The COVID-19 vaccine is now being distributed – a light shining through the darkness that has been the past year. As a business owner, it’s me to start thinking about what a true re-opening will look like. When it comes to financing, you’ve likely been focused on PPP and other government relief initiatives. These programs can help get you back to square one, but where do you go to help kick things back into high gear (or at least a higher gear)?
Traditionally, financing requirements and approvals are based around information and collateral that you just won’t be able to provide at this point. Now may be the me to consider non-traditional forms of financing, such as: lines of credit, revenue-based financing and invoice factoring.