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How CMCA Can Help Small Businesses During the Coronavirus Pandemic

Businesses around Canada are trying to adapt to the new normal that has resulted from the coronavirus pandemic. People have had to change the way they do business in almost every conceivable way. Non-essential businesses have been shuttered and only able to do business online. Other businesses are allowed to do curb-side pickup, but still not have anyone in their physical stores. Even as certain elements of the lockdown begin to get lifted, we still see that it will be a long time before we begin to approach something like business as usual again.

So many small and medium businesses have been placed in a no-win situation and they are trying to figure out how to stay in business and stay afloat during these trying times. For many, it has required them to change their business model by going online and doing much of their business through eCommerce. Others have had to shut their doors completely and may be unsure about their ability to reopen when all is said and done.

The Canadian government has instituted several programs that are designed to help small and medium-sized businesses stay financially solvent during the pandemic as well as to help them retain their employees. This is a great help, but for many, it simply isn’t enough. Especially if they are having to invest in new equipment and materials to help them maintain an online presence or keep their establishments safe for the employees who are still working.

Lenders like Canadian Merchant Cash Advance are still open and able to help small and medium businesses weather this storm and provide them with the capital they need to keep their business running and to get what they need to maintain operations while keeping their employees and customers safe. With a merchant cash advance, you can get access to the cash you need, at fair and reasonable terms, with repayment options that are tied to revenue and thus don’t put the same financial burden on business owners that a traditional loan does. 

With private financing options available to small- and medium-sized businesses, it has been made easier to weather the storm of this coronavirus pandemic. The government provides a wide range of financial options that help businesses stay solvent and even keep their employees on and earning wages, whether they can work or not. This helps to ensure that businesses remain open and that workers have the peace of mind that their jobs will still be there when all is said and done.

As some restrictions begin to ease, people are adapting to a new way of life that is much less dense and far more protected. This also applies to businesses who are tasked with maintaining operation but also keeping everyone safe in the process. Whether you are maintaining an online presence, doing curbside service, or are completely shut down, take advantage of the financial help – both public and private – available to business owners to help them as best as possible during these difficult times.

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