{"id":3486,"date":"2020-07-14T13:43:41","date_gmt":"2020-07-14T13:43:41","guid":{"rendered":"https:\/\/www.indifi.com\/blog\/?p=3486"},"modified":"2020-07-14T13:43:52","modified_gmt":"2020-07-14T13:43:52","slug":"how-to-manage-the-shortage-of-credit-during-lockdown","status":"publish","type":"post","link":"https:\/\/www.indifi.com\/blog\/how-to-manage-the-shortage-of-credit-during-lockdown\/","title":{"rendered":"How To Manage The Shortage Of Credit During Lockdown?"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" loading=\"lazy\" width=\"322\" height=\"300\" src=\"https:\/\/www.indifi.com\/blog\/wp-content\/uploads\/2020\/07\/Shortage-Of-Credit-During-Lockdown-1-322x300.jpg\" alt=\"Shortage-Of-Credit-During-Lockdown\" class=\"wp-image-3488\" srcset=\"https:\/\/www.indifi.com\/blog\/wp-content\/uploads\/2020\/07\/Shortage-Of-Credit-During-Lockdown-1-322x300.jpg 322w, https:\/\/www.indifi.com\/blog\/wp-content\/uploads\/2020\/07\/Shortage-Of-Credit-During-Lockdown-1.jpg 623w\" sizes=\"(max-width: 322px) 100vw, 322px\" \/><figcaption>Shortage-Of-Credit-During-Lockdown<\/figcaption><\/figure>\n\n\n\n<p>The unfolding of the novel coronavirus around the globe has resulted in decreased income, shortage of labour, and reduced demand, majorly because of the lockdown. It has had an adverse impact on businesses. Most of them are finding it tough to stay afloat because of low cash-flows and disrupted finances. There are some options that can come in handy and prepare you for recovery from these tough times.<\/p>\n\n\n\n<p>Read on to know about the ways that help you in overcoming credit shortage during the lockdown &#8211;\u00a0<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_67_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.indifi.com\/blog\/how-to-manage-the-shortage-of-credit-during-lockdown\/#To_Manage_The_Shortage_Of_Credit_During_Lockdown\" title=\"To Manage The Shortage Of Credit During Lockdown \">To Manage The Shortage Of Credit During Lockdown <\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.indifi.com\/blog\/how-to-manage-the-shortage-of-credit-during-lockdown\/#Leverage_the_virtual_working_system_to_keep_your_business_going\" title=\"Leverage the virtual working system to keep your business going:\u00a0\">Leverage the virtual working system to keep your business going:\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.indifi.com\/blog\/how-to-manage-the-shortage-of-credit-during-lockdown\/#Fulfill_your_cash_shortages_with_short-term_loans\" title=\"Fulfill your cash shortages with short-term loans: \">Fulfill your cash shortages with short-term loans: <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.indifi.com\/blog\/how-to-manage-the-shortage-of-credit-during-lockdown\/#Adapt_to_the_changing_trends_in_consumer_demand\" title=\"Adapt to the changing trends in consumer demand:\">Adapt to the changing trends in consumer demand:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.indifi.com\/blog\/how-to-manage-the-shortage-of-credit-during-lockdown\/#Continue_to_promote_your_products_services\" title=\"Continue to promote your products\/ services:\">Continue to promote your products\/ services:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.indifi.com\/blog\/how-to-manage-the-shortage-of-credit-during-lockdown\/#Learn_about_the_financial_assistance_programs_launched_by_the_government\" title=\"Learn about the financial assistance programs launched by the government:\u00a0\">Learn about the financial assistance programs launched by the government:\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.indifi.com\/blog\/how-to-manage-the-shortage-of-credit-during-lockdown\/#Request_for_a_grace_period_from_your_suppliers_and_landlord\" title=\"Request for a grace period from your suppliers and landlord:\">Request for a grace period from your suppliers and landlord:<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"To_Manage_The_Shortage_Of_Credit_During_Lockdown\"><\/span>To Manage The Shortage Of Credit During Lockdown<br><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Leverage_the_virtual_working_system_to_keep_your_business_going\"><\/span>Leverage the virtual working system to keep your business going:\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Most parts of India are under lockdown. The businesses dealing in &#8220;non-essential&#8221; items are facing the worst hit, and to top that off, various restrictions are making things even more difficult. While these strict rules and restrictions are crucial for the health of the public, they have a huge impact, especially on small businesses, as they depend on in-person sales. Though lockdown breaks the chain of virus spread, it has had a severe effect on the cash flow of small businesses.