Small biz SOS: Things you can do in case of emergencies

MANILA, Philippines — Your business is off to a great start: you’ve hired your team and achieved a few sales. Now comes the hard part—keeping your business afloat.

While securing the first sale or retaining loyal customers can be motivating, unexpected events—from natural disasters to new competitors—can disrupt even the most promising businesses. Many biz owners also struggle with multiple payments for bills, rent or even suppliers.

To keep your business on a steady track, it’s crucial to keep your cash flow healthy, or at least have a reliable backup plan if it’s not.

Here are some key steps for any struggling business owner to bring their cash flows to a more manageable level, and an emergency line when the cash flows are already in the red:

Know your break-even point with updated financial statements

For many new small businesses, making a profit can take a while.

Knowing the break-even point, when expenses are equal to sales, can help you set realistic goals. Keeping financial statements up-to-date also ensures you have a real-time picture of your financial status, enabling you to spot potential issues early.

If you’re doing this yourself, an accounting and cash flow management tool is necessary to lighten the load and keep financial records accurate.

Prioritize customer and supplier relationships

When businesses are running out of cash, good relationships go a long way.

Customers may be willing to pay in advance or suppliers may be willing to extend their payment terms.

Establish these relationships before getting into trouble, and then call in that favor when the business is in need.

Consider a loan that is easy to manage

Loans can be a lifesaver for struggling businesses, but for them to be manageable, you should be able to consider that the repayments can fit within your cash flow.

Favorable rates and manageable repayment terms are also essential to avoid additional financial burdens.

In times of emergency, loans must be processed quickly to ensure funds are available when needed. Some loans take several days to process and this may delay much-needed relief.

But with the right kind of loan, business owners can better manage unexpected or multiple expenses until the business gets into a better financial position.

The one lifeline small business owners can count on

Running a business is challenging, but with the right approach, any business owner can create a financial safety net in times of unexpected emergencies.

Fortunately, there are reliable partners like GCash that aim to provide Filipino entrepreneurs with reliable support, even during urgent times and for any kind of business need. 

With GLoan, eligible GCash users can borrow anywhere from P1,000 to P125,000 cash sent straight to their GCash wallet.

To help manage cash flows better, users can choose flexible payment terms between 5 to 24 months and with consistent and competitive interest rates as low as 1.59% per month. 

Unlike more traditional options like bank loans, GLoan also offers instant approval for eligible users with no additional requirements needed, all done through the GCash app.

More importantly, GCash is licensed and certified by the Securities and Exchange Commission, giving business owners the peace of mind that all their funds are safe and secure. 

With the help of GLoan, business owners have access to instant funding for any kind of emergency—whether to pay off multiple expenses, invest in more capital to grow, or purchase tools and software that help manage finances better.

With reliable and flexible terms, GLoan can help entrepreneurs keep their businesses afloat without pulling them further into financial debt. 

To be eligible for GLoan, users must have a fully verified GCash profile and must continue using GCash and its services, regularly cashing in and paying their dues early or on time. 

Access GLoan through your GCash dashboard or find it under “Borrow.”

No GCash yet? Download the GCash App on the Apple App Store, Google Play Store, or Huawei App Gallery! Kaya mo, i-GCash mo!

Editor’s Note: This press release is sponsored by GCash. It is published by the Advertising Content Team that is independent from our Editorial Newsroom.