Just when fair trade, organic chocolatier Endorfin Foods had solidified a niche in the competitive industry of gourmet chocolate, the coronavirus pandemic threatened to spoil the business. In this podcast, Founder and chocolate crafter Brian Wallace talks about the complexities of chocolate making and the marketplace and how Endorfin Foods weathered and survived COVID's impact on retail distribution.

In addition to insights on how other companies can adapt to the new normal, Brian explains how a Fundbox line of credit helped provide his business with the buying power to take advantage of a pivotal opportunity to grow.

There is a trade credit crisis. At any time, American small businesses are losing immediate access to an estimated $900 billion in liquid capital, through their own practice of offering trade credit to their B2B customers --- in the form of net terms (payable net 30, net 60, or longer). Waiting to get paid no longer has to be a cost of doing "business as usual".

In this episode, we discuss the latest independent research on how to solve the payment delay crisis brought on by this Net Terms Economy.

A new study from Frost & Sullivan, a growth, strategy consulting, and research firm, shows just how much money’s involved and what can be done about it.

The Frost & Sullivan research shows that by receiving payments when their work is complete — instead of having to wait — B2B sellers can enjoy:

• 25% to 35% enhanced growth
• An average of 10% lower operational costs, and valued at 4-6% of revenue
• A reduction in risks like customer nonpayment, churn, and fraud, worth 3-5% of revenue

The report goes on to suggest that small businesses can achieve these benefits of immediate payments by using what they call Next Generation Credit and payment solutions.

See also our related Fundbox blog article: New Research Shows How to Stop B2B Trade Credit from Stunting Small Business Growth.

A text version of this podcast is available here.
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The Small Business Administration's Paycheck Protection Program (PPP) aimed to provide  qualified small businesses with a low interest (1%) forgivable loan. While PPP applications are no longer being accepted, legislation is pending that could reopen the program.

If you're a small business owner or independent contractor who's suffering from the economic impact of the coronavirus/COVID-19 pandemic, the PPP could help save your company and your employees --- if you knew how to apply and skipped common mistakes that could get you rejected.

In this podcast, produced in association with Jobox, experts from Fundbox provide a current and candid discussion and Q&A about the Paycheck Protection Program, including these key questions:

1. What are the CARES Act, EIDL, and PPP?
2. What is a PPP loan and what makes it different? 
3. Who is eligible to apply for a PPP loan/grant?
4. What can disqualify you from a PPP loan?
5. Now that the PPP is open again, what's the urgency?
6. How can employers and independents apply?
7. How do you find a lender?
8. How can you maximize my chance for approval?
9. What documents do you need ready to apply?
10. How can you avoid triggering a fraud alert?
11. What does the $100,000 salary cap mean?
12. What does loan forgiveness mean?
13. Is loan forgiveness automatic, and how much? 
14. Can you borrow more than you know is forgivable?
15. Can you apply for both the PPP loan and an EIDL?
16. How much can an independent contractor borrow?
17. What can you use the PPP loan funds for?
18. Why have some banks refused applications?
19. If I was declined, how can I succeed at reapplying?
20. What happens if funds are left over the forgiveness period?
21. What happens to your EIDL if approved for the PPP?

For more information, visit the Fundbox Blog.