Author: Bill Fickling (TAP Financial Partners)
While COVID-19 has no doubt made life miserable for many small and medium-sized businesses, some of the issues exacerbated by the pandemic were already challenging some companies. Inconsistent demand for products, services, and shortages of labor and supplies are problematic in any economy, and threaten the long-term prospects of any commercial organization.
Owning and running a business is more than a full-time job. There’s the day-to-day, customer-focused tasks that need doing, dealing with creditors, juggling suppliers, attending to employees, and the ever-present weight of meeting the next payroll. Competitors can seem like sharks circling blood in the water.
While government programs like PPP (Payroll Protection Programs) and EIDL (Economic Injury Disaster Loans) provided short-term relief during COVID, they also came with some long-term, repayment obligations many companies were unprepared for. Other businesses took out high-risk, merchant cash advance (“MCA”) loans to weather the storm and were surprised by the difficulty paying back the high interest money.
If any of this sounds like situations your business is currently facing, know that we’ve been there ourselves, understand the challenges, and have the experience to assist businesses overcome all of these obstacles.
Whether the need is to increase revenue and decrease expenses or reduce payroll while increasing productivity, our experts know how to negotiate with lenders to reduce payments, provide more time to repay, or even write off loan shark-like debts. By consulting with those experienced in these areas, you take the first step toward relieving the pressure and stress, leading to a clearer path forward that will have you focused on what you enjoy (running your business) and not the things you don’t (running from the financial side).
TAP Restructuring has helped countless businesses, in industries as different as paper products, aerospace, medical billing, solar installations, electrical contracting, marine engine repair, and pipe fitting/welding, regain their footing. From problems that looked like they had no answers to solutions that provided outstanding returns to owners. By being in touch at firstname.lastname@example.org, you too can avail yourself to the expertise TAP provides its clients.