Beyond the Paycheck Protection Program and the Small Business Administration, businesses need money. But what if you can’t get a PPP loan? For example, if you own a cannabis business, a casino or a racetrack, you’re out of luck. You might even find, as you look through all of the requirements for PPP loan forgiveness, that you don’t want to bother in the first place.
Related: SBA Releases New EZ PPP Loan-Forgiveness Application
Now, the next iteration of the program is tied up in Congress, but your business still needs money. What do you do? You look elsewhere for a loan. Here’s where to start.
Many business owners look to their bank or credit union first, but check out alternative lenders like Kabbage. Often, these lenders have less stringent qualifications, so a bad personal credit score isn’t necessarily a handicap. However, their rates may be higher than standard