Pandemics don’t just affect our health, they rip through our economies, families and our lives. Covid-19 or the Novel Coronavirus, which was first reported in the Chinese city of Wuhan in late 2019 has so far infected over a million people globally and has not stopped spreading like a furious wild fire. The speed at which the crisis had taken hold of economies all over the world would have a profound impact on people’s ability to think about the future in an optimistic way. Without swift government action and stimulus package, millions of people will be left destitute as the economy grinds to a halt.
Bridge Loans for Those With Excellent Credit
Licensed lenders including banks have come up with different loan packages like personal loan, business loan, mortgage bridge loan and much more with affordable interest rates to assist those affected by the pandemic and lockdown. For many people affected by the coronavirus, including those who are not ill, economic survival will be a primary concern. When businesses are forced to shutter and workers are either laid off or forced to take unpaid leave, the bills for unpaid rents, mortgages and consumer loans quickly accumulate. Borrowers with excellent credit standing would most likely have no issues getting bridge loans and other types of loans. For those with no credible credit backing them up would have to resort to unlicensed money lenders, that have risks tied to the personal loan.
Most cities have already shut down swaths of their transport services, shops, shopping malls, restaurants, entertainment centers and cinemas. The small and medium sized entrepreneurs, daily wage workers and temporary workers, and households that live pay-cheque to pay-cheque, don’t have such buffers to tide them through. If there’s no immediate help from the government, these group of people will have to resort to small business loans, revolving credit, student loans, installment loans and hard money loans for continuity of life.
Private Money Loans Allow You To Expand Your Business
The fight against the unprecedented Coronavirus pandemic is the most daunting challenge faced by humanity and needs to be fought collectively by nations, governments, organizations and individuals. While we individually do our best to keep ourselves and each other safe by staying at home and practice physical distancing, this is also a time for all of us to come together to defeat this common deadly invisible enemy. As countries all over battle an economic crisis amidst the COVID-19 pandemic, at North Coast Financial, they have a range of loans to offer to creditworthy borrowers to help them rebuild, sustain or expand their businesses.
This pandemic is hitting a world economy saddled with record levels of debt. If you are a business owner who’s been riddled with a sudden stop in your cash flows and are struggling to pay loans, staff salaries and rental, take quick remedial action to resuscitate your business. Look up for hard money lenders California near you and arrange for a meeting with the staff to get the much needed financial assistance that you need to keep your business afloat and profitable again.