Bootstrapping is figuring out how to reduce the cash you need to start, by eliminating any unnecessary overheads while finding out who will give you a hand.
All in Planning
Bootstrapping is figuring out how to reduce the cash you need to start, by eliminating any unnecessary overheads while finding out who will give you a hand.
Before you go down the path of seeking capital from outside your business or borrowing funds, identify any other ways of raising capital. If you need funds then sometimes it’s not a loan that you need.
The CARES Act has many helpful provisions for small businesses, which the Senate Committee on Small Business and Entrepreneurship details in this helpful guide. The CARES Act also expanded eligibility requirements for disaster relief loans from the SBA to make it easier for small businesses to access the funds they need to stay afloat.