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: \tIt’s a flexible-use source of funding. You could use it to buy equipment related to your next product launch or simply buy cupcakes for a customer appreciation day. \tYou access a set amount of money rather than borrow a fixed amount. Are you approved for $20,000 but only need $5,000? Great—make your $5,000 purchase and only pay interest on the amount you actually used. \tIt’s a revolving amount. Just like your business credit card, you can re-access the funds (up to your approved limit) at any time. \tYou can usually withdraw cash fee-free from a business line of credit. 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 Protocols “Safety is job one” applies to every type of business as they reopen. It doesn’t matter if your business is a restaurant, retail storefront, or office space. Your customers, employees, and even your suppliers want to know that their safety is your priority. As you redesign your space, a business line of credit can help you to: \tInstall ultraviolet cleaners or HEPA filtrations \tPurchase hand sanitizer \tEstablish plexiglass barriers 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. Marketing 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: \tThrow a grand reopening party and purchase prizes and decorations. \tForm an alliance with another business to draw in new customers. \tEmbrace social media marketing. For example, if you want to increase your followers on TikTok, use your line of credit to take a class on “how to make better videos.” \tHire a consultant to implement an email marketing strategy that includes hyper-personalizing your digital interactions. Your emails can go beyond “Hello, Pam” to target Pam’s exact needs based on past purchases and browsing behavior. 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. Accommodate Your Employees 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: \tReorient office desks for 1-way traffic \tRevamp the break room to include a hands-free coffee maker \tImplement new cybersecurity software to facilitate remote work 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. Restaurant Revisions 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: \tCreate contactless menus \tUpdate their website to offer online ordering \tConvert an outdoor space to a dining area \tOffer on-demand delivery service Running a restaurant isn’t easy even in usual times, so seize the opportunity to reopen in a way that maximizes your success. Retail Upgrades 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: \tImplement safer in-store shopping techniques like concierge shopping services and virtual try-on options \tLaunch a new product—ask your most engaged customers what they need, and they’ll tell you \tUpgrade your website to encourage online customers to complete purchases rather than abandon their shopping cart \tRevise your digital marketing strategy to capture Generation Z’s attention 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. Take Advantage of a Business Line of Credit 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.