Is Financing the Key to Curbing Inflation for Small Business?

It’s no secret that inflation is making life tougher for everyone – including small business owners. While we’re still not at the levels of the 1970s (anyone else old enough to remember “Whip Inflation Now”?), that’s little consolation for businesses still working to get back on their feet after pandemic shut downs and supply chain disruptions.

While the price of goods regularly fluctuates, maintaining a consistent cash flow can ease the impact of ebbs and flows in costs. One of the approaches, which is what the CNBC article below discusses, is financing. 

Now, depending on how long this current inflationary period lasts, you may not need something long term, like an SBA loan. A financing option that’s more in the moment, like a line of credit or cash advance, could be sufficient (as a bonus: both of those types of financing fund pretty quickly after approval — in some cases, within a day).

BTW, when you read the CNBC article, pay particular attention to the section that advises small businesses to “seek loans from a variety of sources.” We obviously couldn’t agree more—this is one of the driving forces behind Lendio. Our single application, which takes about 15 minutes to complete, puts your information in front of more than 75 lenders, and each of those lenders has a unique set of financing options, terms, requirements, etc. You, as a small business owner with plenty of other things on your plate, however, are only applying once. That means you’re not running all over town or all over the Internet filling out new applications with the same information.

Also, one more thing to consider: if you appreciate the personalized attention that’s sometimes missing with online lenders, know we do, too. So after your application is approved, we hook you up with one of our financing gurus who can explain everything to you and answer your questions so you’re not left guessing if you’ve made the right decision.

Here’s the article:

On Main Street, the need to take on more debt is rising with inflation