaces in your venue, and set up online versions of in-person events like classes and consultations. A cash flow loan will give you the financial room to invest in the new business model and get back on your feet.
Was your business hit hard by the coronavirus economic downturn? You’re not alone, and an emergency business cash-flow loan can help. Contact us today to discuss your needs, and we will do our very best to get you fast approval