Here in the northeast, Hurricane Sandy taught us a thing or two about survival yesterday – some of us hunkered down to weather the storm, many were evacuated, and still some had to be rescued. But, in the end, we’ve made it through and have lived to see another day to direct our businesses on a path toward success.
Though the high winds have passed, the lessons of survival have meaning that can last a lifetime when it comes to your business practices. One of those lessons – to not be afraid to ask for help – can take on several meanings when it comes to business survival, but probably the most important is to know when to turn to a lender for financial assistance.
We frequently talk about the many uses of working capital loans* here at Point Blank and Direct Capital. It’s no secret that we’re believers in all that they have to offer. But, for a struggling small business, they might just be that lifeline that can help you weather your own storm.
For one, you can get the cash you need fast, usually in a matter of days and not weeks. And, there’s minimal paperwork, so you won’t spend the entire day signing documents when you’re needed on the front lines at your business. Add to this the fact that Working capital is a great option for those companies that might have been turned down, or deemed “too risky” by traditional lenders and you’ve got a near perfect solution for businesses that may have had a rough break this quarter.
It’s not just for struggling small businesses, though. One of the best and most common uses we see is to help small businesses make money, by either taking advantage of huge savings thanks to big bulk inventory purchases or to fund advertising campaigns to help their business get in front of thousands of potential new customers.
What are your small business survival tips?
Photo credit to iStock
*Working capital not available in the following states: AK, DE, ND, VT