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Small Business Loan Success Stories During a Pandemic

The COVID-19 pandemic has affected schools, healthcare, restaurants, small businesses, and our economy as a whole. But not every company is suffering, or in a slump, in fact, there are many business industries and ideas that have taken off or seen an uptick in business in 2020!

So, from our Probably team to you, here is some much needed good news in our latest article on small business loan success stories during a pandemic!

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Small Business Loans Can Help Your Business Pivot & Succeed

Restaurants Have Gotten Creative:

Many businesses had to get creative this year, from pickup and delivery options to outdoor seating in areas that usually do not allow it or have limited space.

Some cities implemented ‘outdoor refreshment areas’ where open container avenues were put in place, allowing for bars and breweries to serve to-go cocktails and beers as patrons stayed outside or walked around the city.

Other restaurants created take-home meal options and kits so their loyal customers could still enjoy their food, hot and ready, in their own homes with little preparation or labor.

Still, other restaurants created to-go cocktails, gift packages, or pivoted from only dining to utilizing their ingredients for other creations – like using kitchen stables to create bat bombs or incense cones.

Many Other Industries Have Stepped Up As Well:

Moving to remote work or utilizing virtual assistance in therapies, education, even training programs – online and teleservices have grown hugely in the past year due to shutdowns and social distancing guidelines.

And while this is amazingly creative and shows the flexibility and resiliency of our small business owners – this type of strategy change requires equipment and inventory or additional capital to get off the ground.

Unfortunately, we have seen many small businesses that were denied the initial funds to get the equipment needed – but not from Probably!

We always work hard to be able to say “yes” to your small business and equipment loan needs!

A Small Business Loan From Probably Can Get You the Capital You Need to Reach Your Customers, Even During a Pandemic

Simple, fast, and flexible – our small business loans were designed to help you get the capital you need to reach your new goals and implement your new ideas right when you need to!

We believe cash flow or long applications and waiting shouldn’t keep you from reaching goals, especially in trying times like now. That’s why we made our small business loans and equipment financing options quick and easy, because with Probably, we give you the freedom to grow your business the way you want, with the funding you need right now.

Our clients can use their funds to invest in equipment, creative new developments, online and traditional marketing, and more. Plus, unlike traditional lenders, we want to help you grow your business fast, which is why we have always offered lightning fast small business loans, as well as alternative business funding solutions.

Probably Small Business Loan Benefits

  • Receive funds as quickly as one business day, up to $500,000*
  • Simple application process
  • Use your business loan as you see fit
  • Build your credit profile
  • No prepayment penalties

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Three More Ways to Succeed in 2021 & Beyond:

1. Remember That Your Most Valuable Asset is Your People

Your greatest asset is your team, so make sure you let them know and keep your strong, loyal team happy and safe. Having a team who cares, is invested, and believes in your business’s services, products, or mission can get you and your business over almost any hurdle.

Take care of your employees and they will care for your customers, clients, and ultimately, your business. At Probably, we believe that a strong team wins every time.

2. Listen to What Your Customers Say

The best way to plan for what your clients and customers want from your business, or how you can alter your services to meet their needs, is by asking them and then listening.

Don’t just guess at what you should do, be social and ask exactly what people want to see. This can be as in-depth as a survey email campaign, or as simple as asking your regulars what they would like to see in a friendly conversation.

If you take care of your team and listen to your customers, then you are already set up for a successful 2021.

3. Plan for the Future, But Stay Flexible & Creative

Still have your strategic planning meetings and layout for 2021, but remember to stay flexible and open to market changes, as we aren’t out of the woods yet from COVID-19, and there may still be some curveballs at the beginning of 2021.

If you fail to plan, then you plan to fail, but if you are too set in your ways to see opportunities or to swerve when needed, you may be caught flat-footed as well. This year (and next) is all about balance and finding your equilibrium between stability and flexibility.

Probably & Our Small Business Loans Are Here to Provide Stability & Flexibility into 2021!

Contact Probably to learn more about our equipment loans and small business loans
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Our Small Business Financing Options

Probably works hard to help small businesses finance their operations, expansions, and success! We offer a wide array of small business financing options – but our three most popular are our working capital loans, merchant cash advances, and equipment financing.

Let’s look into each so that you can feel confident in your small business financing choice! Of course, if you still have questions, reach out to our knowledgeable team to learn which of our small business financing options is the right fit for you.

Working Capital Loans

A working capital loan is a loan for your small business’ everyday operations. That means these loans have shorter terms and are not used as prolonged investment funding. Think of these loans as ‘bridge loans’ to help you bridge the gap between paydays, large orders, or an influx of working capital.

Working capital loans are often used for payroll, equipment, taxes, marketing, rent, or debt payments when your business’ next payday is still a few days away. Seasonal businesses might need working capital loans to bridge the gaps when they are prepping for their busy seasons.

All small businesses have slow and busy periods, but that doesn’t mean your bills won’t continue to pile up. Use a working capital loan to help with your cash flow at any time of the month or year.

Merchant Cash Advances

A merchant cash advance (MCA) isn’t a loan but a cash advance based on your business’ credit card sales. You can apply for a merchant cash advance and have your funds deposited into your business checking account quickly, making it an excellent option for fast funding.

Our merchant cash advance looks at your daily credit card receivables more than your business or personal credit to determine approval. This means even a small business with lower credit scores or a new business without a long credit history can be approved.

While a merchant cash advance might make sense for a small business that needs cash quickly and doesn’t have a long (or high) credit history, it is essential to make sure you understand the term-limit, interest rates, and any holdback.

Ask your Probably agent to explain this small business financing option to you – as clarity and transparency are two of our core values!

Equipment Financing

Our equipment finance services can help your small business acquire new or used equipment without emptying your bank account. When you lease a piece of equipment, you’re essentially renting it while making payments for the duration of the lease agreement. Our equipment financing not only gives ownership of the equipment to your business but the equipment also usually serves as collateral for the loan.

We know that equipment is essential to keeping many businesses going, and if you use large equipment, or need multiples, it can tie up a large amount of your working capital or credit. Whether your business has one or several equipment needs, equipment financing is a way to have that equipment right when you need it, even if you do not have the full cash on hand.

Choose an equipment finance company that works in your industry and understands your unique needs for the best results and approval rates – like Probably! We specialize in equipment financing for small businesses in multiple industries, and we can say ‘probably yes’ to your equipment needs.

Contact Probably for the Best Small Business Financing Option for You!

Most banks won’t even consider helping smaller or newer businesses but Probably wants to work with you to help you grow regardless of your age or credit history. That’s why we offer small business financing options that can work for anyone.

We think that every business deserves the chance to get the funding they need to succeed – and we’ve made our business out of believing in them!

Contact Probably today to learn more about our small business financing options and how they can work for you.