As Phase 2 and 3 reopening take place around the country, Paycheck Protection Program (PPP) loans are keeping untold numbers of small businesses afloat. However, complications mean that a lot of companies may either not qualify for a loan or may choose to give it back.
If you couldn’t get a PPP loan or decided to give it back, rest assured that your business still has financing options. Parabilis is able to provide you transparent, flexible, and strategic funding for any of the following needs:
- If you’ve lost a contract, we can provide you with a line of credit to fund shortfalls. This can be done in as little as two weeks.
- Getting a new contract is always great news, but up-front equipment and staffing costs may be prohibitive. We can provide the funding you need to get to the point of getting paid.
- Delayed payments are something no contractor can control. What you can control is your cash flow to never miss payroll and keep the lights on. We can support cash flow by allowing you to borrow against your existing invoices, unbilled labor, and delivery orders.
This is a tough time for contractors. Few have lost contracts, but the economic and governmental disarray which surrounds the industry is not reassuring. The rules and standards for PPP loans keep changing, creating chaos for companies which have to balance myriad internal and external considerations.
Parabilis can provide critical financial support and help you through this economic crisis. Please contact us to discuss your needs.