The agency had to make some tough decisions, including layoffs and pay cuts. In order to make ends meet, they decided to take out a term loan. They were able to secure a $300,000 loan with the idea that it would cover payroll and operating expenses for 6-8 months. The loan had a five-year term and no prepayment penalty so they could pay the money back early if business picked up.


The loan helped the advertising agency cover their operating expenses and keep their business afloat during the pandemic. It also allowed them to buy new equipment and rehire their employees. The loan was a lifeline for the advertising agency and helped them get back on their feet.

The criteria for getting approved for a loan varies from lender to lender, but there are some general things that you need to keep in mind. You should have strong financials – This will show lenders that you are able to repay the loan. You should also have a good credit history –  This will show lenders that you are a low-risk borrower.

This agency, by using their creative advertising staff to promote their own services, found ways to secure clients that were reopening. The financing allowed them to focus on their business and relieved the stress of micromanaging their cash flow.

Luckily, their business picked up to the point where they were able to repay the loan with 12 months after taking it out. The loan had not prepayment penalties and they benefited from the reduced interest expense.

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