Reopening a business post-pandemic isn’t for the faint of heart: it requires energy, time, and—of course—money. Fortunately, a business line of credit can help with unexpected costs so you can efficiently reopen your business and turn your attention to your customers.
If you’re unfamiliar with a business line of credit, here’s a high-level overview:
Maybe you’ve already used a line of credit as a safety net or to get through a slow business period. But there are many ways it can help with unexpected reopening costs, too.
“Safety is job one” applies to every type of business as they reopen.
As you redesign your space, a business line of credit can help you to:
The flexibility of a business line of credit means it’s not limited to an either-or solution—you can purchase both the materials and the services you need to implement safety protocols.
For example, do you have a maintenance person who can install physical barriers for you? Great—use your business line of credit to purchase plexiglass sheets. But if you need to hire someone to install the plexiglass, you could use it for their fees, too.
Post-pandemic customers aren’t as loyal as they used to be. That means you should retool your marketing strategy to attract new customers and retain your existing ones.
You can up your marketing game by using a business line of credit to:
You can try cost-effective marketing moves first, but be prepared to use your business line of credit to take your marketing strategy to a post-pandemic level.
Reopening means accommodating your employees—whether that’s retrofitting workspaces or implementing new digital software for remote employees.
As workers return to the office or you implement a hybrid work model, a business line of credit can help you to:
Employees are grieving the losses of the past year. Anything you can do to support them and alleviate stress in the workplace could significantly improve employee morale.
Reopening a restaurant means implementing safety protocols, revamping dining areas, and providing customers with what they want.
Restaurant owners could use a business line of credit to:
Running a restaurant isn’t easy even in usual times, so seize the opportunity to reopen in a way that maximizes your success.
Online shopping is here to stay, which means more competition for both in-store and online retail customers.
Fortunately, your retail business can use a line of credit to:
The retail landscape has changed—what consumers buy, how they buy it, and what they expect from a shopping experience have all shifted. Therefore, reopening your store requires more than just unlocking your shop’s front door.
While there may be guidelines for the reopening expenses your business could incur, there certainly isn’t a definitive roadmap. Reopening a business is a windy, twisty road full of unexpected bumps.
Use the flexible financing of a line of credit to steer your business to success. Get started today to see how easy it can be to qualify and apply for a business line of credit.