To weather the COVID-19 drought, small businesses need to expand credit now

Right now, every small business owner needs every dollar they can get their hands on. Whether you currently need money or not, it’s time to improve your credit score and increase your credit limits.

Let’s be realistic. COVID-19 didn’t magically disappear with warmer weather and infections are once again on the rise. Consumers won’t return to normal until they feel safe. That won’t be soon. It will take widespread use of a vaccine — which, even optimistically, won’t happen until sometime in 2021 — or widespread testing. Since the president opposes widespread testing, that means small businesses face many months —perhaps a year — before customers come back to pre-pandemic levels, and we may be facing a sustained recession.

Read Full Article>>>

You may also like