QuickBridge Infographic Addresses Challenges Faced by Small Businesses During the Government Shutdown

As the longest government shutdown in American history continues,
QuickBridge, a financial services firm offering
small business loans to businesses nationwide, released an
infographic on the “8 Ways the Partial Government Shutdown is Directly
Affecting Small Business.”

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The QuickBridge "8 Ways the Partial Government Shutdown is Directly Affecting Small Business" infographic statistics are based on data from a survey conducted by QuickBridge. The survey was sent to QuickBridge customers and prospects. Approximately 31 percent of survey respondents said that the shutdown is having an impact on their sales and over 30 percent expect tax refund delays and a slowdown in hiring. Roughly 50 percent of survey respondents agree that the shutdown is having a negative effect on both businesses and consumers. (Graphic: Business Wire)

Infographic statistics are based on data from a survey conducted by
QuickBridge. The survey was sent to QuickBridge customers and prospects.
Approximately 31 percent of survey respondents said that the shutdown is
having an impact on their sales and over 30 percent expect tax refund
delays and a slowdown in hiring. Roughly 50 percent of survey
respondents agree that the shutdown is having a negative effect on both
businesses and consumers. With a decrease in sales and no access to
government subsidiaries, many small businesses are worried about their
finances. Nearly 40 percent of survey respondents see the U.S. Small
Business Administration (SBA) partial shutdown having an impact on their
plans to secure financing.

The SBA serves as a key funding resource for small business owners. Not
only are small business owners unable to get a loan through the SBA
during the shutdown, but there will be a significant backlog once the
SBA is operational again. According to an Inc. report, the SBA typically
processes approximately 320 loans daily for working capital and
commercial property use. This amounts to $200 million in lost funding
opportunities each day.

“This may be a good time for small business owners to research and
consider alternative lending,” said QuickBridge President Ben Gold.
“While some small businesses wouldn’t ordinarily seek out alternative
lenders, unforeseen or emergency situations, like the shutdown, may
require them to turn to other financing options to help bridge this
period.”

The infographic addresses the many ways the partial shutdown is directly
affecting small businesses, including business travel; SBA lending; tax
filing; IRS counseling; and employee verification.

About QuickBridge

Founded in 2011, Quick Bridge Funding LLC (stylized as QuickBridge) is a
privately-held financial services firm headquartered in Irvine,
California with a satellite office in New York City. QuickBridge
provides short-term working
capital loans to small to mid-sized businesses nationwide. Since its
founding, QuickBridge has provided more than $600 million in working
capital to more than 12,000 businesses. QuickBridge ranked two
consecutive years on the Inc.500 list and is a previous Business
Intelligence Group and Equipment Leasing and Finance Association (ELFA)
award winner. Visit quickbridge.com.

Products offered by Quick Bridge Funding, LLC and affiliates are
business loans only. The products are provided by third parties and
subject to lender approval. Loans to customers in California are made or
arranged pursuant to a California Finance Lenders Law License. License
number: 603 J292.

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