Mike Austin is a retired small business lender with over 30 years’ experience in SBA loan-guarantee programs.
Since the COVID-19 Pandemic, he has been working for the Small Business Development Center of Hampton Roads and the Virginia SBDC Network under a grant from the TRUIST Foundation.
All small business owners understand the theory of maintaining a positive cash flow in order to keep their businesses afloat. Slow or non-existent sales and/or ever-increasing expenses cause a shortfall in available capital. This lack of capital severely impacts their ability to respond to opportunities for growth as they are unable to purchase the equipment and or inventory necessary to meet the increased demand these opportunities bring. Unfortunately, in every case, reality trumps theory.