FINSYNC was included in this piece published by CNBC.com on May 4, 2020.
A credit card can keep your small business afloat when cash flow is interrupted or the economic future is unclear, as many are finding out during the coronavirus pandemic.
The federally-funded Paycheck Protection Program (PPP) dried up on April 16 and was replenished on April 24 with an additional $310 billion in forgivable loans — but it still may not be enough.
Facing unexpected cash flow issues amid the unprecedented economic downturn, small business owners are scrambling to find resources to help them stay afloat and prepare for what may be years-long economic recovery.
Many, like Bobby Warren of Wooster Media Group, look to credit cards to mitigate the current dip in revenue.
“I paid some freelancers [this month] with my credit card in order to keep my business checking balance a little higher,” Warren tells CNBC Select. This helped Warren avoid late charges on what he owed, even as he was waiting on outstanding payments himself.
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