Can Your Business Benefit from COVID 19?
Can Your Business Benefit from COVID 19?

Are you ready to be pro-active?


The pandemic is the HOT topic, but some businesses can benefit from this HOT topic by combining creativity with available funding.  Savvy management will consider retooling and perhaps re-staffing. Can you redirect your sales and marketing to online purchases? Can you provide home delivery services? Can you expand your services and your products?  Can you get through the economic slowdown without further investments in your company?

If you need capital – the SBA is HOT! If you can close a loan by September 27th, 2020, you may be entitled to a 6-month interest-free grace period. I recommend you reach out to your banker to determine their interest in providing working capital supported by the SBA 7A loan guaranty program. Management must be prepared for the loan processing, which means your financial records – your balance sheet and your profit and loss statements – must be current, and you should have filed your 2019 tax returns.

Yes, profits were impacted by the slow economy in 2020, but if you have survived and need capital. Your personal credit is 680 or better, and you are a candidate for very favorable financing terms.

Rather than confront the uncertainties of the current market, some business owners are considering retirement. Their pending retirement can create opportunities for competitors and current employees who are willing and able to switch gears, find options, and take action. And, many sellers who are anxious to sell their businesses may be willing to hold paper. Cash in all markets is king. Available cash equals opportunities.

The SBA PPP loan program is closing as of August 8th, unless Congress extends the closing or approves a new loan program for small businesses.  Access to capital offered through online lenders may be easy to obtain, but it is often structured for short term loans.  You should seek funds that match both your capital needs and your projected repayment schedule.  Ease of access is not always the best solution. Be careful to review the terms of repayment for all short-term loans.

Always stay tuned in to what is going on in your industry and your local market.  Changes can work in your favor if you are prepared. You may have an opportunity to acquire real estate at a favorable price, or you may be able to renegotiate a long-term lease.

We plan to schedule online mentoring sessions with the management of companies ready to evaluate their current market options. Specialists in specific industries will be available for these consultations. A questionnaire will be sent to interested participants before confirming an appointment. Are you ready to be pro-active?

Related content:


3 Tips on Social Networks Vital for Business

3 Tips on Social Networks Vital for Business

Social networks provide a wealth of information and the opportunity to extend your reach for very little financial investment. Your Activity in Social Networks Can Be Good for Your Business Whether by blogging, tweeting, posting, linking in or any of the other social...

Inflation’s Impact on Small Businesses In an Uncertain Economy

Inflation’s Impact on Small Businesses In an Uncertain Economy

Five ways to address operational changes All businesses are affected by an uncertain economy. Increases are only positive when they impact the bottom line. Small and medium size businesses often do not have the staying power to survive when one or more of the factors...

P.O.E. Part 2- Marketing Tips Which Will Resonate with Your Audience

P.O.E. Part 2- Marketing Tips Which Will Resonate with Your Audience

Here are six considerations before starting and executing tactics in market With P.O.E. the goal is instant value recognition, an automatic association of your campaign with a promise of value, that resonates with your audience. Key considerations for executing P.O.E....

Video Gallery


Sign Up for the Latin Biz Today Newsletter

PR Newswire

Featured Authors






My Unusual Path to Launch a New Business

My Unusual Path to Launch a New Business

Understanding the value of stepping away from a large corporation to build my Hispanic business This is my entrepreneurial story. Like many Hispanic businesspeople Fortune 500 companies are great to work with until they interfere with your core values. That's the...

Latin Biz Today Salutes Our Veterans

Latin Biz Today Salutes Our Veterans

Many Hispanic veterans played a vital role in protecting democracy and keeping our nation safe Today we honor veterans and active duty military personnel for their sacrifices and contributions to keeping the world safe. Here are several examples of Hispanic veterans...






Work, Life & Culture


Health & Fitness

Travel & Destinations

Personal Blogs

Pin It on Pinterest