Every small business is different. A situation that could spell crisis for one business may be easily handled by another. No matter what kind of immediate problem you are facing, you will need to know where to find emergency business cash.
Who Offers Emergency Business Cash
For many business owners, a bank is the first place they think of when they require an emergency business loan. However, banks rarely loan money to small businesses on a normal day so they are practically useless during an emergency. Even during a crisis, they will still make you complete tons of paperwork and provide proof of a stellar credit score.
A better option during an emergency is to turn to a cash advance company, like Financing Solutions (www.fundmypayroll.com). They offer real relief and can get you the cash you need quickly. You can even receive financing if your credit history is not perfect.
It takes only a 15 minute phone interview to apply and in many cases, you can have the fast cash you require in your account the same day. Best of all, there are no expensive fees or long term commitments. They are upfront about all conditions and allow you to repay the money in a few weeks or months without penalty.
Why a Business Might Need to Find Emergency Business Cash
There are countless reasons why you might need emergency business cash. Natural disasters are only the tip of the iceberg.
You could also experience a fire that affects your technological equipment, have a lead member of your team become incapacitated, face a legal drama or an unforeseen economic downturn that impacts the whole country.
On the contrary, emergencies don’t have to be catastrophic in order to be distressful. It could be something as small as the loss of a big customer or supplier, an accident involving one of your delivery vehicles or not being able to make payroll for the month.
How to Prepare for a Business Emergency
No one has a crystal ball to tell you what the future will hold for your business. Unexpected events can happen at any time. The important thing is to know that you have a plan in place to guide you through most types of disasters.
The first item you may want to develop is an emergency contact list. This will ensure that all key stakeholders can be immediately made aware of an issue and you can get all hands on deck as fast as possible. Overall, you need to be sure that you are still able to conduct your business, even if only on a bare bones level.
A strategic continuity plan is also a necessity. This is how you will get your business back to normal operations as quickly as the situation allows. To be effective, it must address issues such as how you will recover from the loss of productivity or personnel. If these types of issues occur, you must ensure that your business can continue to operate. This will be especially important if the crisis becomes long term.
Perhaps the best thing to have in your emergency preparedness plan is the contact information for Financing Solutions. They can provide the short term business financing you need to stay on your feet.