- A look at funding sources other than the Paycheck Protection Program
- Some small businesses may not qualify for a PPP loan, or may not be able to receive one before the program runs out of funds
- Crowdfunding, other SBA loans, “lazy assets,” and more
Summary by Dirk Langeveld
Although there are ongoing signs of economic recovery from the COVID-19 pandemic as vaccines are distributed and consumer demand returns, many small businesses will likely continue to see challenges from several months of diminished revenues. While the Paycheck Protection Program has provided a lifeline to millions of companies, there are millions of others that don’t qualify or may not be able to receive a loan before funding runs out.
A recent Forbes Technology Council post explores several financing alternatives that can provide short-term relief to businesses. These funds can serve as a short-term solution to maintain a company’s cash flow and ensure that it does not run out of money.
The post suggests that business owners can turn to crowdfunding, other loans offered through the U.S. Small Business Administration, or personal loans. There is also the potential to tap a retirement account or “lazy assets” such as home equity.
For more information on financing options, visit our Expert Summary on the topic or our list of funding programs.
