Funding Your Business in Challenging Times

Funding Your Business in Challenging Times

3 Tips to Perform Now

Unprecedented times combined with inconceivable uncertainty probably have you asking some big questions about your business right now. Revenues are likely to decline in most sectors in the coming weeks. While the source of the economic pain is expected shorter-term in duration, the recovery for most businesses will take far longer. Now is the time to ensure sure your business has access to mission-critical funding.

In 2008, traditional lenders struggled to meet the capital needs of many businesses in part due to the stress of their balance sheets. This time, they are more durable than ever, but their underwriting approaches remain the same. Traditional lenders look to historical trends in revenues and profitability as a mechanism of determining how much to lend or even if you qualify. Because of this, current trends may limit your access to funding when you need it most.

But it doesn’t have to be this way. Here are three tips to enact now while seeking funding under challenging times:

    1. Build an expense management plan: While important not to panic during decision making, it is essential in these times or at any time where revenues face strong and urgent headwinds to examine your cost infrastructure. Having a plan to cut costs may be as crucial to many lenders in an environment where sales are under pressure than your historical financials or credit history.
    2. Identify urgent capital expenditure needs: For many businesses, rapid change brings immediate needs for equipment or technology to support changes in the business approach. For example, technology can help reduce salary expense and used equipment can improve cash flows over new equipment.
    3. Expand your access to capital: If you’ve heard us say in the past that having all your lending relationships at one bank can lead to challenging circumstances—difficult times like these are a primary reason why. Explore funding conversations with specialty partners and likely more flexible programs.


For decades, TimePayment has helped companies acquire equipment and technology needs in a faster and more flexible way. As a leading FinTech leasing company, we’ve helped businesses get through challenging times in the past, and we’re here for you in these times as well.

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