\u00a0<\/p>\n\n\n\n<p class=\"has-text-color has-vivid-cyan-blue-color\">Also Read: <a href=\"https:\/\/www.indifi.com\/blog\/how-are-payments-managed-on-swiggy\/\">How Are Payments Managed On Swiggy?<\/a><\/p>\n\n\n\n<p>The good part is that you can take advantage of technology to meet the requirements of your customers. This solution will not only generate revenues but also sort your financial issues. For example, training sessions can be conducted on live-streaming apps, dental or veterinary services can be provided via video conferencing or phone. However, you can consider in-house appointments in emergency cases. These short term solutions are ideal for generating some income and ensuring cash flow.<strong>&nbsp;<\/strong><br><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Fulfill_your_cash_shortages_with_short-term_loans\"><\/span>Fulfill your cash shortages with short-term loans: <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>There are several venture capitalists like Indifi that offer credit or short-term loans to medium and small scale businesses without collateral. The top companies ensure easy documentation and a hassle-free and quick process of loan acquiring. Moreover, the complete procedure is customized according to the needs of the business owners.\u00a0<\/p>\n\n\n\n<p class=\"has-text-color has-vivid-cyan-blue-color\">Also Read: <a href=\"https:\/\/www.indifi.com\/blog\/how-are-payments-managed-by-zomato\/\">How Are Payments Managed By Zomato?<\/a><\/p>\n\n\n\n<p>Since the source of stable income has become challenging in this unforeseen period of crisis, the aspect of minimal documentation gives a little ease to the businessmen. You don&#8217;t have to deal with &#8216;too much&#8217; to cut the credit crisis.&nbsp;<br><\/p>\n\n\n\n<p>Additionally, venture capitalist firms offer the benefits of flexible repayment to their clients. You can use this credit for inventory management or working capital. These types of loans are an ideal option for both small and big businesses.&nbsp;<br><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Adapt_to_the_changing_trends_in_consumer_demand\"><\/span><strong>Adapt to the changing trends in consumer demand:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The coronavirus pandemic has changed customer behavior drastically. Most likely, the requirements of your customers would have shifted too. So, embrace the change and give people the products and services they are looking for at present. Look for hacks to elevate your sales level in this critical time. <\/p>\n\n\n\n<p class=\"has-text-color has-vivid-cyan-blue-color\">Also Read: <a href=\"https:\/\/www.indifi.com\/blog\/how-does-flipkart-manage-its-customer-payments\/\">How Does Flipkart Manage Its Customer Payments<\/a><\/p>\n\n\n\n<p>A reboot strategy could save you from losing out customers to your competitors. Keep track of the preferences and needs of your customers and act accordingly. Chart out a plan that can be implemented in this critical hour to get the best out of the sales funnel.&nbsp;<br><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Continue_to_promote_your_products_services\"><\/span>Continue to promote your products\/ services:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Spread the word via social media or email. It&#8217;s time to use the email addresses of the customers available to you. Alternatively, you may figure out ways of offering your services through the virtual model. Promote your brand and email your prospects, informing them about your new products and services.&nbsp;<br><\/p>\n\n\n\n<p>If you are shutting down your business temporarily promote things like gift cards without mentioning the expiration date. It is one of the best solutions to meet your cash flow requirements. Clients can reap the benefit of these once the lockdown is lifted, and you reopen your business.<\/p>\n\n\n\n<p class=\"has-text-color has-vivid-cyan-blue-color\">Also Read: <a href=\"https:\/\/www.indifi.com\/blog\/management-of-working-capital\/\">Simple 3-Step Guide For Effective Management Of Working Capital<\/a><\/p>\n\n\n\n<p>Besides, you can promote the new offerings of your brand on social media platforms. Reach out to your followers and keep them posted with regular updates. Doing so will keep your customers informed about the current status of your business. It is one of the best ways to engage your customers even if they can&#8217;t visit your store in person.