Jovita Carranza, head of the Small Business Administration, listens during a roundtable discussion with governors and small-business owners.
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The Paycheck Protection Program is ending, meaning ailing small businesses will need to look elsewhere for funding.
But where to turn?
While there are other options that may be of help to entrepreneurs during the coronavirus-induced downturn, they are limited and may not carry favorable terms for borrowers, according to experts.
“When you get into a recession, the flow of capital is chilled,” said Chris Hurn, CEO of Fountainhead Commercial Capital, a nonbank commercial lender.
“I don’t know how prevalent some of these things will be right now based on the credit markets and where they’re at,” Hurn said of sources beyond government-backed loans like the PPP.