There’s plenty of differences between small, mom and pop shops and midsized to large business and corporations. However, the only thing they all have in common as of late, is that all are feeling the harsh sting of the COVID-19 outbreak.
So, what can be done? That’s a good question. At this point, until fears settle and infection rates hopefully drop, all businesses can do is weather the storm. The Trump administration has already proposed the Payroll tax cut that is currently being debated.
In the meantime, Fingercheck has announced new, flexible payroll financing terms for clients to help alleviate the pressure small business owners are likely facing. “We did this to make it easier for business owners and the hourly wage earners who work for them in this tough climate”, said Fingercheck CEO, Joel Kohn. Fingercheck, along with partners, Infinity Capital Group, have rolled changes believed to help smaller businesses get through this period.
Financing changes include:
• Term rates doubled from 4 to 8 weeks
• New payback installment options, avoiding lump sum re-payments
• Same-day approvals – making funds available faster.
Of course, only time will tell how this pandemic will play out. But giving small business options is a step in the right direction. If anything is certain, it’s that the economy has always shown resiliency and like the vast majority of those who have with COVID-19, will recover. To learn more about how payroll financing can help, visit our financing page or contact Fingercheck directly.