Financing Options Beyond the Paycheck Protection Program

Within the wake regarding the coronavirus, smaller businesses are facing challenges that are unprecedented. Regional and nationwide governments have actually granted lockdowns causing numerous organizations to shut their doorways. Consumer buying behavior has shifted, too, hurting interest in non-essential products and solutions.

Happily, Congress recently passed the Coronavirus Aid, Relief, and Economic protection Act (CARES Act) to simply help these struggling companies. The CARES Act also created the Paycheck Protection Program (PPP) to offer eligible businesses an 8-week forgivable loan up to $10 million in addition to supporting several traditional small business financing programs.

Struggling small enterprises should make an application for a PPP loan —especially because it may be completely forgiven if utilized properly on the 8-week duration. Nevertheless, imagine if the Paycheck Protection Program (PPP) is not adequate to keep your company afloat?

Below are a few financing that is additional for organizations that require more money than they could get through the Paycheck Protection Program.

Other Financing Alternatives In The CARES Act

Companies trying to find extra funding should begin by evaluating the SBA loans outlined within the CARES Act. The CARES Act includes provisions to expand other traditional SBA financing options such as: in addition to PPP loans
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