Reach out to your lenders:
Contact your bank or any other lenders that have a claim on your property. Ask them to defer payments or allow you to only pay interest for a period of time. Staying current on your loans is important but lenders can help you manage these cash flow challenges. Ask your lenders if they are offering any kind of short term lines of credit that will help you boost your liquidity. Contact the SBA:
The Small Business Administration has set up economic injury disaster relief programs. More information can be found on their website at these links:
- Funding programs: https://www.sba.gov/funding-programs/loans
- Disaster support: https://disasterloan.sba.gov/
Consider bringing on an investor:
While we would caution partnering with anyone, this may be a time to reach out to individuals that you trust and see if they would be interested in investing in your business. To that end, we may be able to help.