What happened when J.P. Morgan (JPM) bought the assets of Bear Sterns? Rumor has it they inherited a huge short position in the Silver market. That would be great, except the price of silver has more than doubled since J.P. Morgan bought the investment bank.
This may be the time to take one step back to move two steps forward. Over the past 5 years companies made fortunes writing loans. In times like these it is necessary to invest some of that money back into your business in preparation for the next tidal wave of refinances- which will eventually come. Now is the time to act out of inspiration, not desperation.
When you are a small business, every penny that you can save is going to be critical toward making your business a thriving and successful endeavor. Small business software can do the job just as well and for a fraction of the cost. A payroll outsourcing program like QuickBooks can be had for around 20 dollars a month.
That is, you have to be entitled to your car. When you take out an auto loan, you basically put your car title up in exchange for money. What’s beneficial about this option is that you still own the car, even though its title is on loan.
You could reduce overhead by firing employees. You could recruit people for minimum wage to lower your payroll jobs. You could buy toilet paper at Sam’s Club instead of Charmin to reduce your expenses, etc.
A great movie quote from a comedy that was actually a lot more realistic a depiction of modern army life than Full Metal Jacket. Just as Bill Murray and Harold Ramis said this to the Army recruiter in the film, I actually said this to my recruiter when I enlisted (before the days of don’t ask don’t tell). I said it without even thinking, and luckily he laughed and told me he had seen the movie as well. It was ultimately the only thing the jackass didn’t lie about.
Looking at the economy from the standpoint of the citizens, we see congress embroiled in their usual pursuits while the welfare of the country seems to be neglected. Will the economy get worse, will our jobs be in danger? We don’t know.
Your business holds a future by consolidating your debt and lowering your debt payments until business improves. Nobody wants to go into bankruptcy. Get the assistance you need and keep your business afloat.