Businesses are becoming concerned about money. Luckily, your business is not alone in this. The U.S. Small Business Administration is offering federal disaster loans for working capital to eligible small businesses. Other businesses are eligible for reduced interest lines of credit or other aid from private financial institutions. Before approaching any of these, it is important to be prepared. If you think you may need one of these, begin gathering your most recent federal income taxes, personal financial statements, three years of income, balance sheet, and cash flow documents, your business plan, and a schedule of your current liabilities and expenses. Reach out to your local SBDC, accountant, or Polaris to discuss what the best next steps may be and learn about potential eligibility.
