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  • Taylor Hicks

COVID Rampant in Your Area? 4 Reasons Your Biz Needs Extra Working Capital

As a business owner, there's onus on you to look out for the safety of your employees, your customers, and of course your own family. That's a LOT of responsibility, and it's one you didn't necessarily know you'd be signing up for when starting your company.


Having quick access to future funds is especially important in the current climate as businesses learn to adapt to evolving health and safety standards. As we continue navigating COVID-19, it is pertinent that you keep these 4 expenses in mind when considering your business funding needs.


1. Routine facilities cleaning. Hiring a licensed commercial cleaning company is an important health and safety precaution. Licensed cleaners have the materials necessary to ensure your workplace, and the equipment, machinery and supplies within, are properly sanitized and disinfected on an ongoing basis.


2. Sanitary supplies, such as hand sanitizer, soap, masks, no-touch trash cans, contact-less thermometers, etc. Though many customers and employees are carrying their own, it is important that you, as an employer, are providing these supplies as well. Taking proper sanitary precautions reduces spread of the virus, so these supplies should be a financial priority.


3. Safety education and training materials. Your employees likely have not had to navigate work life in a pandemic before. They may need a little extra guidance on safety best practices. Whatever guidelines your business is abiding by, it's best to ensure there's proper documentation and training materials readily available for your team members. If your expectations are well-documented and well-defined, that will ultimately lead to a healthier work environment and less ambiguity and anxiety for your employees.


4. Added sick time for employees. According to the CDC, current policies for sick time should be flexible and non-punitive. When your employees aren't feeling well, they should stay home. However, many employees will continue coming in even when they're not feeling well to avoid burning through their sick leave. Giving your employees a few added sick days will encourage them to call out of work when they're truly feeling ill. It's always better to be safe than sorry.


I know, I know...

These items are not cheap, and they're certainly not easy to accomplish – especially since finances have been tight for so many business owners this year. We might have a solution for you, though.


We’re a direct funder that specializes in Merchant Cash Advances (MCAs). An MCA is not a loan – it’s simply a way to get access to your future sales immediately. Merchants often pursue MCAs to help cover emergencies and other urgent business needs that arise.


Business owners, we salute you and the leadership you've demonstrated through this setback. It's a hard time to own a business, but so many of you have been going above and beyond to ensure safety and well-being for those in your lives. What you're doing is honorable, and our goal is to help you help others.


At Elevate Funding, transparency and honesty are at the core of what we do. When you select us as your funding provider, you are placing a safe bet on your financial future. We want to see our merchants succeed, and we will do everything in our power to work with you on your specific needs.


If you need funding and wish to speak to someone now, please call us at 888-382-3945 or click here to send us an inquiry. One of our teammates will get back to you as soon as they are available.

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