&nbsp;<br><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Learn_about_the_financial_assistance_programs_launched_by_the_government\"><\/span>Learn about the financial assistance programs launched by the government:\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Understanding the current state of businesses, the government has come up with various financial assistance schemes that can help in combating coronavirus outbreak fallout. Gather details about the national, state, and local assistance programs launched by the government to help medium and small businesses, such as the COVID-19 Startup Assistance Scheme (CSAS).&nbsp;<br><\/p>\n\n\n\n<p>The program is introduced to provide financial stability and assistance to new businesses. They can reap direct benefits from this scheme as it will provide quick access to the working capital.&nbsp;<br><\/p>\n\n\n\n<p>Several similar schemes have been introduced by the government to support companies whose liquidity and cash flow have reduced drastically due to the pandemic. Brands can use such programs to meet their working capital needs, such as administrative expenses, salaries, payment to suppliers, rent, etc.\u00a0<\/p>\n\n\n\n<p class=\"has-text-color has-vivid-cyan-blue-color\">Also Read: <a href=\"https:\/\/www.indifi.com\/blog\/easy-and-low-cost-marketing-tactics-for-smes\/\">Easy And Low-Cost Marketing Tactics For SMEs<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Request_for_a_grace_period_from_your_suppliers_and_landlord\"><\/span>Request for a grace period from your suppliers and landlord:<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>These unforeseen circumstances have adversely affected the cash flow; hence, it is becoming tough for people to meet their liabilities. The solution is to reach out to your supplier, landlord, and vendor, and request some leniency in the payment terms. It is one of the most ideal ways to deal with the revenue shortage. Things can turn easier if your supplier\/ landlord offers a grace period. Or, you may ask for some discount on the supplies or rent of the property.<br><\/p>\n\n\n\n<p><strong>Concluding Word&nbsp;<\/strong><br><\/p>\n\n\n\n<p>So, this was all about the essential tips that you can bring into practice to keep your business running and maintaining healthy cash flow in this tough hour of the pandemic. From small to large, businesses of all sizes have been affected.&nbsp;<br><\/p>\n\n\n\n<p>The lockdown has made the going even harder. But, instead of focusing on the adverse, we need to focus more on the solutions to ease cash flow problems. We need to alter our working style and adapt to the changing scenario. Look for potential alternatives for revenue generation. Understand the market condition and work accordingly. Most importantly, be patient, it&#8217;s going to take long for the market to recover. Don&#8217;t expect an instant surge in the demand when the lockdown is lifted completely.&nbsp;<br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The unfolding of the novel coronavirus around the globe has resulted in decreased income, shortage of labour, and reduced demand, majorly because of the lockdown. It has had an adverse impact on businesses. Most of them are finding it tough to stay afloat because of low cash-flows and disrupted finances. There are some options that [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3488,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[141],"tags":[],"_links":{"self":[{"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/posts\/3486"}],"collection":[{"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/comments?post=3486"}],"version-history":[{"count":1,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/posts\/3486\/revisions"}],"predecessor-version":[{"id":3489,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/posts\/3486\/revisions\/3489"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/media\/3488"}],"wp:attachment":[{"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/media?parent=3486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/categories?post=3486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/tags?post=3486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}