The Covid pandemic has badly affected small businessesÂ
No other disease epidemic in living memory has caused as much turmoil as the Covid pandemic. One of the main preventive measures in this case is social distancing, of which the most extreme manifestation was the government enforced lockdown. This has hit the fragile small businesses especially in the brick and mortar retail industry very hard. While many have shut down altogether, many others are trying to reopen but are constrained by non-availability of funds. Direct Lender small business funding agencies are there to provide easy and hassle-free cash advances to such small businesses.  Â
Entrepreneurs starting a new businessÂ
It is said that opportunities often emerge from crisis situations and the Covid pandemic too has triggered the demand for new safety and life-saving products. These are face masks, sanitizer solutions, personal protective equipment (PPE) kits, oxygen ventilators and concentrators, high immunity nutraceuticals and now vaccines. Prior to the Covid pandemic most people except those in the healthcare industry would never have known about these products. Looking at the global scale of the pandemic these products are being produced in very large numbers and the businesses involved in the process, big and small, would have received business capital loans for these new projects.Â
Bad credit history won’t affect eligibilityÂ
In small business funding provided by agencies that are focused on offering hassle-free and easy credit to businesses, your credit history is not always considered as important. What they consider is the viability of your business and whether it will bring in enough profits for you to return the money you have borrowed, with interest and on time. Such criteria may not be sustainable for lending to bigger businesses with larger credit requirements but it is quite effective and viable for lending to small businesses. It has worked wonders for many small businesses.Â
Considering the significant role played by small businesses in the growth and sustenance of the national economy, it is important to ensure that they operate in a business-friendly environment. One of the most critical requirements for any business, big or small, is easy availability of hassle-free cash. While it is not a problem for big businesses to get the required cash from big banks and financial institutions, it is not so for small businesses. This is a major gap in the capital market and it is being plugged by direct lender companies, who are focused on the small business sector.Â
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