How to Secure an Alternative Loan if You’re Running out of PPP Funds

The PPP, or Paycheck Protection Program was a way for businesses to stay above water during some of the beginning stages of the COVID epidemic. Unfortunately, the loan had limits to it, and many businesses are looking for alternative ways to stay alive. Fortunately, there are plenty of excellent options for this that exist and that can help save your business if you were relying on PPP earlier.

PPP Overview

If you got a PPP loan and are worried about running out, this is only one of the things that you have to worry about since the program puts you in charge of keeping track of all the expenses you used the money for as well. One of the reasons why PPP loans were so helpful is because they covered sick leave to a certain degree in addition to paychecks in general.

PPP and Why You Need to Start Looking Elsewhere

Even if you aren’t quite out of PPP money, you definitely need to find other sources of loans if you were thinking that you can draw from it again when you start getting low on funds due to the disruptive force of the pandemic.

This is because the Paycheck Protection Program closed as of August 8, 2020. So, for businesses that used this in the past and were hoping that they could continue to do so during this difficult time, this is no longer necessary.

Many thousands of businesses are in the process of running out of PPP right now, and it’s definitely time to start thinking about other options regardless of whether you’ve run out or not. There is plenty of reason to doubt that the economy will recover enough to be like it was before March 2020 any time soon, and even if you’re hopeful about this, just about everyone agrees that the times we live in are unstable enough that you can’t count on ending up in the old economy for sure, at least not for a little while.

Thinking About a COVID-altered Future

If the PPP is running out, it’s the immediate present that businesses have to worry about, but it’s also the future as well. The global economy is predicted to shrink by 3% this year, and in some sectors that will obviously be much worse. If a particular business is reliant on an aspect of the old world that hasn’t recovered yet, then both the present effects and the long-term effects when it comes to a few months or longer could be severe.

This doesn’t mean that all is lost, but it does mean that companies are going to have to focus on survival for the moment and for the foreseeable future. Time is an excellent resource in terms of fostering recovery.

If you can secure an alternate loan to keep the wolves at bay, for now, there is every reason to believe that one of a couple of things may happen-

  • The present situation could turn in your favor- This means that whatever aspect of COVID is giving you trouble could change in some way. This could take the form of more stimulus bills by the government, other types of government effort, help from other organizations, change in laws, and so on.
  • You could figure out a way around the problem-Whatever is getting in the way of you securing the kind of revenue you received before if you have enough time to think about it and try things, you could solve the problem. For example, if you relied on in-person sales before, maybe there’s a way to deliver the same services or products to your customers instead. Or, alternatively, maybe there’s a way they can get access to them without delivery that will work. Many companies are using options like the CDC guidelines to be able to conduct business in a way that’s safe given the new realities of the situation.
  • A combination of various options-Maybe a business is able to find a way to take their company in a new direction that allows them to stay open. While COVID is closing some traditional means of earning revenue, it is also sometimes opening up more. For example, since many people are staying indoors now to stay safe, Internet sales have skyrocketed. People buy more masks than they did before. Delivery companies are booming.

In general, at the end of the day, the name of the game is survival. If you can find a way to come to an agreement on alternative loans to keep the doors open for longer, then anything can happen. PPP may have worked for a while, but now it’s time to find something else.

Alternative Ways to Secure Loans

Companies like Moby Capital make it easier for businesses to secure the funding they need to not only survive but thrive. It doesn’t matter what industry you’re in, Moby can help with all of them.

A company like this one can help with-

  • Business lines of credit
  • Merchant cash advances
  • Term loans
  • Invoice factoring

Since effective companies like this one have so many options, it allows the team assigned to aid a borrower to be flexible in figuring out exactly what parts of a client’s business could be most helped by this process.

The max limit of $5 million for business capital is more than just about any other company working within the sector of flexible and alternative lending options.

Finding the Right Company

It’s important to find the best company you can to help you with these alternative loans when PPP isn’t enough anymore. Moby Cap has the following advantages that make them an excellent choice.

Easy to Navigate Site

If you want to go straight to securing the funds you need, there’s a link at the top right of our site, so that you don’t have to wait if you’re sure about what you need to survive and thrive. There’s also an option to “apply now” if you need to put in an application, and that will take you right to the basic information you need. There are stars next to the forms that are required to make it easier to fill out fast and accurately. It’s no more than a page or two.

Secure Funds Quickly

After you fill out the application, you can speak to a business expert from Moby. After that, you can receive your funds as quickly as a single business day. With your PPP funds completely gone or almost gone, you should gather the money you need to pay your workers and thrive as quickly as possible so that no complications end up popping up and making it even more difficult to keep your business moving.


The company has decades of experience, and even over just the last decade, they’ve managed to secure $1 billion for their customers. This makes it a solid option for those business owners who need help right now and need to have nothing go wrong during these tumultuous times.

Many companies with less experience or fewer financing options or even fewer possible dollars to contribute to a loan will have even more trouble helping you if they have less experience.

Other Benefits

There are a number of customized funding options available, making it more likely you’ll find what you need.

Additionally, there’s a dedicated team handling customer service for each customer, that way, you’ll know that you’ll get a plan that works specifically for you. Customization means that there’s a higher likelihood of the plan working then there would be if it was more of a one size fits all type of approach.

There are also a number of locations throughout the United States where you can visit offices. This is convenient since it means that no potential customer will have to move too far to get to an office in order to speak with an expert in person about what might be one of the most important actions you ever take to make sure your company gets the best chance possible to survive and excel despite whatever tough spot that you might be in at present.

Getting Started

If you’re running out of money from the PPP loan program from the government now that it’s ending, it’s important to look into a new loan sooner rather than later if you need it. The current situation has its difficulties, but it also has its opportunities.

Moby Capital has decades of experience across their team, and it’s possible to locate the loan you need as quickly as a single day, depending on the situation. If you have a new plan for your business and just need the funds to get it moving, or the funds for surviving the storm, then right now is the best option to inquire about funding.

Whatever window you’ve noticed in the current marketplace for your industry, it may not last forever. The sooner you contact us, the sooner we can go ahead and help you out with your timely loan.

Nothing to Lose

There are no commitments and no hard credit checks so there’s nothing to lose. There’s no downside to at least take a look, and you could secure a considerable amount of money if you do.

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