We at BKE are aware of the impact the events of 2020 have had on the cash flow of many small businesses and franchises. As we work to adapt our business models to the new environment, sustainability has become a key concern for many.
While resources are constantly changing, we want to make sure you stay aware of some potential funding sources (please note this list is presented in no particular order):
-
Small business loans. In addition to disaster relief resources, a small business loan may also prove useful to qualifying entities. Check out. US SBA Lender Match, a free online tool that connects small businesses with SBA-approved CDFIs and small lenders. Please note, this is not for disaster loans. You may also want to explore lenders from other sources, such as Lending Tree, Benetrends Financial, Street Shares, and Kabbage.
-
With local programs changing on a regular basis, it can be worthwhile to monitor local and national relief opportunities for a match for your business. You can check out some funding resources by state through Gusto’s COVID-19 Small Business Relief Finder, as well as the SBA’s Corona Virus Relief Options Page.
-
Depending on your business model. Investment capital may also be an option. One way to explore this option is through the US SBA’s Investment Capital page, where you can look for an investor for your business through a Small Business Investment Company (SBIC) licensed by the Small Business Administration (SBA).
-
For some qualifying small businesses, Federal Grants can also be a helpful resource. These grants may have varying requirements, so take time to review information by opportunity.
-
An obvious but sometimes forgotten option, is your local bank. The traditional lender can provide a plethora of products to fit your requirement and timing. Check out this blog to see which banks are popular when it comes to small business loans.
BKE remains committed to supporting our clients and the small business community through the challenges the business community is facing now and in the future. If you choose to explore different funding options and would like to learn more about how BKE can help, please call 720 213 8040, email connect@bke.email or book an appointment with a specialist here.